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    Cayman Islands Economy - 1991

      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: $342 million, per capita $13,670 (1989); real growth rate 15% (1988)

      Inflation rate (consumer prices): 5.2% (1988)

      Unemployment rate: NA%

      Budget: revenues $76 million; expenditures $56 million, including capital expenditures of $NA (1988)

      Exports: $1.5 million (f.o.b., 1987 est.); commodities--turtle products, manufactured consumer goods; partners--mostly US

      Imports: $136 million (c.i.f., 1987 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: 74,000 kW capacity; 256 million kWh produced, 9,710 kWh per capita (1990)

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

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

      Economic aid: US commitments, including Ex-Im (FY70-87), $26.7 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $35.0 million

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

      Exchange rates: Caymanian dollars (CI$) per US$1--1.20 (fixed rate)

      Fiscal year: 1 April-31 March

      NOTE: The information regarding Cayman Islands on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cayman Islands Economy 1991 information contained here. All suggestions for corrections of any errors about Cayman Islands Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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