external merchandise trade tables 2014portstci.com/.../03/trade-report-2014-trade...1.pdf · 8...
TRANSCRIPT
1
EXTERNAL
MERCHANDISE TRADE TABLES 2014
YUUII
Strategic Policy & Planning Department
In Collaboration with Customs Department
& Ports Authority
Turks and Caicos Islands
2
PUBLISHED & PRINTED BY:
STATISTICAL OFFICE
STRATEGIC POLICY AND PLANNING DEPARTMENT
SOUTH BASE, GRAND TURK, TURKS & CAICOS ISLANDS
Telephone: (649) 946-1700
Fax: (649) 946-2557
E-mail: [email protected]
Website: WWW.SPPDTCI.COM
© COPYRIGHT 2015
DATA FROM THESE TABLES MAY BE REPRODUCED
WITH ACKNOWLEDGEMENT FROM SOURCE
3
FOREWORD
This 2014 “Analysis of Trade,” forms part of the
presentation of macro-economic data by the
Department of Statistics. The purpose of this
publication is to keep, government Departments,
policy makers and the wider society abreast with
the most recent trade trends. Thus, data that are
of major concern to policymakers and citizens of
the Turks and Caicos Islands have been included
in this publication.
Users are reminded that the data in this report
have been derived from customs documents
brought to account during the year under review.
As a result, there may be slight discrepancies
between the figures on Imports and Exports
extracted from the customs file. The information on
which this report is based was collected by means
of an electronic file extracted from the customs
Asycuda file.
The Statistical Office despite the many challenges
over the last few years, remains committed to
providing timely, accurate, reliable and relevant
statistics. The figures and graphs in this
publication are provisional. Any notifications of
errors and omissions, as well as suggestions for
improving the scope, form or content of this report
will be greatly appreciate.
ACKNOWLEDGMENTS
The report was prepared by the staff of the
Strategic Policy and Planning Department. As
usual the Department adopts this medium to
record its appreciation to the Customs
Department, which made the base documents
available. Special thanks to Adrian Jones who
provided the base files in a timely manner and was
always willing to assist with discrepancies when
they arise. Mention must also be made of the staff
of the Ports authority that assisted with providing
data. We would also like to acknowledge Mr.
Ahmed Jones from the Treasury. Without the
help of all persons mentioned the report would not
have been completed in a timely manner.
3
4
TABLE OF CONTENTS
Foreword 3
Glossary 6
Explanatory Notes 7– 8
LIST OF TABLES
REVENUE FROM IMPORTS 1. Revenue Collected from Imports and Exports for the Fiscal Year: 1985/86 - 2013/14. 11
2. Revenue Collected from Imports Performance for the Fiscal Years: 1999/00 - 2013/14. 12
Versus Total Recurrent Revenue.
3. Import Duties by Month for the Fiscal Years: 2008/09 - 2014/15. 13
4. Import Duties by Month for the Period January to December: 2008 - 2014. 14
5. Percentage (%) Contribution of Import Duties by Month for the Period: 2008 - 2014. 14
6. Selected Indicators 15
7. Revenue from Imports for the Period January to December: 2014. 16
IMPORTS AND EXPORTS PERFORMANCE
8. Value of Merchandise Imports by SITC Sections: 2011 – 2014. 18
9. Value of Imports by Month for Calendar Years: 2002 - 2014p. 20
10. Value of Imports by Quarter for the Calendar Years: 2003 - 2014p. 22
11. Percentage Contribution of the Value of Import by Quarter for the Period: 2003 – 2014. 22
12. Percentage Change in the Value of Import by Quarter for the Period: 2003 - 2014. 23
13. Merchandise Imports by SITC Sections: 2007-2014 24
14. Distribution of Merchandise Imports by SITC Sections: 2007 - 2014p. 25
15. Merchandise Imports by SITC Division: 2012-2014P 26-28
16. Value of Imports by Ports for the Period January to December: 2013 - 2014. 29
17: Imports by Country: 2013-2014. 30
18. Value of Imports of Selected Building Materials: 2013-2014. 32
19A. Total Merchandise Export: 2002-2014. 35
20: Value of Imports and Exports: 2001 - 2014. 37
PORTS STATISTICS
21. Vehicles Imported for the Period: January - December 2013 and 2014. 41
22. Total TEUs Imported: 2012 - 2014. 42
23. TEUs Imported by Month for the Period January to December: 2012 - 2014. 43
4
5
LIST OF TABLES (Cont’d)
24. TEUs Imported to the South Caicos Port by Month for the Period
January to December: 2012 – 2014. 44
25. TEUs Imported to the Grand Turk Port by Month for the Period January to
December: 2012 – 2014. 45
26. Vessel Movements into Turks and Caicos Ports for the Period January to
December: 2012 - 2014 46
27. Tonnage Imported by Country for Period April 1, 2012 through March 31, 2013. 47
28. Tonnage Imported by Country for Period April 1, 2013 through March 31, 2014. 47
29. Tonnage Imported by Country for Period April 1, 2014 through December 31, 2014. 48
OTHER STATISTICS
30. Gross Domestic Product by Economic Activity in Current and Constant Prices: 50
2012 - 2014.
31. Selected Economic Indicators. 51-52
32. Expenditure on Gross Domestic Product in Current Prices (US$’000) 53-54
34. Percentage Change in Visitor Arrivals for the Period January to June: 2013 - 2014. 55
35. Percentage Change in Visitor Arrivals for the Period January to June: 2013 - 2014. 56
36. Percentage Change in Visitor Arrivals by Quarter: 2013 - 2014. 57
LIST OF CHARTS
1. Revenue from Import Duties for the Period: 1994/95 – 2013/14. 10
2. Growth in Value of Imports Versus Growth in Import Duties: 12
2000/1-2013/14.
4. Merchandise Imports Performance: 2002- 2014. 21
5. External Merchandise Imports by Month: 2013 and 2014. 21
6. External Merchandise Imports by Quarter: 2005- 2014. 35
7. Annual External Merchandise Trade: Performance 2008-2014p. 38
8. Import and Export Growth Rates: 2002-2014. 39
5
6
GLOSSARY
SITC Standard International Trade Classification
ROW Rest- of- the world
NEC Not elsewhere classified
BEC Broad Economic Classification
6
7
EXPLANATORY NOTES
Source of data: The external merchandise trade statistics in this report are compiled primarily from the
electronic data file provided by the Customs Department. When goods are imported into or exported
from the TCI, declarations must be filed with the Customs Department, giving such information as
description and value of the goods, origin of the commodities and the mode of transportation. The
financial information has been gathered from the treasury and audit department.
Period Covered: This report covers all documents relating to trade brought into account during the
calendar year 2014 compared with the calendar year 2013.
Coverage: The figures given represent the Turks and Caicos Islands’ trade on the “General System” of
trade as defined by the United Nations Statistical Office. Under this system, imports include all goods
brought into the TCI, whether for domestic consumption or transformation and imports entering
customs storage or manufacturing warehouses. Exports are a combination of domestic exports and re-
exports. Domestic exports include commodities grown in the country, extracted from its natural
resources or manufactured in the country. These include goods of foreign origin which have been
assembled or transformed in the country. Re-exports are exports of goods of foreign origin which have
NOT been materially transformed while in the Turks and Caicos Islands. These include goods moving
outward from customs storage or manufacturing warehouses. In principle the “General System” of trade
records all goods entering the country, as imports, and all goods leaving the country, as exports.
Not included however are:-
◦ Migrants’ effects and personal purchases by travellers.
◦ Ships/Aircraft stores and bunkers supplied to locally registered craft.
◦ Monetary gold and bullion, bank notes and coins in circulation.
◦ Goods consigned to territorial enclaves and international organizations, (Embassies, High
Commissions and Diplomatic Representatives etc.)
◦ Goods on lease for less than 1 year, such as, cinematographic films.
◦ Goods on loan, samples, or goods brought in for exhibition or study.
◦ Trans-shipment goods that is, goods being trans-shipped through the islands.
Included are: - Goods entering or leaving via Parcel Post (imports and exports), for which import entries
and shipping bills are submitted. These are included under the appropriate S.I.T.C item number. When
no customs document is prepared as in the case of Detained Parcel Post, entries are classified according
to the S.I.T.C. Items Number or grouped together in the Item 991-200000, Special Entries.
8
Commodity Classification: The import and export in this publication are recorded under the
Harmonized Commodity Description and coding System (HS) 2010 version, and subsequently converted
on a one to one relationship to the Standard International Trade Classification (S.I.T.C) Revision 3. This
is essentially an economic classification which categorizes by type, example Food, Beverages, Mineral
Fuels; Chemicals manufactured Goods, machinery and Equipment.
Basis of Valuation: For Customs purposes, imports are recorded at values established according to the
provisions of the Customs Act. In general, it requires that the value for duty of imported goods be
equivalent to the transaction value or the price actually paid or payable. Values shown are in terms of
U.S dollars. Exports are shown on a f.o.b. (free on board) valuation basis, i.e. the value of the goods
including charges up to delivery on board the exporting vessel. Imports are valued on the c.i.f. basis
(cost including insurance and freight) which represents the cost to the importer of buying the goods and
bringing them to this country, but excluding customs or any other duty paid on arrival.
Countries: The Statistics in this publication refer to merchandised trade between the Turks and Caicos
Islands and the rest of the world. Imports are credited to “Country of Origin or Manufacture” or, where
origin cannot be established to the country from which consigned. Exports are assigned to the “Country
of Consignment”’ that is to the country of final destination, (last country to which the goods are to be
shipped from the Turks and Caicos Islands without, as far as known, any commercial transaction in an
intermediate territory, irrespective of whether or not bulk has been broken in the course of transport).
Symbols: - The following symbols are used in this report
… Not available
Nil or negligible
n.e.s. Not elsewhere specified
p provisional
r revised
9
REVENUE FROM
IMPORTS
10
ANALYSIS OF REVENUE FROM IMPORTS
Preliminary indications are that economic fundamentals for the Turks and Caicos Islands economy
remained reasonably positive and continued its growth during 2014, as a result of increased tourism
output and a slight increase in construction activity as well as increased activity in other sectors of the
economy.
