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2023
Product
Exports | Imports $21.9M | $482M210 of 226 |  195 of 226
2023
Per Capita Product
Exports | Imports $474 | $10.4k205 of 220 |  69 of 220

About

Overview In 2023 Turks and Caicos Islands was the number 210 economy in the world in terms of total exports and the number 195 in total imports.

Exports The top exports of Turks and Caicos Islands are Polyacetals ($3.92M), Molluscs ($1.66M), Carbonates ($1.6M), Crustaceans ($1.47M), and Rolled Tobacco ($1.39M), exporting mostly to Gabon ($5.91M), United States ($5.51M), Zimbabwe ($3.79M), Czechia ($1.67M), and United Arab Emirates ($703k).

Imports The top imports of Turks and Caicos Islands are Refined Petroleum ($56.8M), Cars ($34M), Aluminium Structures ($13.6M), Other Furniture ($13.2M), and Recreational Boats ($8.54M), importing mostly from United States ($352M), Dominican Republic ($21.6M), Italy ($14M), Japan ($12.5M), and China ($10.5M).

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

Latest Trends

Latest Trade

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Y-AXIS SCALE

The 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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Polyacetals$3.92M
Top Destination (2023)Gabon$5.91M

In 2023, Turks and Caicos Islands exported a total of $21.9M, making it the number 210 exporter in the world. During the last five reported years the exports of Turks and Caicos Islands have changed by -$22.2M from $44.1M in 2018 to $21.9M in 2023.

The most recent exports are led by Polyacetals ($3.92M), Molluscs ($1.66M), Carbonates ($1.6M), Crustaceans ($1.47M), and Rolled Tobacco ($1.39M). The most common destination for the exports of Turks and Caicos Islands are Gabon ($5.91M), United States ($5.51M), Zimbabwe ($3.79M), Czechia ($1.67M), and United Arab Emirates ($703k).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Czechia$1.62M (+ 3.36k%)
Zimbabwe$883k (+ 30.4%)
Mozambique$604k (+ 1.92k%)
Fastest Growing Import Markets (2022 - 2023)
United States$20.4M (+ 6.14%)
Finland$7.8M (+ 181k%)
Japan$5.97M (+ 92.1%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

Turks and Caicos Islands has a high level of specialization in Mill Machinery (272), Molluscs (144), Carbonates (94.8), Polyacetals (63.8), and Cereal Meal and Pellets (61.1). 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

The highest complexity exports of Turks and Caicos Islands according to the product complexity index (PCI) are Tools, interchangeable; for hand tools, whether or not power-operated, or for machine... (1.74), Machinery; for working rubber or plastics or for the manufacture of products... (1.7), Tools, hand; (including glaziers' diamonds) n.e.c.; blow lamps; vices, clamps etc, other... (1.58), Fork-lift and other works trucks; fitted with lifting or handling equipment (1.52), and Modelling pastes, including those for children; dental wax, impression compounds, in sets... (1.32). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Turks and Caicos Islands according to the relatedness index, were Non-fillet Fresh Fish (0.14), Insulated Wire (0.14), Scrap Copper (0.14), Non-Knit Men's Shirts (0.14), and Locust beans, seaweed, sugar beet, cane, for food (0.14). 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

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 a country currently specializes in.

Relatedness Space

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.

Relatedness Space (2023)

Diversification Frontier

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Depth

The 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.

Diversification Frontier

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