Flag Turks and Caicos Islands

Overview: In 2019 Turks and Caicos Islands was the number 175 economy in the world in terms of GDP (current US$), the number 216 in total exports, the number 200 in total imports, the number 33 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Turks and Caicos Islands are Plastic Building Materials ($1.87M), Stone Processing Machines ($1.56M), Iron Structures ($1.32M), Crustaceans ($917k), and Integrated Circuits ($892k), exporting mostly to France ($4.19M), United States ($2.16M), Zambia ($1.8M), Singapore ($1.24M), and Republic of the Congo ($1.1M).

Imports: The top imports of Turks and Caicos Islands are Refined Petroleum ($23.9M), Cars ($15.6M), Jewellery ($10.6M), Other Furniture ($9.02M), and Soybeans ($7.1M), importing mostly from United States ($200M), Italy ($10.8M), Brazil ($10.6M), United Kingdom ($5.27M), and Japan ($4.35M).

Location: Turks and Caicos Islands borders Haiti by land and Bahamas, Dominican Republic, and Haiti by sea.

Historical Data

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Yearly Exports

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Value
Depth

Top Export (2019): Plastic Building Materials, $1.87M

Top Destination (2019): France, $4.19M

In 2019, Turks and Caicos Islands exported a total of $13.6M, making it the number 216 exporter in the world. During the last five reported years the exports of Turks and Caicos Islands have changed by -$10.7M from $24.3M in 2014 to $13.6M in 2019.

The most recent exports are led by Plastic Building Materials ($1.87M), Stone Processing Machines ($1.56M), Iron Structures ($1.32M), Crustaceans ($917k), and Integrated Circuits ($892k). The most common destination for the exports of Turks and Caicos Islands are France ($4.19M), United States ($2.16M), Zambia ($1.8M), Singapore ($1.24M), and Republic of the Congo ($1.1M).

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Yearly Imports

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Value
Depth

Top Import (2019): Refined Petroleum, $23.9M

Top Origin (2019): United States, $200M

In 2019 Turks and Caicos Islands imported $265M, 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 $51.5M from $214M in 2014 to $265M in 2019.

The most recent imports of Turks and Caicos Islands are led by Refined Petroleum ($23.9M), Cars ($15.6M), Jewellery ($10.6M), Other Furniture ($9.02M), and Soybeans ($7.1M). The most common import partners for Turks and Caicos Islands are United States ($200M), Italy ($10.8M), Brazil ($10.6M), United Kingdom ($5.27M), and Japan ($4.35M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Economic Complexity

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Most Specialized Products by RCA Index

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Turks and Caicos Islands has a high level of specialization in Plastic Building Materials (207), Stone Processing Machines (119), Molluscs (80.1), Onions (75.3), and Prefabricated Buildings (50.2). 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

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The highest complexity exports of Turks and Caicos Islands according to the product complexity index (PCI) are Instruments to check or measure electricity, radiation (1.77), Metal pickling preps, solder, brazing flux, weld cores (1.7), Hand-operated spanners, wrenches and sockets (1.7), Fork-lift trucks, other trucks with lifting equipment (1.67), and Electronic integrated circuits and microassemblies (1.45). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Turks and Caicos Islands according to the relatedness index, are Scrap Copper (0.085), Rolled Tobacco (0.084), Recovered Paper (0.084), Flavored Water (0.083), and Non-Knit Men's Shirts (0.083). 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.

The 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 it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of Turks And Caicos Islands. These are products that tend to be co-exported with the products that Turks And Caicos Islands exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.