For the Fiscal year 2013/14, Merchandise imports continued its role as the main recurrent
revenue earner for the Turks and Caicos Islands. Information from the government treasury reveal that
for the fiscal year 2013/14 duties from imports increased by 8.6% to $52.7 million when compared with a
growth rate of 1.5% for the 2012/13 fiscal year. Preliminary indications are that revenue from
merchandise imports will record strong positive growth for the 2014/15 fiscal year when compared to the
same period in 2013/14. For the period January to December 2014 import duties was $58.6m when
compare to $51.6m for the same period in 2013. Customs processing fee was $28.2 m when compared to
$20.8m in 2013. This shows an increase of 13.5% in import duties and 35.6% increase in customs
processing fee.
The recent increased performance in import duties, customs processing fee and in the value of
imports follows along the trend and can be explained by the performance in other areas of the economy.
Stay-over arrivals and cruise visitors increased by 49.9% and 24.8% respectively. Construction activity is
estimated to have increased. This helps to explain the more than 90% increase in the value of imports at the
South Caicos port and the 72.3% increase in selected building materials. With increased economic activity it
is estimated that the population has increased by more than 5%, which led to buoyant consumer demand.
Statistics from the Ports Authority shows that the number of cars/Trucks imported increased by % and the
number of containers imported increased by 27.3%. This can be attributed to the level of economic activity
taking place in the economy.
With prospects of increased investment in tourism and other capital related projects over the next
2 years on the horizon, the growth in trade is projected to increase by more than 15% in 2015 and by
more than 20% in 2016, assuming that the Turks and Caicos Islands policymakers meet their
commitments and new flash points in the global economy do not emerge. This will result in further
increases in the revenue collected from imports.
Chart 1. Revenue from Import Duties for the Period: 2001/02 – 2013/14.
10
11
Table 1. Revenue Collected from Imports and Exports
For the Fiscal Years: 1985/86 - 2013/14.
Fiscal Year Import Duty Percentage
Export Duty
Change (%)
1985/86 4,124,000 …. 130,000
1986/87 4,566,000 10.7 175,000
1987/88 5,874,000 28.6 148,000
1988/89 7,581,000 29.1 120,000
1989/90 9,439,000 24.5 142,000
1990/91 9,897,000 4.9 104,000
1991/92 11,700,000 18.2 100,000
1992/93 13,750,000 17.5 120,000
1993/94 12,861,000 (6.5) 168,000
1994/95 13,666,000 6.3 170,000
1995/96 15,141,924 10.8 164,787
1996/97 15,986,465 5.6 136,470
1997/98 18,793,480 17.6 128,984
1998/99 22,239,372 18.3 127,771
1999/00 26,241,616 18.0 109,687
2000/01 27,509,835 4.8 143,073
2001/02 29,175,897 6.1 172,664
2002/03 31,706,102 8.7 119,915
2003/04 34,937,826 10.2 142,448
2004/05 41,587,343 19.0 147,102
2005/06 55,674,917 33.9 205,176
2006/07 73,893,509 32.7 154,827
2007/08 75,089,635 1.6 137,785
2008/09 70,818,279 (5.7) 71,915
2009/10 50,029,099 (29.4) 61,154
2010/11 43,523,387 (13.0) 23,181
2011/12 47,791,483 9.8 45,795
2012/13 48,581,744 1.5 4,675
2013/14u 52,701,565 8.6 181
u - unaudited
11
12
Chart 2. Growth in Value of Imports Versus Growth in Import Duties: 2000/01 - 2013/14.
(40.0)
(30.0)
(20.0)
(10.0)
0.0
10.0
20.0
30.0
40.0
50.0
60.0
Growth in value of Imports Growth in Import Duties
12
13
Table 2. Revenue Collected from Imports for the Fiscal Years: 1999/00 - 2013/14 Versus Total Recurrent Revenue.
Fiscal Year Value of Imports Growth in value
of Imports Import Duty Growth in Import
Duties
1999/00 147,465,896 26,241,616
2000/01 155,654,080 5.6 27,509,835 4.8
2001/02 150,366,959 (3.4) 29,175,897 6.1
2002/03 185,967,096 23.7 31,706,102 8.7
2003/04 177,717,454 (4.4) 34,937,826 10.2
2004/05 243,712,296 37.1 42,856,864 22.7
2005/06 304,551,852 25.0 55,674,917 29.9
2006/07 338,381,182 11.1 73,893,509 32.7
2007/08 540,055,947 59.6 75,089,635 1.6
2008/09 549,404,544 1.7 70,818,279 (5.7)
2009/10 350,017,054 (36.3) 50,029,099 (29.4)
2010/11 298,210,510 (14.8) 43,523,387 (13.0)
2011/12 333,394,925 11.8 47,791,483 9.8
2012/13u 337,265,663 1.2 48,581,744 1.5
2013/14u 356,064,948 5.6 52,701,565 8.6
u - unaudited
Table 3. Import Duties By Month For The Fiscal Years: 2008/09 - 2014/15.
Months
Years %
2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 Change
April 7,640,818 4,360,372 3,403,930 3,708,110 3,811,504 4,348,334 5,574,650 28.2
May 5,938,363 4,396,392 3,941,270 3,431,878 4,131,791 4,380,148 4,814,027 9.9
June 6,376,817 4,425,201 3,766,039 3,736,957 3,601,049 4,264,415 4,386,740 2.9
July 6,833,916 4,142,278 3,858,360 3,589,650 4,077,589 4,022,815 5,243,111 30.3
August 5,940,505 4,357,481 3,141,465 3,372,931 3,825,451 3,884,230 4,373,769 12.6
September 3,481,994 3,877,615 2,661,872 3,097,240 2,780,112 3,245,365 4,335,900 33.6
October 6,296,815 3,578,142 3,379,542 3,272,373 4,035,239 4,487,713 4,695,435 4.6
November 5,206,796 3,988,545 3,512,791 5,559,117 5,069,256 4,492,383 5,037,450 12.1
December 7,314,497 3,709,311 4,384,635 5,232,654 4,715,702 6,002,263 6,516,962 8.6
January 5,207,787 4,920,659 3,911,662 4,144,171 4,884,819 4,460,019 5,006,149 12.2
February 5,045,836 3,626,167 3,906,314 4,042,185 3,379,731 4,514,195 March 5,534,136 4,646,937 3,655,505 4,604,216 4,269,501 4,599,686
Total 70,818,279 50,029,099 43,523,387 47,791,483 48,581,744 52,701,565 49,984,149
13
14
Table 4. Import Duties By Month For The Period January To December: 2008 - 2014.
Months
Years % 2008 2009 2010 2011 2012 2013 2014 Change
January 6,872,892 5,207,787 4,920,659 3,911,662 4,144,171 4,884,819 4,460,019 (8.7)
February 6,460,132 5,045,836 3,626,167 3,906,314 4,042,185 3,379,731 4,514,195 33.6 March 6,186,569 5,534,136 4,646,937 3,655,505 4,604,216 4,216,834 4,599,686 9.1 April 7,640,818 4,360,372 3,403,930 3,708,110 3,811,504 4,348,334 5,574,650 28.2 May 5,938,363 4,396,392 3,941,270 3,431,878 4,131,791 4,380,148 4,814,027 9.9 June 6,376,817 4,425,201 3,766,039 3,736,957 3,601,049 4,264,415 4,386,740 2.9 July 6,833,916 4,142,278 3,858,360 3,589,650 4,077,589 4,022,815 5,243,111 30.3 August 5,940,505 4,357,481 3,141,465 3,372,931 3,825,451 3,884,230 4,373,769 12.6 September 3,481,994 3,877,615 2,661,872 3,097,240 2,780,112 3,245,365 4,335,900 33.6 October 6,296,815 3,578,142 3,379,542 3,272,373 4,035,239 4,487,713 4,695,435 4.6 November 5,206,796 3,988,545 3,512,791 5,559,117 5,069,256 4,492,383 5,037,450 12.1 December 7,314,497 3,709,311 4,384,635 5,232,654 4,715,702 6,002,263 6,516,962 8.6
Total 74,550,114 52,623,095 45,243,667 46,474,393 48,838,266 51,609,049 58,551,945 13.5
Table 5. (%) Contribution Of Import Duties By Month For The Period: 2008 - 2014.
Months Years
2008 2009 2010 2011 2012 2013 2014
January 9.2 9.9 10.9 8.4 8.5 9.5 7.6
February 8.7 9.6 8.0 8.4 8.3 6.5 7.7
March 8.3 10.5 10.3 7.9 9.4 8.2 7.9
Quarter 1 26.2 30.0 29.2 24.7 26.2 24.2 23.2
April 10.2 8.3 7.5 8.0 7.8 8.4 9.5
May 8.0 8.4 8.7 7.4 8.5 8.5 8.2
June 8.6 8.4 8.3 8.0 7.4 8.3 7.5
Quarter 2 26.8 25.0 24.6 23.4 23.6 25.2 25.2
July 9.2 7.9 8.5 7.7 8.3 7.8 9.0
August 8.0 8.3 6.9 7.3 7.8 7.5 7.5
September 4.7 7.4 5.9 6.7 5.7 6.3 7.4
Quarter 3 21.8 23.5 21.4 21.6 21.9 21.6 23.8
October 8.4 6.8 7.5 7.0 8.3 8.7 8.0
November 7.0 7.6 7.8 12.0 10.4 8.7 8.6
December 9.8 7.0 9.7 11.3 9.7 11.6 11.1
Quarter 4 25.2 21.4 24.9 30.3 28.3 29.0 27.8
Total 100 100 100 100 100 100 100
Source: Treasury Department
15
Table 6. Selected Indicators
Calendar Year Total Imports Total Exports
GDP at Constant Market Prices Fiscal Year
Duties from Imports
Total Recurrent Revenue
Customs Processing Fee Duties from Exports
2000 148,671,146 8,844,263 319,443,337.25 2000/01 27,509,835 73,685,281 143,073
2001 156,808,733 7,285,904 341,946,798.43 2001/02 29,175,897 76,726,998 172,664
2002 177,464,386 8,706,866 345,923,361.28 2002/03 31,706,102 83,469,667 119,915
2003 170,685,188 9,847,368 378,225,206.95 2003/04 34,937,826 104,228,155 142,448
2004 220,409,976 12,131,986 421,349,499.25 2004/05 42,856,864 116,549,625 147,102
2005 303,720,602 14,715,984 481,913,714.81 2005/06 55,674,917 159,800,840 205,176
2006 497,761,708 17,610,457 568,138,257.68 2006/07 73,893,509 203,377,362 154,827
2007 580,593,758 16,256,306 600,177,338.30 2007/08 75,089,635 209,547,481 137,785
2008 591,251,785 24,769,254 649,822,687.79 2008/09 70,818,279 200,421,832 71,915
2009 375,426,516 20,757,912 522,780,655.79 2009/10 50,029,099 133,963,194 61,154
2010 302,024,777 15,583,764 527,930,035.28 2010/11 43,523,387 120,838,347 23,181
2011 318,144,975 14,766,589 552,322,669.67 2011/12 47,791,483 164,605,264 14,524,446 45,795
2012 343,691,735 14,830,261 538,335,391.85 2012/13u 48,581,744 180,292,851 18,967,088 4,675
2013 345,023,306 5,921,451 545,416,654.92 2013/14u 52,701,565
200,345,854 22,572,546 181
2014 414,054,634 6,494,565 570,633,091.90
U - Unaudited
16
Table 7. Revenue from Imports for the Period January to December: 2014.
