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Cayman Islands Economy 2011
https://theodora.com/wfb2011/cayman_islands/cayman_islands_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















Cayman Islands Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 11, 2011

Economy - overview:
With no direct taxation, the islands are a thriving offshore financial center. More than 93,000 companies were registered in the Cayman Islands as of 2008, including almost 300 banks, 800 insurers, and 10,000 mutual funds. A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 1.9 million in 2008, with about half from the US. About 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world.

GDP (purchasing power parity):
$2.25 billion (2008 est.)
country comparison to the world: 183

$2.23 billion (2003 est.)
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$2.25 billion (2008 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.1% (2008 est.)
country comparison to the world: 176

0.9% (2004 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$43,800 (2004 est.)
country comparison to the world: 15
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 1.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 3.2%
[see also: GDP - composition by sector - industry country ranks ]
services: 95.4% (1994 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
39,000
country comparison to the world: 199
note: nearly 55% are non-nationals (2007)
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 19.1%
[see also: Labor force - by occupation - industry country ranks ]
services: 79% (2008 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
4% (2008)
country comparison to the world: 37

4.4% (2004)
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $423.8 million
[see also: Budget - revenues country ranks ]
expenditures: $392.6 million (2004)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
4.1% (2008)
country comparison to the world: 120

4.4% (2004)
[see also: Inflation rate (consumer prices) country ranks ]

Stock of narrow money:
$334.3 million (31 December 2008)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$5.564 billion (31 December 2008 est.)


[see also: Stock of broad money country ranks ]

Market value of publicly traded shares:
$NA (31 December 2008)
country comparison to the world: 110

$183.5 million (31 December 2007)
$188.4 million (31 December 2006)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
vegetables, fruit; livestock; turtle farming

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

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Electricity - production:
546 million kWh (2007 est.)
country comparison to the world: 157
[see also: Electricity - production country ranks ]

Electricity - consumption:
507.8 million kWh (2007 est.)
country comparison to the world: 162
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 198
[see also: Oil - production country ranks ]

Oil - consumption:
3,000 bbl/day (2009 est.)
country comparison to the world: 178
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 205
[see also: Oil - exports country ranks ]

Oil - imports:
3,294 bbl/day (2007 est.)
country comparison to the world: 168
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 194
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 188
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 200
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 193
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 194
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 195
[see also: Natural gas - proved reserves country ranks ]

Exports:
$13.8 million (2008)
country comparison to the world: 211

$2.52 million (2004)
[see also: Exports country ranks ]

Exports - commodities:
turtle products, manufactured consumer goods

Imports:
$876.5 million (2008)
country comparison to the world: 174

$866.9 million (2004)
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, manufactured goods, fuels

Debt - external:
$70 million (1996)
country comparison to the world: 185
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Caymanian dollars (KYD) per US dollar - NA (2007), 0.8496 (2006)


NOTE: The information regarding Cayman Islands on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cayman Islands Economy 2011 information contained here. All suggestions for corrections of any errors about Cayman Islands Economy 2011 should be addressed to the CIA.






This page was last modified 09-Feb-11
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