Turks and Caicos Islands: Manufacturing, value added (constant 2015 US$)

Key figures

What the numbers say

In 2024, Turks and Caicos Islands' manufacturing, value added (constant 2015 US$) rose 1.5% on 2023 (from US$8.9 million to US$9.04 million).

Across the 16 yearly changes before that (2008 to 2023), the average change was −1.5% and a typical year strayed about 16% from that (the standard deviation). This year's change was 0.2 standard deviations above 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 31.8% in 2022 and the biggest yearly fall was 31.7% in 2012. 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$269,941 a year. A straight line explains 52% 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 36th highest value of the 37 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

• Bahamas, The — 32nd of 37: US$29.13 million
• Timor-Leste — 33rd of 37: US$29 million
• Kiribati — 34th of 37: US$12.39 million
• Marshall Islands — 36th of 37: US$3.33 million
• Palau — 37th of 37: US$2.94 million

What this measures

Manufacturing includes industries classified in ISIC (Rev. 3) major division C and is defined as the physical or chemical transformation of materials or components into new products. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.

Limitations: Ideally, industrial output should be measured through regular censuses and surveys of firms. But in most developing countries such surveys are infrequent, so earlier survey results must be extrapolated using an appropriate indicator. The choice of sampling unit, which may be the enterprise (where responses may be based on financial records) or the establishment (where production units may be recorded separately), also affects the quality of the data. Moreover, much industrial production is organized in unincorporated or owner-operated ventures that are not captured by surveys aimed at the formal sector.

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

All 18 values

Manufacturing, value added (constant 2015 US$) in nearby economies

• Antigua and Barbuda — US$40.65 million (2025)
• Argentina — US$73.55 billion (2025)
• Aruba — US$123.72 million (2023)
• Bahamas, The — US$29.13 million (2024)
• Barbados — US$321.87 million (2024)
• Belize — US$175.51 million (2025)
• Bolivia — US$4.13 billion (2024)
• Brazil — US$187.91 billion (2025)
• Cayman Islands — US$44.64 million (2024)
• Chile

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 manufacturing, value added (constant 2015 US$)?

US$9.04 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2007?

It is down 34.36% from US$13.77 million in 2007 (2.45% a year on average, compounded). The highest value was US$13.77 million in 2007 and the lowest US$5.79 million in 2012.

How does Turks and Caicos Islands rank?

36th highest of 37 economies with data for 2024.

Is the latest change in manufacturing, value added (constant 2015 US$) unusual for Turks and Caicos Islands?

In 2024, Turks and Caicos Islands' manufacturing, value added (constant 2015 US$) rose 1.5% on 2023 (from US$8.9 million to US$9.04 million). Across the 16 yearly changes before that (2008 to 2023), the average change was −1.5% and a typical year strayed about 16% from that (the standard deviation). This year's change was 0.2 standard deviations above 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 NV.IND.MANF.KD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; 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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