Month Import duty Fuel Tax Customs Processing
Fee Total
Percentage (%) of Total Recurrent
Revenue Total Recurrent
Revenue
January 4,460,019 599,342 2,198,648 7,258,009 34.7 20,921,523
February 4,514,195 835,105 2,156,990 7,506,290 36.3 20,678,738
March 4,599,686 769,356 2,357,764 7,726,806 33.8 22,860,606
April 5,574,650 617,515 2,586,714 8,778,879 32.6 26,902,624
May 4,814,027 970,229 2,500,216 8,284,473 37.0 22,412,428
June 4,386,740 648,356 2,160,385 7,195,481 32.8 21,930,185
July 5,243,111 788,780 2,454,409 8,486,299 41.3 20,551,517
August 4,373,769 645,454 2,062,754 7,081,978 39.2 18,051,702
September 4,335,900 606,148 2,371,147 7,313,194 39.7 18,407,810
October 4,695,435 691,234 2,485,995 7,872,664 49.9 15,774,324
November 5,037,450 610,686 2,216,770 7,864,907 50.5 15,584,187
December 6,516,962 721,268 2,652,808 9,891,037 42.0 23,534,398
Source: Treasury Department
17
18
Table 8. Value Of Merchandise Imports By SITC Sections: 2011-2014p.
(In Us$ Millions)
S.I.T.C. SECTIONS 2011 2012 2013r 2014p Change 2013-2014
%
Change
ALL SECTIONS 318 344 345 414 69.0 20.0
0 Food 57.15 62.06 65.90 75.28 9.4 14.2
1 Beverages and Tobacco 19.17 17.62 18.44 22.05 3.6 19.6
2 Crude Materials, Inedible except 7.10 6.48 4.93 8.96 4.0 81.5
Fuels 3 Mineral Fuels, Lubricants & 80.76 83.61 95.99 98.53 2.5 2.6
related Materials 4 Animals and Vegetable Oils and Fats 1.13 1.24 1.29 1.37 0.1 6.3
5 Chemicals 17.97 17.87 18.70 21.32 2.6 14.0
6 Manufactured goods classified 40.23 42.34 34.86 47.69 12.8 36.8
chiefly by Materials 7 Machinery and Transport Equipment 50.77 62.78 58.25 69.57 11.3 19.4
8 Miscellaneous Manufactured Articles 43.60 48.81 46.40 69.03 22.6 48.8
9 Miscellaneous Transactions and 0.26 0.88 0.26 0.26 0.0 0.1
Commodities
p - preliminary data
r - revised
Imports Performance
According to estimates from the Customs Department,
total merchandise imports were valued at $414.1
million for the 2014 calendar year. This figure shows
an overall increase of 20% or $69 million when
compared to the 2013 imports value. Most of the major
categories of imports registered percentage increases.
As was the case with previous years, most of these
goods (86.5 %) were imported from the United States.
The more notable increases using the standard
international trade classification (SITC) were in crude
materials, inedible except fuels; Beverages and
Tobacco; manufactured goods classified chiefly by
materials; and miscellaneous manufactured materials.
All of which experienced growth of more than 15%
during the 2013 calendar year.
Under the SITC classification:
- Food imports increased by 14.1%.
- Crude Materials, inedible except fuels
increased by 81.5%.
- Machinery and transport equipment
increased by 19.4%.
- Imports of Beverages and Tobacco
recorded an increase of 19.6% during
the 2014 calendar year.
- Manufactured goods classified chiefly
by materials increased by 36.8%.
19
Chart 3. Merchandise Imports Performance: 2002 – 2014.
14
19
20
Table 9. Value of Imports by Month for Calendar Years: 2003 - 2014p.
Month 2003 2004 2005 2006 2007 2008
January 11,690,715 14,271,861 22,233,816 39,311,784 44,610,946 49,424,436
February 18,889,254 16,196,915 23,560,627 30,432,664 35,059,498 44,562,457
March 14,024,219 17,941,443 24,985,824 34,865,149 45,225,220 52,916,943
April 14,245,738 16,775,232 26,945,540 33,935,441 52,925,459 63,050,138
May 14,002,077 16,756,082 22,983,731 40,880,822 55,018,403 54,699,104
June 13,435,246 18,766,357 25,030,636 39,904,185 44,796,678 47,701,485
July 13,556,514 18,876,597 20,842,139 77,206,245 57,276,208 53,091,107
August 11,493,832 19,939,717 24,594,169 38,277,865 46,112,004 44,231,868
September 13,388,680 15,880,725 24,198,684 38,094,620 40,209,840 36,935,295
October 13,710,758 21,079,549 25,843,784 40,414,778 50,546,414 60,641,357
November 14,777,393 20,073,367 29,458,569 45,700,149 47,769,032 44,106,925
December 17,470,762 23,852,131 33,043,083 38,738,006 61,044,056 39,890,670
Total 170,685,188 220,409,976 303,720,602 497,761,708 580,593,758 591,251,785
Month 2009 2010 2011 2012 2013 2014
January 38,642,437 27,498,193 30551032* 32,068,905 30,758,897 32,207,573
February 31,696,148 23,348,573 28052744* 29,921,072 24,826,452 29,961,415
March 34,718,010 28,800,367 17,229,090 29,078,733 29,057,289 33,515,291
April 33,275,102 28,955,734 20,571,775 26,411,837 32,470,364 34,817,426
May 31,954,867 23,329,987 25,896,951 28,136,680 29,184,053 33,591,514
June 36,267,554 22,033,291 25,728,520 24,731,128 25,176,214 32,263,801
July 28,810,925 24,520,668 28,385,135 27,238,909 31,468,278 35,676,517
August 27,704,814 15,110,646 24,958,205 22,591,222 26,733,198 30,361,745
September 27,676,213 23,889,134 24,418,914 25,328,087 26,077,137 37,136,605
October 26,298,914 22,567,053 25,961,614 35,605,420 29,556,112 31,928,881
November 29,403,106 31,822,928 40,371,007 31,755,674 26,875,025 40,982,852
December 28,978,426 30,148,203 26,019,988 30,824,068 32,840,287 41,611,015
Total 375,426,516 302,024,777 318,144,975 343,691,735 345,023,306 414,054,634 * = Estimated value of Imports based on historical data.
21
Chart 4. External Merchandise Imports by Month: 2013 and 2014.
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
Janu
ary
Feb
ruar
y
Mar
ch
Apr
il
May
Jun
e
July
Aug
ust
Sep
tem
ber
Oct
ob
er
No
vem
ber
Dec
emb
er
Millions
2013 2014
Chart 5. External Merchandise Imports by Quarter: 2005 – 2014.
0
20
40
60
80
100
120
140
160
180
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Millions
Quarter 1 Quarter 2 Quarter 3 Quarter 4
21
22
Table 10. Value of Imports by Quarter for the Calendar years: 2003 - 2014p.
Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
2003 44,604,188 41,683,061 38,439,026 45,958,913 170,687,191
2004 48,410,219 52,297,671 54,697,039 65,005,047 220,411,980
2005 70,780,267 74,959,907 69,634,992 88,345,436 303,722,607
2006 104,609,597 114,720,448 153,578,730 124,852,933 497,763,714
2007 124,895,664 152,740,540 143,598,052 159,359,502 580,595,765
2008 146,903,836 165,450,727 134,258,270 144,638,952 591,253,793
2009 105,056,595 101,497,523 84,191,952 84,680,446 375,428,525
2010 79,647,133 74,319,012 63,520,448 84,538,184 302,026,787
2011 75,832,866 72,197,246 77,762,254 92,352,609 318,146,986
2012 91,068,710 79,279,645 75,158,218 98,185,162 343,691,735
2013 84,642,638 86,830,631 84,278,613 89,271,424 345,025,319
2014 95,684,280 100,672,740 103,174,867 114,522,747 414,056,648
* = Estimated value of Imports
Table 11. Percentage Contribution of the Value of Import by Quarter for the Period:
2003 - 2014.
Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
2003 26.1 24.4 22.5 26.9 100.0
2004 22.0 23.7 24.8 29.5 100.0
2005 23.3 24.7 22.9 29.1 100.0
2006 21.0 23.0 30.9 25.1 100.0
2007 21.5 26.3 24.7 27.4 100.0
2008 24.8 28.0 22.7 24.5 100.0
2009 28.0 27.0 22.4 22.6 100.0
2010 26.4 24.6 21.0 28.0 100.0
2011 23.8 22.7 24.4 29.0 100.0
2012 26.5 23.1 21.9 28.6 100.0
2013 24.5 25.2 24.4 25.9 100.0
2014 23.1 24.3 24.9 27.7 100.0
23
Table 12. Percentage Change in the Value of Import by Quarter for the Period:
2003 - 2014.
Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
2003 ….. ….. ….. ….. …..
