EXTERNAL MERCHANDISE TRADE TABLES 2014portstci.com/.../03/TRADE-REPORT-2014-Trade...1.pdf · 8...

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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

mailto:[email protected]

http://www.sppdtci.com/

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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.

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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

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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

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6

GLOSSARY

SITC Standard International Trade Classification

ROW Rest- of- the world

NEC Not elsewhere classified

BEC Broad Economic Classification

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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.

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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

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REVENUE FROM

IMPORTS

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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.

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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

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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

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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

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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

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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

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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

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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.

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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.


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.


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)


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)


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


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

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


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.

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


Change 2013-2014


Change 2013-2014


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.




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


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.




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


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

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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

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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

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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




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




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



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

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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

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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


P- Preliminary

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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


P- Preliminary

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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

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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

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Strategic Policy and Planning Department South Base Grand Turk

Turks and Caicos Islands Phone: 946-2801. Ext: 11201-11212

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