Turks and Caicos Islands: GDP (current US$)

Key figures

What the numbers say

In 2024, Turks and Caicos Islands' GDP (current US$) rose 6.5% on 2023 (from US$1.64 billion to US$1.75 billion).

Across the 22 yearly changes before that (2002 to 2023), the average change was +8.2% and a typical year strayed about 14.4% from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 34.6% in 2021 and the biggest yearly fall was 33.1% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about US$57.9 million a year. A straight line explains 50% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Turks and Caicos Islands had the 15th highest value of the 14 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Turks and Caicos Islands in the 2024 ranking

• Aruba — 11th of 14: US$4.17 billion
• Faroe Islands — 12th of 14: US$4.05 billion
• Curaçao — 13th of 14: US$3.56 billion

What this measures

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Limitations: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 24 values

GDP (current US$) in nearby economies

• Antigua and Barbuda — US$2.34 billion (2025)
• Argentina — US$683.1 billion (2025)
• Aruba — US$4.17 billion (2024)
• Bahamas, The — US$15.83 billion (2024)
• Barbados — US$8.02 billion (2025)
• Belize — US$3.33 billion (2025)
• Bolivia — US$64.77 billion (2025)
• Brazil — US$2.28 trillion (2025)
• Cayman Islands — US$7.77 billion (2024)
• Chile — US$357.37 billion (2025)
• Colombia — US$457.41 billion (2025)
• Costa Rica — US$102.91 billion (2025)

More economic policy & debt data for Turks and Caicos Islands

• Adjusted savings, education expenditure (% of GNI) — 2.29% (2021)
• Adjusted savings, net forest depletion (current US$) — US$30,821 (2021)
• Adjusted savings, mineral depletion (current US$) — US$0 (2021)
• Adjusted savings, energy depletion (current US$) — US$0 (2021)
• Agriculture, forestry, and fishing, value added (current LCU) — 6.14 million (2024)
• Agriculture, forestry, and fishing, value added (% of GDP) — 0.35% (2024)
• Manufacturing, value added (current LCU) — 7.8 million (2024)
• Manufacturing, value added (% of GDP) — 0.45% (2024)

Reading data like this

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Questions people ask

What is Turks and Caicos Islands's GDP (current US$)?

US$1.75 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2001?

It is up 386.52% from US$358.74 million in 2001 (7.12% a year on average, compounded). The highest value was US$1.75 billion in 2024 and the lowest US$358.74 million in 2001.

How does Turks and Caicos Islands rank?

15th highest of 14 economies with data for 2024.

Is the latest change in GDP (current US$) unusual for Turks and Caicos Islands?

In 2024, Turks and Caicos Islands' GDP (current US$) rose 6.5% on 2023 (from US$1.64 billion to US$1.75 billion). Across the 22 yearly changes before that (2002 to 2023), the average change was +8.2% and a typical year strayed about 14.4% from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NY.GDP.MKTP.CD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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