2004 8.5 25.5 42.3 41.4 29.1
2005 46.2 43.3 27.3 35.9 37.8
2006 47.8 53.0 120.5 41.3 63.9
2007 19.4 33.1 (6.5) 27.6 16.6
2008 17.6 8.3 (6.5) (9.2) 1.8
2009 (28.5) (38.7) (37.3) (41.5) (36.5)
2010 (24.2) (26.8) (24.6) (0.2) (19.6)
2011 (4.8) (2.9) 22.4 9.2 5.3
2012 20.1 9.8 (3.3) 6.3 8.0
2013 (7.1) 9.5 12.1 (9.1) 0.4
2014 13.0 15.9 22.4 28.3 20.0
* = Estimated value of Imports
24
Table 13. Merchandise Imports By Sitc Sections: 2007-2014
(In US$)
S.I.T.C. SECTIONS 2007 2008 2009 2011 2012 2013r 2014p
ALL SECTIONS 497,761,708 580,593,758 375,426,516 318,144,975 343,691,735 345,023,305 414,054,634
0 Food 51,594,804 58,792,704 62,200,819 57,148,268 62,057,831 65,897,793 75,279,358
1 Beverages and Tobacco 14,251,743 16,591,922 15,258,741 19,168,923 17,620,664 18,441,740 22,048,931
2 Crude Materials, Inedible except 17,947,881 17,957,087 9,853,410 7,095,780 6,478,083 4,934,620 8,955,738
Fuels
3 Mineral Fuels, Lubricants & 50,675,697 48,391,042 42,280,439 80,764,092 83,612,670 95,993,850 98,530,702
related Materials
4 Animals and Vegetable Oils and Fats 453,031 621,244
972,912 1,134,666 1,240,122 1,291,685 1,372,964
5 Chemicals 25,183,203 29,911,157 21,925,340 17,974,384 17,865,405 18,699,154 21,320,656
6 Manufactured goods classified 131,776,944 117,244,081 68,369,132 40,227,202 42,344,145 34,857,778 47,690,618
chiefly by Materials
7 Machinery and Transport Equipment 138,390,055 157,524,743 75,780,015 50,765,538 62,777,436 58,248,324 69,566,595
8 Miscellaneous Manufactured Articles 64,673,271 133,094,702 78,238,122 43,602,843 48,813,523 46,399,720 69,030,210
9 Miscellaneous Transactions and 2,815,079 465,076
547,586
263,279
881,855 258,641
258,862
Commodities
p - provisional data
r - revised
25
Table 14. Distribution Of Merchandise Imports By Sitc Sections: 2007 - 2014p.
(In %)
S.I.T.C. SECTIONS 2007 2008 2009 2011 2012 2013r 2014p
ALL SECTIONS 100 100 100 100 100 100 100
0 Food 10.4 10.1 16.6 18.0 18.1 19.1 18.2
1 Beverages and Tobacco 2.9 2.9 4.1 6.0 5.1 5.3 5.3
2 Crude Materials, Lubricants & 3.6 3.1 2.6 2.2 1.9 1.4 2.2
related Materials
3 Mineral Fuels, Lubricants & 10.2 8.3 11.3 25.4 24.3 27.8 23.8
related Materials
4 Animals and Vegetable Oils and Fats 0.1 0.1 0.3 0.4 0.4 0.4 0.3
5 Chemicals 5.1 5.2 5.8 5.6 5.2 5.4 5.1
6 Manufactured goods classified 26.5 20.2 18.2 12.6 12.3 10.1 11.5
chiefly by Materials
7 Machinery and transport equipment 27.8 27.1 20.2 16.0 18.3 16.9 16.8
8 Miscellaneous Manufactured Articles 13.0 22.9 20.8 13.7 14.2 13.4 16.7
9 Miscellaneous Transactions and 0.6 0.1 0.1 0.1 0.3 0.1 0.1
commodities
p- provisional data
26
Table 15. Merchandise Imports by SITC Division: 2012-2014P
Description 2012 2013r 2014P
0 Food and live animals 62,057,831 65,897,793 75,279,358
00 Live animals other than animals of division 0 19,350 159,038
01 Meat and meat preparations 15,057,855 16,648,240 18,694,023
02 Dairy products and birds' eggs 8,024,948 8,008,516 9,688,743
03 Fish (not marine mammals), crustaceans, molluscs and 4,560,617 4,604,100 5,985,943
aquatic invertebrates, and preparations thereof
04 Cereals and cereal preparations 8,275,284 8,551,151 9,512,758
05 Vegetables and fruit 17,316,085 19,344,889 22,221,679
06 Sugars, sugar preparations and honey 1,531,036 1,230,508 1,388,312
07 Coffee, tea, cocoa, spices, and manufactures thereof 2,363,537 2,289,759 2,516,602
08 Feeding stuff for animals (not including unmilled cereals) 690,233 711,113 679,319
09 Miscellaneous edible products and preparations 4,238,236 4,490,166 4,432,941
1 Beverages and tobacco 17,620,664 18,441,740 22,048,931
11 Beverages 16,732,073 17,731,511 21,183,803
12 Tobacco and tobacco manufactures 888,591.05 710,229 865,128
2 Crude materials, inedible, except fuels 6,478,083 4,934,620 8,955,738
21 Hides, skins and furskins, raw 8,320 1,478
22 Oil-seeds and oleaginous fruits 4,077 6,253 5,260
23 Crude rubber (including synthetic and reclaimed) 1,350,422 46,126 4,522
24 Cork and wood 2,257,973 2,484,212 5,347,207
25 Pulp and waste paper 22,315 3,539 12,813
26 Textile fibres (other than wool tops and other combed wool) 852,971 265,075 258,519
and their wastes (not manufactured into yarn or fabric)
27 Crude fertilizers, other than those of division 56, and crude 548,254 669,521 1,989,296
minerals (excluding coal, petroleum and precious stones)
28 Metalliferous ores and metal scrap 579,322 19,330 2,636
29 Crude animal and vegetable materials, n.e.s. 854,429 1,439,086 1,335,485
3 Mineral fuels, lubricants and related materials 83,612,670 95,993,850 98,530,702
32 Coal, coke and briquettes 64,869 45,449 41,751
33 Petroleum, petroleum products and related materials 81,455,632 93,793,454 95,871,609
34 Gas, natural and manufactured 2,092,162 2,154,947 2,617,342
35 Electric current 8
26
27
Table 15. Merchandise Imports by SITC Division: 2012-2014P (Cont’d)
Description 2012 2013r 2014P
4 Animal and vegetable oils, fats and waxes 1,240,122 1,291,685 1,372,964
41 Animal oils and fats 66,275 84,656 113,555
42 Fixed vegetable fats and oils, crude, refined or fractionated 583,153 461,604 640,658
43 Animal or vegetable fats and oils, processed; waxes of animal 590,694 745,425 618,751
or vegetable origin; inedible mixtures or preparations of
animal or vegetable fats or oils, n.e.s.
5 Chemicals and related products, n.e.s. 17,865,405 18,699,154 21,320,656
51 Organic chemicals 159,659 407,328 306,399
52 Inorganic chemicals 1,021,752 1,108,850 1,045,960
53 Dyeing, tanning and colouring materials 2,958,610 2,539,998 3,248,849
54 Medicinal and pharmaceutical products 3,351,823 3,606,138 3,780,368
55 Essential oils and resinoids and perfume materials; toilet, 6,472,604 7,186,190 7,764,253
polishing and cleansing preparations
56 Fertilizers (other than those of group 272) 240,698 345,560 287,071
57 Plastics in primary forms 78,803 98,635 131,634
58 Plastics in non-primary forms 2,116,687 1,757,453 2,631,191
59 Chemical materials and products, n.e.s. 1,464,771 1,649,004 2,124,931
6 Manufactured goods classified chiefly by material 42,344,145 34,857,778 47,690,618
61 Leather, leather manufactures, n.e.s., and dressed furskins 41,722 18,313 17,233
62 Rubber manufactures, n.e.s. 2,061,744 1,616,714 1,684,909
63 Cork and wood manufactures (excluding furniture) 5,510,923 3,899,137 4,453,317
64 Paper, paperboard and articles of paper pulp, of 4,389,013 3,492,788 3,795,654
paper or of paperboard.
65 Textile yarn, fabrics, made-up articles, n.e.s., and related 4,765,963 5,345,198
products.
66 Non-metallic mineral manufactures, n.e.s. 8,980,095 4,688,113 9,103,587
67 Iron and steel 3,157,893 8,882,798 3,923,736
68 Non-ferrous metals 1,118,590 1,126,474 1,157,277
69 Manufactures of metals, n.e.s. 12,318,203 11,133,441 18,209,705
27
28
Table 15. Merchandise Imports by SITC Division: 2012-2014P (Cont’d)
Description 2012 2013r 2014P
7 Machinery and transport equipment 62,777,436 58,248,324 69,566,595
71 Power-generating machinery and equipment 5,406,349 4,246,276 5,505,034
72 Machinery specialized for particular industries 3,097,838 1,245,852 2,718,071
73 Metalworking machinery 100,802 169,908 123,891
74 General industrial machinery and equipment, n.e.s., and 9,074,595 10,076,249 11,015,948
machine parts, n.e.s.
75 Office machines and automatic data-processing machines 3,116,504 2,942,887 3,932,658
76 Telecommunications and sound-recording and reproducing 8,095,130 7,579,461 8,078,212
Apparatus and equipment.
77 Electrical machinery, apparatus and appliances, n.e.s., 12,523,840 13,566,139 15,360,113
electrical parts thereof (including non-electrical counterparts,
n.e.s., and of electrical household-type equipment)
78 Road vehicles (including air-cushion vehicles) 17,813,291 14,588,962 18,646,873
79 Other transport equipment 3,549,088 3,832,590 4,185,794
8 Miscellaneous manufactured articles 48,813,523 46,399,720 69,030,210
81 Prefabricated buildings; sanitary, plumbing, heating and 3,635,734 2,413,146 5,274,164
lighting fixtures and fittings, n.e.s.
82 Furniture, and parts thereof; bedding, mattresses, mattress 9,594,113 7,070,579 7,694,037
supports, cushions and similar stuffed furnishings
83 Travel goods, handbags and similar containers 590,635 556,293 710,929
84 Articles of apparel and clothing accessories 7,343,766 6,992,564 7,650,168
85 Footwear 1,533,143 1,326,606 1,622,683
87 Professional, scientific and controlling instruments and 2,180,007 2,803,417 2,485,897
apparatus, n.e.s.
88 Photographic apparatus, equipment and supplies and optical 4,407,801 5,170,946 4,937,255
goods, n.e.s.; watches and clocks
89 Miscellaneous manufactured articles, n.e.s. 19,528,323 20,066,168 38,655,078
9 Commodities and transactions not classified 881,855 258,641 258,862
elsewhere in the SITC
91 Postal packages not classified according to kind 17,930 229,040 253,409
93 Special transactions and commodities not classified according 5,285 4,959 1,000
to kind.
