Insurance and financial services in Turks and Caicos Islands
Turks and Caicos Islands: Insurance and financial services was 10.1% in 2018. ▲ Rising
Insurance and financial services in Turks and Caicos Islands, 2014–2018
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
The most recent figure for insurance and financial services in Turks and Caicos Islands is 10.1%, measured in 2018. That is the highest value across all 5 years on record.
Compared with earlier readings it is up 9.7% on the previous year and up 226.9% over five years.
Turks and Caicos Islands ranks 50th of 197 countries on this measure, in the top quarter.
Insurance and financial services in Turks and Caicos Islands, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 2014 | 3.1% | — |
| 2015 | 3.1% | -0.4% |
| 2016 | 7.4% | +139.8% |
| 2017 | 9.2% | +24.7% |
| 2018 | 10.1% | +9.7% |
Turks and Caicos Islands compared with similar countries
- Turks and Caicos Islands's 10.1% is above the median for high income countries, which is 6.2%, 1.6× the median. (72 countries reporting)
- Turks and Caicos Islands's 10.1% is above the median for Latin America & Caribbean, which is 10.1%, 1.0× the median. (37 countries reporting)
Countries ranked near Turks and Caicos Islands
- 47 Antigua and Barbuda 10.2% compare
- 48 Pakistan 10.2% compare
- 49 Burundi 10.1% compare
- 51 Costa Rica 10.0% compare
- 52 United Kingdom 9.7% compare
- 53 Armenia 9.6% compare
More economy & growth data for Turks and Caicos Islands
- Industry (including construction), value added (constant LCU), annual 9.05 % change on previous year (2024)
- GNI, Atlas method (current US$), per capita 36,764 current US$ per person (2024)
- GNI, Atlas method (current US$), per unit of GDP 0.9802 current US$ per US$ of GDP (2024)
- Industry (including construction), value added (constant 2015 US$) 6,332 constant 2015 US$ per person (2024)
- GNI, Atlas method (current US$), annual growth rate 2.69 % change on previous year (2024)
- GDP (constant LCU), per capita 34,867 constant LCU per person (2024)
- GDP (constant LCU), per unit of GDP 0.9296 constant LCU per US$ of GDP (2024)
- GDP (constant 2015 US$), annual growth rate 5.64 % change on previous year (2024)
- Industry (including construction), value added (constant LCU), per 0.0913 constant LCU per US$ of GDP (2024)
- GDP (constant 2015 US$), per unit of GDP 1.52 constant 2015 US$ per US$ of GDP (2024)
Frequently asked questions
- What is insurance and financial services in Turks and Caicos Islands?
- Insurance and financial services in Turks and Caicos Islands was 10.1% in 2018, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Turks and Caicos Islands?
- The highest recorded value was 10.1% in 2018.
- What is the lowest insurance and financial services recorded in Turks and Caicos Islands?
- The lowest recorded value was 3.1% in 2015.
- How does Turks and Caicos Islands rank for insurance and financial services?
- Turks and Caicos Islands ranks 50th out of 197 countries with data for 2018.
- Where does this Turks and Caicos Islands data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of service imports, BoP). Statizoid updates them automatically from the source API.
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About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service imports which are services provided by non-residents to residents.