Turks and Caicos Islands

Turks and Caicos Islands ranked No. 126 in total trade value through May with a total of $116.3 million. Exports totaled $114.88 million and Imports totaled $1.42 million, a surplus of $113.47 million.

U.S. trade with Turks and Caicos Islands rose to $102.37 million through May

Turks and Caicos Islands’s trade with the United States rose to $102.37 million through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 9.14 percent below its total trade during the same time period last year. U.S. exports to Turks and Caicos Islands decreased 8.68 percent while U.S. imports from Turks and Caicos Islands fell 35.02 percent. The U.S. surplus with Turks and Caicos Islands was $99.8 million.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Low-Valued Imports and Exports; No. 2 Port of Palm Beach, Fla.; No. 3 Port Everglades, Fla.; No. 4 Port Miami; and No. 5 Miami Int’l Airport. During the same period the previous year, the top five were No. 1 Low-Valued Imports and Exports; No. 2 Port of Palm Beach, Fla.; No. 3 Port Everglades, Fla.; No. 4 Miami Int’l Airport and No. 5 Port Miami. In the current time period, the top five accounted for 97.86 percent of Turks and Caicos Islands’s U.S. trade.

Among those top five:

  • Trade with No. 1 Low-Valued Imports and Exports fell 16.67 percent to $48.08 million.
    Exports fell 16.67 percent to $48.08 million. There were no imports.
  • Trade with No. 2 Port of Palm Beach, Fla. fell 16.91 percent to $32.52 million.
    Exports fell 16.26 percent to $32.46 million. Imports fell 83.82 percent to $60,867.
  • Trade with No. 3 Port Everglades, Fla. fell 19.49 percent to $26.39 million.
    Exports fell 18.85 percent to $26.18 million. Imports fell 60.13 percent to $202,042.
  • Trade with No. 4 Port Miami rose 12.61 percent to $3.51 million.
    Exports rose 14.96 percent to $3.42 million. Imports fell 35.67 percent to $93,393.
  • Trade with No. 5 Miami Int’l Airport fell 19.61 percent to $3.31 million.
    Exports fell 22.27 percent to $2.73 million. Imports fell 3.89 percent to $572,734.

Turks and Caicos Islands ranked No. 126 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 128.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Turks and Caicos Islands by value through May were the categories of Low value shipments; Gasoline, other fuels; Passenger vehicles; Frozen beef; and Jewelry, parts, respectively. They accounted for 55.25 percent of total exports to Turks and Caicos Islands.

The value of the top five categories of U.S. imports from Turks and Caicos Islands –– Returned exports, without change; Estimates of low-value imports; Miscellaneous machine parts; Shrimp, other crustaceans; and Mineral Wools, Expanded Mineral Material & Mi 6806 –– accounted for 91.46 percent of all inbound shipments.

Looking more closely at U.S. exports to Turks and Caicos Islands:

  • Low value shipments fell 16.67 percent compared to last year to $48.08 million.
  • Gasoline, other fuels fell 20.71 percent compared to last year to $7.99 million.
  • Passenger vehicles rose 2.37 percent compared to last year to $3.89 million.
  • Frozen beef fell 18.01 percent compared to last year to $1.78 million.
  • Jewelry, parts fell 43.42 percent compared to last year to $1.72 million.

Looking more closely at U.S. imports from Turks and Caicos Islands:

  • Returned exports, without change fell 29.62 percent compared to last year to $1.05 million.
  • Estimates of low-value imports fell 50.67 percent compared to last year to $80,523.
  • Miscellaneous machine parts rose 1796.84 percent compared to last year to $58,802.
  • Shrimp, other crustaceans fell 22.49 percent compared to last year to $55,840.
  • Mineral Wools, Expanded Mineral Material & Mi 6806 totaled $49,356. The previous year, there were no imports in this category.

In the latest annual figures available, Turks and Caicos Islands recorded $352.15 million in trade with the United States. Total U.S. exports to Turks and Caicos Islands were $ 346.45 million and imports from Turks and Caicos Islands were $5.69 million. The U.S. surplus with Turks and Caicos Islands was $340.76 million.