NEC 858,640 24,642 4,453
p - provisional data
r - revised
28
29
Table 16. Value of Imports by Ports for the Period January to December:
2013 - 2014.
PORTS Imports 2013 Imports 2014 Percentage Change
(%)
Grand Turk Airport and Sea Port 30,112,569 31,067,211 3.2
Provo International Airport 32,391,550 50,594,963 56.2
Providenciales South Dock 279,013,236 325,506,583 16.7
South Caicos Harbour Master 3,344,800 6,549,160 95.8
South Caicos Main Office 161,150 336,716 108.9
Total 345,023,306 414,054,634 20.0
29
30
Table 17: Imports by Country: 2013-2014.
Country Imports 2013r
Imports 2014
Percentage Change (%)
Percentage Contribution
United States 286,147,553 357,985,036 25.1 86.5 Bahamas 44,217,630 45,281,388 2.4 10.9 Saudi Arabia 4,343,982 3,471,838 (20.1) 0.84 Switzerland 3,577,677 2,401,898 (32.9) 0.58 Korea, 1,060,987 1,219,310 14.9 0.29 Dominican Republic 589,185 1,082,857 83.8 0.26 Belize 1,833,178 807,029 (56.0) 0.19 Mexico 1,053,409 420,797 (60.1) 0.10 Jamaica 164,329 178,530 8.6 0.04 Italy 122,760 177,813 44.8 0.04 India 138,862 163,179 17.5 0.04 France 259,765 143,599 (44.7) 0.03 Ukraine 140,592 113,507 (19.3) 0.03 Haiti 109,758 96,461 (12.1) 0.02 Other Countries 1,263,636 511,393 (59.5) 0.12
Total 345,023,306 414,054,634 20.0 100.0 r - revised
Imports by Countries: 2013 and 2014.
IMPORTS BY COUNTRIES AND TRADING BLOCKS
31
Although the Turks and Caicos Islands
are permitted to trade with all countries except
those listed as restricted, there continues to be
poor trading arrangements with our Caribbean
neighbours and other countries outside of
North America. Despite our present status as
an associate member of CARICOM, we still
do not participate directly in the trade regime
established by this organization. The poor
trading arrangement with our Caribbean
neighbours can be partly attributed to indirect
shipping links with these countries. Also, it is
suspected that a portion of the merchandise
goods, which is registered under the USA,
should be classified as goods coming from
other countries, which include CARICOM
countries, since most goods are transshipped
through the USA.
Table 27. Percentage Change (%) in Imports from Major Trading Blocks: 2013 - 2014.
Trading Blocks
2013 2014 %
Change European Union 395,081 363,345 (8.0)
NAFTA 287,266,918 358,438,856 24.8
CARICOM 46,420,569.56 46,847,169.54 0.9
Not much improvement can be seen in
the importation pattern by trading blocks.
NAFTA continues to dominate imports into
the Turks and Caicos Islands, accounting for
$358.4m million or 86.6 percent of the total
import bill. More than 99% of the NAFTA
imports came from the USA in 2014. This
represented a 24.8% increase in imports from
NAFTA countries, when compared to the
previous period. This trade domination by
NAFTA is partly because the Turks and
Caicos Islands continue to have direct trading
links with the continental United States via sea
and airport. DHL, Tropical, along with other
cargo carriers continue to provide weekly and
daily services out of Florida. Similarly to the
2013 calendar year, the goods recorded as
coming from the European Union is
significantly lower than goods coming from
the other trading blocks. The goods imported
from CARICOM countries shows a meager
increase of 0.6% and accounted for $46.8
million or 11.3% of the total import bill. The
Bahamas continue to be the main CARICOM
country that the TCI trades with and represents
the second largest contributor to the TCI
merchandise imports bill, accounting for
10.9% of the total imports.
Efforts are being made by the
government of the Turks and Caicos Islands to
have better trading arrangements with our
regional counterparts. These efforts are being
restricted by lack of proper transport and direct
shipping and air links with these countries.
Also, greater efforts are being made by the
customs department in making sure that these
goods are registered to their originating
shipping destination and not their trans-
shipment point.
31
32
Table 18. Value of Imports of Selected Building Materials: 2013-2014.
Selected Items 2013 2014 %
Change
Portland Cement White cement whether or not artificially coloured 22,575 56,602 150.7
Building cement (grey) 448,492 1,068,660 138.3
Other 590,783 492,119 (16.7)
Aluminous cement 4,190 1,216 (71.0)
Other hydraulic cements 1,706 4,536 165.9
Total 1,067,745 1,623,133 52.0
Pebbles gravel broken or crushed 210,182 468,751 123.0
Total 210,182 468,751 123.0
Silica sands and quartz sands 48,600 75,294 54.9
Other 158,525 371,344 134.2
Total 207,125 446,638 115.6
Bricks blocks tiles and other ceramic Refractory bricks blocks tiles 962,878 1,459,112 51.5
Building bricks 6,116 66,383 985.4
Other 25,074 23,229 (7.4)
Building blocks and bricks 41,518 159,978 285.3
Other 93,050 256,284 175.4
Total 1,128,637 1,964,985 74.1
TOTAL SELECTED ITEMS 2,613,689 4,503,508 72.3
32
33
34
Export Performance
What was the Value of Goods Exported From
the Turks and Caicos Islands in 2014?
The range of goods exported by
the Turks and Caicos Islands
continues to be narrow, with
the export of fisheries products
being the largest category. Data
from the customs department
revealed that total exports of
merchandise goods from the
country were valued at US$6.5
million at the end of 2014,
compared to the US$5.9
million indicated at the end of
2013. This represented an
increase of 9.7 % or $0.6
million in total exports over the
recorded value in 2013.
The main exports
continue to be marine products
(spiny lobster and conch). The
Government of the Turks and
Caicos Islands has
implemented several
initiatives, within the last few
years, to help boost the
performance of this traditional
domestic export sector, and has
yet to reap the benefits of these
initiatives.
Stakeholders are of the
opinion however that these
new initiatives implemented by
the government have not
materialized because proper
policing of the policy still
continues to be a major
concern for the government.
There are major issues of
foreign fishermen fishing in
our waters and engaging in
illegal fishing practices. Also,
there are still issues such as
fishermen catching undersized
lobster, using chemicals on
coral reefs and fishing outside
of the allocated season.
Additionally, the damages to
the coral reefs over the years
from these illegal practices are
now being felt by fishermen.
It is however
understood that the
government will continue to be
vigilant despite being hindered
by the lack of resources. With
the recent introduction of a
closed season for conch it is
expected in the short term that
conch export will decline but in
the long-term conch export
should increase. This recent
announcement is a policy
designed to allow sufficient
time to facilitate the vital
growth and development stages
of the ‘baby conch’.
In recent years the imports of
fishery products have
increased. With greater
diversification of the fishing
industry it is expected that the
export of fisheries products
will increase in the long run.
It is also expected that
domestic demand for these
products will increase. This
should minimize the
importation of these products
and will help to lower the
trade balance.
35
Table 19. Total Merchandise Export: 2002-2014.
Total
Annual Dollar Annual
Year Exports Change in Percentage
(US$) Exports Change
(US$) (%)
2002 8,706,866 1,420,962 19.5
2003 9,847,368 1,140,502 13.1
2004 12,131,986 2,284,618 23.2
2005 14,715,984 2,583,998 21.3
2006 17,610,457 2,894,473 19.7
2007 16,256,306 (1,354,151) (7.7)
2008 24,769,254 8,512,948 52.4
2009 20,757,912 (4,011,342) (16.2)
2010
15,583,764 (5,174,148) (24.9)
2011 14,766,589 (817,175) (5.2)
2012 14,830,261 63,672 0.4
2013p 5,921,451 (8,908,810) (60.1)
2014p 6,494,565 573,114 9.7
p - provisional data
COMMODITIES 2004 2005 2006 2007 2008 2009 2010* 2011* 2012*
Total Traditional Exports 4,893,615 6,453,185 6,453,699 5,605,170 4,291,756 4,223,565 8,968,068 6,188,220 4,930,470
Lobster 2,725,539 2,849,765 3,001,938 2,899,153 1,148,778 1,055,380 1,444,518 2,286,720 2,870,460
Conch 2,168,076 3,589,423 3,451,761 2,706,017 3,142,978 3,168,185 7,523,550 3,901,500 2,060,010
Scalefish 0 13,997 0 0 0 0 0 0 0
Source: DECR Provo (2009 - 2012)
* - The conch season runs from October of 1 year to July of the other and lobster from August to March.
Data from 2004 to 2009 represents the values for calendar years. Data for 2010 - 2012 Represents value for Conch and Lobster season.
Table 19. VALUE OF TRADITIONAL DOMESTIC EXPORTS: 2004-2012
(US$ )
Chart 6. Total Merchandise Export: 2002-2014.
36
37
Balance of Trade
A merchandise trade deficit of approximately $407.6 million was recorded during the calendar year 2014. This was
roughly 20.2 per cent or $68.5 million above the deficit for the corresponding period of 2013. The increase in the deficit
was mainly as a result of the significant increase in the value of imports when compared to a meager increase in the value
of exports. As with previous years there were negative trade balances on all categories of goods. The Islands’ main
trading partner continues to be the United States with more than 86% of total imports arriving from the US and more
than 90% of exports being shipped to the US. Given the lack of a more diversified group of exports, it is likely that the
trade imbalance will continue to increase in the short-term. There is still the potential however of expanding the fisheries
and manufacturing sectors which can result in a more favourable balance of trade.
Table 20: Value of Imports and Exports: 2001 - 2014.
Year Imports Exports
Balance of Visible Trade Domestic Exports
Re-Exports Total Exports
2001 156,808,733 7,087,124 198,780 7,285,904 (149,522,829)
2002 177,464,386 7,720,038 986,828 8,706,866 (168,757,520)
2003 170,685,188 9,412,123 435,245 9,847,368 (160,837,820)
2004 220,409,976 11,117,431 1,014,555 12,131,986 (208,277,991)
2005 303,720,602 12,531,717 2,184,267 14,715,984 (289,004,618)
2006 497,761,708 16,183,004 1,427,453 17,610,457 (480,151,251)
2007 580,593,758 15,769,078 487,228 16,256,306 (564,337,452)
2008 591,251,785 24,500,556 268,698 24,769,254 (566,482,531)
2009 375,426,516 19,404,955 1,352,957 20,757,912 (354,668,604)
2010 302,024,777
15,583,764 (286,441,013)
2011 318,144,975
14,766,589 (303,378,386)
2012 343,691,735
14,830,261 (332,438,157)
2013 345,023,306
5,921,451 (339,101,855)
2014 414,054,634
6,494,565 (407,560,069)
r -revised
37
38
Chart 7. Annual External Merchandise Trade: Performance 2008 – 2014p
38
39
Chart 8. Import and Export Growth Rates: 2002 – 2014.
