Overview: The economy depends heavily on tourism (70% of GDP and 75% of foreign currency earnings) and offshore financial services, with the tourist industry aimed at the luxury market and catering mainly to visitors from North America. About 90% of the islands' food and consumer goods needs must be imported. The Caymanians enjoy one of the highest standards of living in the region.

National product: GDP - exchange rate conversion - $670 million (1991 est.)

National product real growth rate: 4.4% (1991)

National product per capita: $23,000 (1991 est.)

Inflation rate (consumer prices): 1.5% (1992 est.)

Unemployment rate: 7% (1992)

Budget:
revenues: $141.5 million
expenditures: $160.7 million, including capital expenditures of $NA (1991)

Exports: $2.6 million (f.o.b., 1991 est.)
commodities: turtle products, manufactured consumer goods
partners: mostly US

Imports: $262.2 million (c.i.f., 1991 est.)
commodities: foodstuffs, manufactured goods
partners: US, Trinidad and Tobago, UK, Netherlands Antilles, Japan

External debt: $15 million (1986)

Industrial production: growth rate NA%

Electricity:
capacity: 74,000 kW
production: 256 million kWh
consumption per capita: 8,780 kWh (1992)

Industries: tourism, banking, insurance and finance, construction, building materials, furniture making

Agriculture: minor production of vegetables, fruit, livestock; turtle farming

Illicit drugs: a major money-laundering center for illicit drug profits; transshipment point for cocaine and marijuana bound for the US and Europe

Economic aid:
recipient: US commitments, including Ex-Im (FY70-89), $26.7 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $35 million

Currency: 1 Caymanian dollar (CI$) = 100 cents
Exchange rates: Caymanian dollars (CI$) per US$1 - 0.85 (22 November 1993)

Fiscal year: 1 April - 31 March

NOTE: The information regarding Cayman Islands on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cayman Islands Economy 1995 information contained here. All suggestions for corrections of any errors about Cayman Islands Economy 1995 should be addressed to the CIA.