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    Cayman Islands Economy - 1990

      Overview: The economy depends heavily on tourism (70% of GDP and 75% of export 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.

      GDP: $238 million, per capita $10,000 (1989 est.); real growth rate 12% (1987 est.)

      Inflation rate (consumer prices): 2.4% (1986)

      Unemployment rate: NA%

      Budget: revenues $46.2 million; expenditures $47.0 million, including capital expenditures of $9.1 million (1986)

      Exports: $2.2 million (f.o.b., 1986 est.); commodities--turtle products, manufactured consumer goods; partners--mostly US

      Imports: $134 million (c.i.f., 1986 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: 59,000 kW capacity; 213 million kWh produced, 8,960 kWh per capita (1989)

      Industries: tourism, banking, insurance and finance, real estate and construction

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

      Aid: US commitments, including Ex-Im (FY70-87), $26.7 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $32.2 million

      Currency: Caymanian dollar (plural--dollars); 1 Caymanian dollar (CI$) = 100 cents

      Exchange rates: Caymanian dollars (CI$) per US$1--0.835 (fixed rate)

      Fiscal year: 1 April-31 March

      NOTE: The information regarding Cayman Islands on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cayman Islands Economy 1990 information contained here. All suggestions for corrections of any errors about Cayman Islands Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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