39
40
PORTS STATISTICS
41
Table 21. Vehicles and Boats Imported for the Period: January - December 2013 and 2014.
Month
Grand Turk Providenciales
Truck/Cars Trucks/Cars Heavy Equipment Boat
2013 2014 (% change) 2013 2014 (% change) 2013 2014 (% change) 2013 2014 (%
change)
January 8 6 (25.0) 43 116 169.8 1 na 1 na
February 5 7 40.0 23 91 295.7 9 na 4 na
March 10 9 (10.0) 69 65 (5.8) 1 na 3 na
April 8 9 12.5 75 129 72.0 4 1 (75.0) 7 na
May 4 18 350.0 43 127 195.3 0 na 9 na
June 4 18 350.0 60 163 171.7 5 na 3 na
July 4 6 50.0 71 111 56.3 1 na 3 na
August 14 18 28.6 152 152 0.0 1 1 0.0 2 na
September 9 19 111.1 70 62 (11.4) 1 0 (100.0) 5 2 (60.0)
October 6 5 (16.7) 85 70 (17.6) 3 4 33.3 4 4 0.0
November 7 7 0.0 11 70 536.4 5 4 (20.0) 3 4 33.3
December 9 22 144.4 96 204 112.5 1 3 200.0 3 4 33.3
Total 88 144 63.6 798 1360 70.4 15 30 100.0 15 46 206.7
NB. Vehicles imported to South Caicos, North Caicos, Middle Caicos and the Cays are included in Providenciales Port
41
42
Table 22. Total TEUs Imported: 2012 - 2014.
Month
Totals
Imported
Container Flat Rack Reefer ISO Tanks
2012 2013 2014 Percentage
Change 2013-2014
2012 2013 2014 Percentage
Change 2013-2014
2012 2013 2014 Percentage
Change 2013-2014
2012 2013 2014 Percentage
Change 2013-2014
January 548 474 704 48.5 110 98 118 20.4 265 295 272 (7.8) 167 141 148 5.0
February 436 443 502 13.3 73 65 90 38.5 200 217 249 14.7 177 137 140 2.2
March 451 473 605 27.9 79 79 100 26.6 248 250 328 31.2 124 162 230 42.0
April 569 581 743 27.9 76 85 126 48.2 290 277 277 0.0 218 159 159 0.0
May 447 559 801 43.3 77 142 127 (10.6) 209 234 273 16.7 103 134 123 (8.2)
June 455 636 604 (5.0) 73 71 75 5.6 247 277 257 (7.2) 128 166 125 (24.7)
July 520 416 678 63.0 70 80 119 48.8 232 153 299 95.4 157 150 174 16.0
August 519 594 590 (0.7) 86 90 111 23.3 245 269 271 0.7 143 141 141 0.0
September 518 520 667 28.3 101 94 155 64.9 218 180 185 2.8 91 115 118 2.6
October 514 549 614 11.8 71 85 148 74.1 219 282 224 (20.6) 98 109 171 56.9
November 455 597 689 15.4 86 110 130 18.2 243 269 239 (11.2) 134 135 140 3.7
December 619 615 786 27.8 80 111 114 2.7 226 274 288 5.1 148 173 221 27.7
6051 6457 7983 23.6 982 1110 1413 27.3 2842 2977 3162 6.2 1688 1722 1890 9.8
Source: Ports * Containers Imported to South Caicos are also included in Imported Containers to Providenciales.
Definitions Pertaining to Statistics
Flat Rack: A container used to transport overweight and over height cargo.
Reefer: Refrigerated container
ISO Tank: Tank container is used to haul up to 6,600 gal of bulk liquid.
Cargo: Includes all imported cargo; containerized or others but excludes aggregate, sand and fuels.
TEU = “Twenty-Foot Equivalent Unit,” a standard linear measurement used in quantifying container traffic flows.
As examples, one twenty-foot long container equals one TEU while one forty-foot container equals two TEUs (i.e., 40'÷ 20' = 2).
Source: AAPA
42
43
Table 23. TEU Imported By Month For The Period January To December: 2012 - 2014.
Month
2012
TOTAL
2013
TOTAL
2014
TOTAL
Container Flat Rack Reefer
ISO Tanks Container
Flat Rack Reefer
ISO Tanks Container
Flat Rack Reefer
ISO Tanks
January 548 110 265 167 1090 474 98 295 141 1008 704 118 272 148 1242
February 436 73 200 156 865 443 65 217 156 881 502 90 249 140 997
March 451 79 248 121 899 473 79 250 121 923 605 100 328 230 1154
April 569 76 290 210 1145 581 85 277 210 1153 743 126 277 159 1356
May 447 77 209 102 835 559 142 234 102 1037 801 127 273 123 1303
June 455 73 247 121 896 636 71 277 121 1105 604 75 257 125 1057
July 520 70 232 148 970 416 80 153 148 797 678 119 299 174 1244
August 519 86 245 138 988 594 90 269 138 1091 590 111 271 141 1110
September 518 101 218 86 923 520 94 180 86 880 667 155 185 118 1093
October 514 71 219 92 896 549 85 282 92 1008 614 148 224 171 1078
November 455 86 243 127 911 597 110 269 127 1103 689 130 239 140 1185
December 619 80 226 139 1064 615 111 274 139 1139 786 114 288 221 1327
Total 6,051 982 2,842 1,607
11,482 6,457 1,110 2,977 1,581
12,125 7,983 1,413 3,162 1,588
14,146
Source: Ports * Containers Imported to South Caicos are also included in Imported Containers to Providenciales.
Definitions Pertaining to Statistics
Flat Rack: A container used to transport overweight and over height cargo.
Reefer: Refrigerated container ISO Tank: Tank container is used to haul up to 6,600 gal of bulk liquid.
Cargo: Includes all imported cargo; containerized or others but excludes aggregate, sand and fuels.
TEU = “Twenty-Foot Equivalent Unit,” a standard linear measurement used in quantifying container traffic flows.
As examples, one twenty-foot long container equals one TEU while one forty-foot container equals two TEUs (i.e., 40'÷ 20' = 2).
Source: AAPA
43
44
Table 24. TEU’s Imported To The South Caicos Port By Month For The Period
January To December: 2012 - 2014.
Month
2012
TOTAL
2013
TOTAL
2014
TOTAL
Container Flat Rack Reefer
ISO Tanks Container
Flat Rack Reefer
ISO Tanks Container
Flat Rack Reefer
ISO Tanks
January 9 1 4 1 15 14 1 5 1 21 7 2 1 10
February 12 12 6 11 41 6 2 3 2 13 8 4 1 13
March 20 2 5 1 28 12 1 4 17 8 2 5 15
April 21 4 1 26 8 4 1 13 7 1 4 2 14
May 9 4 1 14 4 3 2 9 6 1 5 12
June 26 2 6 1 35 4 1 4 1 10 6 4 10
July 14 2 16 9 6 15 9 6 1 16
August 10 4 2 16 9 1 4 1 15 14 28 8 2 52
September 4 3 2 3 12 7 1 4 2 14 27 5 4 1 37
October 17 1 6 24 9 2 4 1 16 13 14 4 2 33
November 7 1 4 1 13 7 8 4 1 20 8 3 5 1 17
December 17 2 3 1 23 8 2 5 1 16 12 1 4 1 18
Total 166 28
46 23
263 97 19
50 13
179 125 55
55 12
247
Source: Ports
* Containers Imported to South Caicos are also included in Imported Containers to Providenciales.
Definitions Pertaining to Statistics Flat Rack: A container used to transport overweight and over height cargo.
Reefer: Refrigerated container ISO Tank: Tank container is used to haul up to 6,600 gal of bulk liquid.
Cargo: Includes all imported cargo; containerized or others but excludes aggregate, sand and fuels.
TEU = “Twenty-Foot Equivalent Unit,” a standard linear measurement used in quantifying container traffic flows.
As examples, one twenty-foot long container equals one TEU while one forty-foot container equals two TEUs (i.e., 40'÷ 20' = 2).
Source: AAPA
44
45
Table 25. Teus Imported To The Grand Turk Port By Month For The Period
January To December: 2012 - 2014.
Month
2012
TOTAL
2013
TOTAL
2014
TOTAL
Container Flat Rack Reefer
ISO Tanks Container
Flat Rack Reefer
ISO Tanks Container
Flat Rack Reefer
ISO Tanks
January 60 24 27 4 115 51 14 38 4 107 59 7 38 6 110
February 53 8 33 10 104 66 19 30 9 124 45 15 36 4 100
March 67 22 27 2 118 51 14 37 6 108 62 17 53 7 139
April 75 9 30 7 121 60 9 34 5 108 106 16 37 8 167
May 70 18 33 0 121 53 54 34 8 149 114 39 73 18 244
June 65 16 25 6 112 65 16 25 6 112 77 25 34 8 144
July 61 2 31 9 103 57 15 36 6 114 183 33 75 16 307
August 55 3 25 3 86 64 13 31 5 113 55 7 29 4 95
September 67 6 33 2 108 72 9 39 10 130 80 24 35 8 147
October 64 4 22 6 96 65 4 33 7 109 73 20 34 7 134
November 57 15 33 6 111 61 16 36 8 121 111 20 39 10 180
December 89 11 50 8 158 93 18 44 10 165 99 32 29 11 171
Total 783 138 369 63
1,353 758 201 417 84
1,460 1,064 255 512 107
1,938 Source: Ports Authority
45
46
Table 26. Vessel Movements Into Turks and Caicos Ports for the Period January to December: 2012 - 2014.
