Turks and Caicos Islands GDP Annual Growth Rate
Year-on-year change in real (inflation-adjusted) gross domestic product.
GDP Annual Growth Rate in the Turks and Caicos Islands decreased to 5.64 percent in 2024 from 13.73 percent in 2023.
Turks and Caicos Islands GDP Annual Growth Rate — History
Drag or pinch to zoom.
Turks and Caicos Islands GDP Annual Growth Rate — analysis in simple words
Latest reading
GDP Annual Growth Rate in the Turks and Caicos Islands decreased to 5.64 percent in 2024 from 13.73 percent in 2023.
It has fallen in each of the last three years.
Recent trend
A year earlier (2023) it was 13.7%, so the latest figure is 8.1 percentage points lower.
Over the past five years the average was 5.9%, with a range from -33.8% to 29.6%. The latest value is below that five-year average.
Historical context
This data series starts in 2008 and has 17 annual observations. The latest reading is higher than 41% of all of them.
The highest value on record is 74.6% (2017) and the lowest is -33.8% (2020). The long-run average is 8.0%.
Compared with other countries
Among 214 economies with recent data, Turks and Caicos Islands ranks 44th from the top. The median across all these economies is 3.4%, so Turks and Caicos Islands is above the typical country.
Within Latin America & Caribbean (41 economies with data) it ranks 4th; the regional median is 3.1%.
Statistics
- Latest
- 5.6%2024
- Previous
- 13.7%
- 5-year average
- 5.9%
- Long-run average
- 8.0%since 2008
- All-time high
- 74.6%2017
- All-time low
- -33.8%2020
- Observations
- 17Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2024 | 5.6% | ▼ −8.1 pp |
| 2023 | 13.7% | ▼ −0.4 pp |
| 2022 | 14.1% | ▼ −15.5 pp |
| 2021 | 29.6% | ▲ +63.4 pp |
| 2020 | -33.8% | ▼ −38.8 pp |
| 2019 | 5.0% | ▼ −1.8 pp |
| 2018 | 6.8% | ▼ −67.8 pp |
| 2017 | 74.6% | ▲ +67.3 pp |
| 2016 | 7.3% | ▼ −4.1 pp |
| 2015 | 11.3% | ▲ +2.6 pp |
| 2014 | 8.7% | ▲ +7.6 pp |
| 2013 | 1.1% | ▲ +3.7 pp |
| 2012 | -2.7% | ▼ −7.3 pp |
| 2011 | 4.6% | ▲ +3.6 pp |
| 2010 | 1.0% | ▲ +20.5 pp |
| 2009 | -19.6% | ▼ −27.8 pp |
| 2008 | 8.3% |
GDP Annual Growth Rate — Turks and Caicos Islands vs Peers
Latest available reading for each economy (periods may differ). Turks and Caicos Islands highlighted.
More Turks and Caicos Islands indicators
Understanding GDP Annual Growth Rate — a simple guide
What it measures
The percentage change in real GDP — the inflation-adjusted value of all goods and services produced — compared with the previous year.
How it is calculated
Statisticians add up the value of everything produced in the country during the year — goods like cars and rice, and services like banking and healthcare — and remove the effect of price changes (this is called “real” GDP). The growth rate is the percentage change in this real GDP compared with the previous year.
If an economy produced goods and services worth 100 last year and 106 this year (after removing inflation), its GDP growth rate is 6%.
Faster growth usually means businesses are selling more, hiring more people and earning more profit. Very fast growth can sometimes come with rising inflation.
Slow or negative growth means the economy is producing less than before. Negative growth for two quarters in a row is commonly called a recession.
Why it matters for the economy and markets
GDP growth is the broadest single gauge of economic activity. Company revenues, employment and tax collections all tend to move with it, which is why markets follow growth releases and revisions closely.
How to read it
Compare the latest figure with the country’s own long-run average rather than with other countries: fast-growing emerging economies routinely post rates that would be exceptional for a mature economy. Two consecutive quarters of contraction is a common (informal) definition of a recession.
What to look at alongside it
Unemployment, inflation, interest rates, industrial production and company earnings.
Key terms
- Real GDP
- GDP adjusted for inflation, so it shows the actual change in output.
- Recession
- A significant, broad decline in economic activity, often informally defined as two quarters of falling GDP.
- Base effect
- When last year’s figure was unusually low or high, this year’s growth rate can look unusually high or low.
Data source
World Bank — World Development Indicators (series NY.GDP.MKTP.KD.ZG), annual data from 2008 to 2024. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current gdp annual growth rate of Turks and Caicos Islands?
What is the highest and lowest gdp annual growth rate of Turks and Caicos Islands?
What does gdp annual growth rate measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.