Turks and Caicos Islands
2020 Product Exports | Imports: $7.38M | $193M, 218 of 226 | 200 of 226
2020 Per Capita Product Exports | Imports: $1.27k | $33.1k, N/A of N/A | N/A of N/A
Overview In 2020 Turks and Caicos Islands was the number 218 economy in the world in terms of total exports and the number 200 in total imports.
Exports The top exports of Turks and Caicos Islands are Crustaceans ($1.34M), Trailers ($990k), Molluscs ($704k), Integrated Circuits ($473k), and Non-Knit Men's Suits ($327k), exporting mostly to United States ($2.91M), Burkina Faso ($993k), Ireland ($529k), Singapore ($433k), and Slovakia ($380k).
Imports The top imports of Turks and Caicos Islands are Refined Petroleum ($15M), Cars ($8.35M), Other Furniture ($7.69M), Aluminium Structures ($7.04M), and Iron Structures ($4.18M), importing mostly from United States ($151M), Dominican Republic ($7.51M), United Kingdom ($5.88M), Italy ($3.93M), and China ($3.27M).
Location Turks and Caicos Islands borders Haiti by land and Bahamas, Dominican Republic, and Haiti by sea.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Turks and Caicos Islands.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionData is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2020): Crustaceans, $1.34M
Top Destination (2020): United States, $2.91M
In 2020, Turks and Caicos Islands exported a total of $7.38M, making it the number 218 exporter in the world. During the last five reported years the exports of Turks and Caicos Islands have changed by -$26.2M from $33.6M in 2015 to $7.38M in 2020.
The most recent exports are led by Crustaceans ($1.34M), Trailers ($990k), Molluscs ($704k), Integrated Circuits ($473k), and Non-Knit Men's Suits ($327k). The most common destination for the exports of Turks and Caicos Islands are United States ($2.91M), Burkina Faso ($993k), Ireland ($529k), Singapore ($433k), and Slovakia ($380k).
Yearly Imports
#permalink to sectionTop Import (2020): Refined Petroleum, $15M
Top Origin (2020): United States, $151M
In 2020 Turks and Caicos Islands imported $193M, making it the number 200 trade destination in the world. During the last five reported years the imports of Turks and Caicos Islands changed by -$14.4M from $207M in 2015 to $193M in 2020.
The most recent imports of Turks and Caicos Islands are led by Refined Petroleum ($15M), Cars ($8.35M), Other Furniture ($7.69M), Aluminium Structures ($7.04M), and Iron Structures ($4.18M). The most common import partners for Turks and Caicos Islands are United States ($151M), Dominican Republic ($7.51M), United Kingdom ($5.88M), Italy ($3.93M), and China ($3.27M).
Market Growth
#permalink to sectionFastest Growing Export Markets (N/A - N/A)
Fastest Growing Import Markets (N/A - N/A)
- United States, $74.1M (+ 201%)
- United States, $73.9M (+ 52.9%)
- United States, $62.8M (+ 81.5%)
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionTurks and Caicos Islands has a high level of specialization in Molluscs (176), Crustaceans (124), Stranded Iron Wire (95.7), Trailers (92.2), and Facial Tissue (54.3). Specialization is measured using RCA, an index that takes the ratio between Turks and Caicos Islands observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Turks and Caicos Islands according to the product complexity index (PCI) are Equipment for physical and chemical analysis (1.75), Sharpening, honing, lapping, grinding machine tools (1.63), Measuring or checking instruments nes (1.54), Knives, cutting blades, for machines and appliances (1.45), and Electronic integrated circuits and microassemblies (1.41). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Turks and Caicos Islands according to the relatedness index, are Hard Liquor (0.099), Non-Knit Active Wear (0.097), Non-Knit Men's Shirts (0.097), Scrap Iron (0.096), and Non-fillet Frozen Fish (0.096). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Turks and Caicos Islands is not specialized in.
Product Space
#permalink to sectionThe product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