Month
2012 2013 2014 Compliant
Vessel Non-
Compliant Vessels
Local Vessels
Pleasure Compliant Vessel
Non-Compliant
Vessels
Local Vessels
Pleasure Compliant Vessel
Non-Compliant
Vessels
Local Vessels
Pleasure
January 43 10 20 0 39 10 15 4 38 16 22 3
February 46 8 20 4 33 10 17 2 39 16 22 0
March 40 6 13 4 42 11 13 5 43 13 23 1
April 42 12 12 2 42 9 9 3 40 14 17 1
May 36 9 7 4 38 10 13 3 41 10 26 3
June 39 10 15 1 40 11 12 0 41 12 20 4
July 43 10 12 1 41 12 14 1 46 13 32 4
August 41 13 15 1 42 12 21 1 40 11 26 2
September 43 8 16 0 37 7 21 0 47 14 34 0
October 31 10 14 1 36 9 21 1 42 11 26 1
November 37 11 16 2 38 7 18 1 37 11 19 0
December 43 9 18 3 45 9 21 1 42 11 17 1
Total 484 116 178 23 473 117 195 22 496 152 284 20
Source: Ports
46
47
Table 27. Tonnage Imported By Country For Period April 1, 2012 Through March 31, 2013.
Month TOTAL Bahamas Florida Jamaica
Dominican Republic
Haiti
Apr-12 26,687.48 4,486.38 12,451.59 2,331.70 7,340.71 77.10
May-12 17,174.21 4,936.78 9,192.36 0.00 3,023.07 22.00
Jun-12 17,403.80 5,437.71 9,633.49 0.00 2,310.60 22.00
Jul-12 25,289.45 4,942.31 13,665.37 4,631.80 1,999.97 50.00
Aug-12 27,334.44 7,197.70 9,748.43 0.00 10,324.39 63.92
Sep-12 17,725.74 5,830.04 8,845.30 0.00 2,993.40 57.00
Oct-12 15,907.39 4,928.40 8,857.64 0.00 2,121.35 0.00
Nov-12 21,784.25 4,994.75 8,895.21 0.00 7,777.29 117.00
Dec-12 24,294.35 4,767.92 17,336.61 0.00 2,107.82 82.00
Jan-13 20,560.93 6,482.44 8,863.04 0.00 5,193.45 22.00
Feb-13 22,260.91 4,744.10 10,811.86 0.00 6,625.06 79.89
Mar-13 19,601.61 5,196.43 12,132.27 0.00 2,262.91 10.00
TOTAL 256,024.56 63,944.96 130,433.17 6,963.50 54,080.02 602.91
Source: Ports
Table 28. Tonnage Imported By Country For Period April 1, 2013 Through March 31, 2014.
Month TOTAL Bahamas Florida Jamaica
Dominican Republic
Haiti
Apr-13 24,726.31 7,057.59 11,527.04 0.00 6,059.68 82.00
May-13 26,523.87 6,151.56 13,111.25 0.00 7,261.06 0.00
Jun-13 21,215.39 3,089.70 15,680.11 0.00 2,302.15 143.43
Jul-13 33,098.50 7,489.67 11,092.33 4,461.17 10,028.92 26.41
Aug-13 28,062.26 7,678.76 10,960.21 0.00 9,418.71 4.58
Sep-13 18,301.80 4,077.60 9,899.70 0.00 4,255.50 69.00
Oct-13 18,652.92 5,361.05 8,774.07 0.00 4,451.06 66.74
Nov-13 26,626.45 4,335.43 15,038.82 0.00 7,243.20 9.00
Dec-13 29,723.17 6,473.68 12,864.97 0.00 10,232.33 152.19
Jan-14 27,757.88 6,491.98 11,438.39 3,413.29 6,393.22 21.00
Feb-14 32,527.34 5,284.95 11,617.43 9,932.84 5,672.12 20.00
Mar-14 42,540.52 6,837.12 14,319.88 9,964.10 11,308.17 111.25
TOTAL 329,756.41 70,329.09 146,324.20 27,771.40 84,626.12 705.60 Source: TCI Ports Authority
47
48
Table 29. Tonnage Imported By Country For Period April 1, 2014 Through December 31, 2014.
Month TOTAL Bahamas Florida Jamaica Dominican Republic
Haiti Other
Apr-14 35,755.97 5,448.14 15,218.40 0.00 15,089.43 0.00
May-14 27,498.01 6,994.94 10,717.96 0.00 9,770.11 15.00
Jun-14 27,789.89 6,194.97 12,101.74 0.00 9,297.13 119.95 76.10
Jul-14 31,873.60 6,085.05 14,580.77 0.00 10,918.19 16.00 273.59
Aug-14 27,371.63 7,420.74 11,103.81 0.00 8,831.50 15.58
Sep-14 28,451.72 5,797.26 11,474.44 1,811.08 9,033.51 197.93 137.50
Oct-14 38,704.28 5,454.52 16,492.83 0.00 16,721.43 0.00 35.50
Nov-14 31,168.32 4,854.79 16,108.31 0.00 10,205.22 0.00
Dec-14 28,232.86 5,707.96 14,565.72 0.00 7,929.18 30.00
TOTAL 276,846.28 53,958.37 122,363.98 1,811.08 97,795.70 394.46 522.69
Source: TCI Ports Authority
48
49
OTHER STATISTICS
50
Table 30
Gross Domestic Product By Economic Activity
In Current And Constant Prices: 2012-2014
(In US$'000)
ECONOMIC ACTIVITY Current Constant
2012 2013 2014 P 2012 2013 2014 P
Agriculture & Fishing 3,294 3,824 4,128 2,416 2,549 2,671
Mining & Quarrying 2,129 2,338 2,504 984 1,100 1,144
Manufacturing 5,103 5,484 5,818 4,492 4,764 4,907
Electricity & Water Supply 35,253 37,113 40,461 19,921 21,034 22,225
Construction 26,609 29,220 31,301 12,300 13,748 14,298
Wholesale & Retail Trade 24,490 24,124 25,593 16,289 15,654 16,123
Hotels & Restaurants 261,118 267,354 292,173 207,864 207,661 220,239
Transport, Storage & Communication
56,971 57,073 60,320 35,642 35,878 36,640
Financial Intermediation 74,958 70,742 72,600 63,614 61,774 61,192
Real Estate, Renting & Business Activities
67,672 68,603 73,262 46,961 49,336 51,158
Public Administration & Defence; 45,139 50,594 56,469 37,051 37,945 38,704
Compulsory Social Security
Education 21,074 22,259 23,626 17,877 17,822 18,397
Health & Social Work 17,160 18,799 19,890 13,355 13,940 14,320
Other Community, Social & Personal Services
17,989 18,693 19,645 15,344 15,856 16,177
Less FISIM 56,403 55,297 58,095 41,754 40,575 41,386
GROSS VALUE ADDED in Basic Prices
602,556 620,923 669,694 452,355 458,486 476,809
Growth Rate (%) (3.2) 3.0 7.9 (4.8) 1.4 4.0
Taxes on Products 114,065 116,414 128,056 86,662 87,655 94,555
Less Subsidies on Products 898 961 990 682 724 731
GROSS DOMESTIC PRODUCT in Market Prices
715,723 736,376 796,759 538,335 545,417 570,633
Growth Rate (%) (1.8) 2.9 8.2 (2.5) 1.3 4.6
50
51
Table 31. Selected Economic Indicators: 2007 -2014.
INDICATORS UNIT 2007 2008 2009 2010
CURRENT PRICES
Gross Value Added at Basic Prices US $'000 662,102.40 757,608.23 609,315.18 590,228.83
GDP at Market Prices US $'000 773,489.74 862,683.63 703,175.75 686,787.81
Per Capita GDP at Market Prices US $ 22,187.19 23,567.37 19,532.66 19,906.89
Nominal GDP Growth (%)
11.53 (18.49) (2.33)
Nominal GDP Per Capital Growth (%)
6.22 (17.12) 1.92
CONSTANT 2000 PRICES
Gross Value Added at Basic Prices US $'000 513,748.06 570,673.88 452,999.38 453,705.67
GDP at Market Prices US $'000 600,177.34 649,822.69 522,780.66 527,930.04
Per Capita GDP at Market Prices US $ 17,215.80 17,752.29 14,521.68 15,302.32
Real GDP Growth (%)
8.27 (19.55) 0.98
Real GDP Per Capital Growth (%)
3.12 (18.20) 5.38
OTHER
Population No. 34,862 36,605 36,000 34,500
Value of Exports (FOB) US $'000 16,256 24,769 20,758 15,584
Value of Imports (FOB) US $'000 580,594 591,252 375,427 302,025
Balance of Visible Trade US $'000 (564,337) (566,483) (354,669) (286,441)
Trade Balance/ GDP (Real) (%) (94.0) (87.2) (67.8) (54.3)
Trade Balance/ GDP (Nominal) (%) (73.0) (65.7) (50.4) (41.7)
Government Recurrent Revenue (Fiscal Year) US $'000 209,422 200,375 133,963 120,810
Recurrent Revenue to GDP (Real)
34.9 30.8 25.6 22.9
Recurrent Revenue to GDP (Nominal)
Government Recurrent Expenditure (Fiscal Year) US $'000 234,623 215,327 152,150 198,127
Total Stay-Over Visitors No. 285,200 352,271 254,788 288,702
Cruise Ship Visitors No. 315,200 386,942 513,928 617,863
Total External Debt Outstanding (Public Sector) Fiscal Year
65,285 62,472 65,828 188,475
Debt To GDP (Real)
10.9 9.6 12.6 35.7
Debt-to-GDP (Nominal)
8.4 7.2 9.4 27.4
51
52
Table 31. Selected Economic Indicators 2007 - 2014(Cont'd).
INDICATORS UNIT 2011 2012 2013 2014
CURRENT PRICES
Gross Value Added at Basic Prices US $'000 622,337.52 602,555.66 620,923.49 669,693.66
GDP at Market Prices US $'000 728,789.57 715,722.77 736,376.35 796,759.11
Per Capita GDP at Market Prices US $ 21,754.91 22,751.69 21,865.20 22,652.58
Nominal GDP Growth (%) 6.12 (1.79) 2.89 8.20
Nominal GDP Per Capital Growth (%) 9.28 4.58 (3.90) 3.60
CONSTANT 2000 PRICES
Gross Value Added at Basic Prices US $'000 475,212.04 452,355.22 458,485.81 476,809.39
GDP at Market Prices US $'000 552,322.67 538,335.39 545,416.65 570,633.09
Per Capita GDP at Market Prices US $ 16,487.24 17,112.83 16,195.04 16223.61
Real GDP Growth (%) 4.62 (2.53) 1.32 4.62
Real GDP Per Capital Growth (%) 7.74 3.79 (5.36) 0.18
OTHER
Population No. 33,500 31,458 33,678 35,173
Value of Exports (FOB) US $'000 14,767 14,830 5,921 6,495
Value of Imports (FOB) US $'000 318,145 343,692 345,023 414,055
Balance of Visible Trade US $'000 (303,378) (332,636) (339,102) (407,560)
Trade Balance/ GDP (Constant) (%) (54.9) (61.8) (62.2) (71.4)
Trade Balance/ GDP (Current) (%)
(41.6) (46.5) (46.1) (51.2)
Government Recurrent Revenue (Fiscal Year) US $'000 164,605 180,292 200,346
Recurrent Revenue to GDP (Real)
30.7 31.8 36.7
Recurrent Revenue to GDP (Nominal)
Government Recurrent Expenditure (Fiscal Year)
US $'000 162,382 146,570 154,568
Total Stay-Over Visitors No. 354,223 290,236 291,695 435,475
Cruise Ship Visitors No. 655,497 676,647 778,920 971,838
Total External Debt Outstanding (Public Sector) Fiscal Year 215,271 214,565 215,033 209,491
Debt To GDP (Real)
39.0 39.9 39.4 33.6
Debt-to-GDP (Nominal)
29.5 30.0 29.2 24.1
52
53
Table 32. Expenditure On Gross Domestic Product In Current Prices: 2005 - 2014.
Unit: US$'000 2005 2006 2007 2008 2009
TOTAL CONSUMPTION 348,065.474 520,726.421 621,221.465 527,793.447 401,995.051
Government Final Consumption Expenditure 99,406.685 138,872.622 165,508.855 156,769.485 144,875.813
Private Final Consumption Expenditure 248,658.788 381,853.800 455,712.610 371,023.962 257,119.239
GROSS CAPITAL FORMATION 223,793.674 334,494.760 359,368.023 367,008.405 210,860.429
Construction 158,793.145 245,704.932 267,132.430 294,584.207 160,623.474
Transport Equipment 19,596.677 31,808.991 28,493.137 21,566.771 14,986.955
Other Machinery & Equipment 45,403.852 56,980.838 63,742.456 50,857.426 35,250.000
GOODS and SERVICES 6,786.610 (133,329.708) (207,099.744) (32,118.217) 90,320.266
Total Exports of Goods and Services 369,765.984 458,481.368 486,496.953 678,672.298 519,505.422
Exports of Goods 14,715.984 17,610.457 16,256.306 24,769.254 20,757.912
Exports of Services 355,050.000 440,870.911 470,240.647 653,903.044 498,747.510
Total Imports of Goods and Services 362,979.374 591,811.076 693,596.697 710,790.515 429,185.156
Imports of Goods 303,720.602 497,761.708 580,593.758 591,251.785 375,426.516
Imports of Services 59,258.772 94,049.368 113,002.939 119,538.730 53,758.640
GDP at Market Prices 578,645.758 721,891.473 773,489.744 862,683.634 703,175.747
Less: Taxes on Products 80,174.117 105,948.721 112,216.644 105,954.462 94,783.573
Add: Subsidies on Products 642.375 753.906 829.297 879.054 923.007
GROSS VALUE ADDED AT BASIC PRICES 499,114.016 616,696.658 662,102.396 757,608.227 609,315.181
53
54
Table 33. Expenditure On Gross Domestic Product In Current Prices (Us$'000): 2005 – 2014 (Cont’d).
2010 2011 2012 2013 2014
TOTAL CONSUMPTION 334,836.531 449,733.671 465,079.139 458,475.029 505,380.570
Government Final Consumption Expenditure 169,834.246 162,819.419 152,736.135 168,799.251 189,167.184
Private Final Consumption Expenditure 165,002.285 286,914.253 312,343.004 289,675.778 316,213.386
GROSS CAPITAL FORMATION 140,430.109 105,619.108 109,580.006 129,898.026 142,926.843
Construction 97,691.197 68,713.705 65,191.772 71,590.029 76,687.239
Transport Equipment 12,738.912 11,465.021 14,407.015 23,294.554 25,624.009
Other Machinery & Equipment 30,000.000 25,440.383 29,981.220 35,013.444 40,615.595
GOODS and SERVICES 211,521.175 173,436.794 141,063.624 148,003.289 148,451.694
Total Exports of Goods and Services 559,787.034 566,746.769 563,678.609 567,851.729 622,471.190
Exports of Goods 15,583.764 14,766.589 14,830.261 5,921.451 8,372.932
Exports of Services 544,203.270 551,980.180 548,848.348 561,930.278 614,098.258
Total Imports of Goods and Services 348,265.859 393,309.975 422,614.985 419,848.440 474,019.496
Imports of Goods 302,024.777 318,144.975 343,691.735 338,557.492 388,664.001
Imports of Services 46,241.082 75,165.000 78,923.250 81,290.948 85,355.495
GDP at Market Prices 686,787.814 728,789.574 715,722.768 736,376.345 796,759.107
Less: Taxes on Products 97,435.839 107,346.443 114,064.629 116,414.278 128,055.706
Add: Subsidies on Products 876.857 894.394 897.524 961.421 990.264
GROSS VALUE ADDED AT BASIC PRICES 590,228.832 622,337.524 602,555.664 620,923.488 669,693.664
54
55
Table 34. Percentage change in Visitor Arrivals for the Period January to June: 2013 - 2014.
2013 2014
Month Land Base
Arrivals Cruise Arrivals Totals Land-Base
Arrivals Cruise Arrivals Total %Change
January 24,353 77,144 101,497 31,155 95,517 126,672 24.8
February 24,771 66,389 91,160 32,962 72,862 105,824 16.1
March 31,877 29,355 61,232 41,389 84,303 125,692 105.3
April 28,780 44,495 73,275 34,212 74,092 108,304 47.8
May 23,413 69,184 92,597 28,779 71,586 100,365 8.4
June 25,844 54,785 80,629 30,850 79,230 110,080 36.5
July 28,562 55,574 84,136 34,206 97,646 131,852 56.7
August 25,203 75,699 100,902 30,175 73,973 104,148 3.2
September 11,443 62,564 74,007 14,673 66,413 81,086 9.6
October 15,712 69,236 84,948 36,388 68,553 104,941 23.5
November 21,881 82,043 103,924 53,375 81,094 134,469 29.4
December 28,738 92,452 121,190 67311 106,569 173,880 43.5
Total 290,577 778,920 1,069,497 435,475 971,838 1,407,313 31.6
Source: Tourist Board
P- Preliminary
55
56
Table 35. Percentage change in Visitor Arrivals for the Period January to June: 2013 - 2014.
Stay-Over Arrivals Cruise Visitors
Month 2013 2014p Totals %Change 2013 2014p Total %Change
January 24,353 31,155 55,508 27.9 77,144 95,517 172,661 23.8
February 24,771 32,962 57,733 33.1 66,389 72,862 139,251 9.8
March 31,877 41,389 73,266 29.8 29,355 84,303 113,658 187.2
April 28,780 34,212 62,992 18.9 44,495 74,092 118,587 66.5
May 23,413 28,779 52,192 22.9 69,184 71,586 140,770 3.5
June 25,844 30,850 56,694 19.4 54,785 79,230 134,015 44.6
July 28,562 34,206 62,768 19.8 55,574 97,646 153,220 75.7
August 25,203 30,175 55,378 19.7 75,699 73,973 149,672 (2.3)
September 11,443 14,673 26,116 28.2 62,564 66,413 128,977 6.2
October 15,712 36,388 52,100 131.6 69,236 68,553 137,789 (1.0)
November 21,881 53,375 75,256 143.9 82,043 81,094 163,137 (1.2)
December 28,738 67311 96,049 134.2 92,452 106,569 199,021 15.3
Total 290,577 435,475 726,052 49.9 778,920 971,838 1,750,758 24.8
Source: Tourist Board
P- Preliminary
56
57
Table 36. Percentage change in Visitor Arrivals by Quarter: 2013 - 2014.
Stay-Over Arrivals Cruise Visitors
Quarter 2013 2014p Totals %Change 2013 2014p Total %Change
I 81,001 105,506 186,507 30.3 172,888 252,682 425,570 46.2
II 78,037 93,841 171,878 20.3 168,464 224,908 393,372 33.5
III 65,208 79,054 144,262 21.2 193,837 238,032 431,869 22.8
IV 66,331 157,074 223,405 136.8 243,731 256,216 499,947 5.1
Total 290,577 435,475 726,052 49.9 535,189 715,622 1,250,811 33.7
Source: Tourist Board
P- Preliminary
57
58
Table 37. Percentage Change (%) in the Import of Selected Fuel Products for the Period:
2013 - 2014.
DESCRIPTION CUSTOMS VALUE
CUSTOMS VALUE
% Change
2013 2014 2013 - 2014
Gas oils (diesel) 55,223,153 54,667,595 (1.01)
Kerosene of a quality suitable for use as aviation fuel 15,206,514 17,667,627 16.18
Motor Spirit Gasoline 20,923,827 22,091,666 5.58
Kerosene which is NOT of a quality suitable for use as aviation fuel 654 921 40.82
Lubricating oils and grease. 1,056,617 1,042,008 (1.38)
Natural gas 620,287 174,929 (71.80)
Propane 1,406,633 2,410,240 71.35
Total 94,437,686 98,054,986 3.83
Source: ASYCUDA
58
59
STATISTICAL PUBLICATIONS
Quarterly
Trade Bulletin CPI Inflation Rate
Annually
Turks and Caicos Islands Yearbook of
Statistics
Turks and Caicos Islands Quick Facts and
Figures
Social Indicators Trend & Statistics
Vital Statistics Report
Report on Government Finance Statistics
External Trade Report
National Accounts Statistics
Labour and Employment Report
Education Statistics Report
Other
Survey of Departing Visitors
Population and Housing Census Report
TCI Gender Profile
TCI Environment a Closer Look
Standard of Living Assessment
60
Strategic Policy and Planning Department South Base Grand Turk
Turks and Caicos Islands Phone: 946-2801. Ext: 11201-11212