| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Cayman Islands Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Cayman Islands Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
With no direct taxation, the islands are a thriving offshore financial center. More than 65,000 companies were registered in the Cayman Islands as of 2017, including more than 280 banks, 700 insurers, and 10,500 mutual funds. A stock exchange was opened in 1997. Nearly 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy a standard of living comparable to that of Switzerland.

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 2.1 million in 2016, with more than three-quarters from the US.

GDP (purchasing power parity):
$2.507 billion (2014 est.)
$2.465 billion (2013 est.)
$2.435 billion (2012 est.)
country comparison to the world: 192
[see also: GDP country ranks ]

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

GDP - real growth rate:
1.7% (2014 est.)
1.2% (2013 est.)
1.6% (2012 est.)
country comparison to the world: 163
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$43,800 (2004 est.)
country comparison to the world: 41
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 62.3% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 14.5% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.1% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.1% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 65.4% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -64.2% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 0.3% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 7.4% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 92.3% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

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

Industrial production growth rate:
2.2% (2017 est.)
country comparison to the world: 124
[see also: Industrial production growth rate country ranks ]

Labor force:
39,000 (2007 est.)
note: nearly 55% are non-nationals
country comparison to the world: 197
[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)
4.4% (2004)
country comparison to the world: 51
[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: 874.5 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 766.6 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
38.9% (of GDP) (2017 est.)
country comparison to the world: 51
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
4.8% (of GDP) (2017 est.)
country comparison to the world: 7
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
2% (2017 est.)
-0.6% (2016 est.)
country comparison to the world: 104
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
14.9% (31 December 2017 est.)
14.9% (31 December 2016 est.)
country comparison to the world: 42
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$334.3 million (31 December 2008)
country comparison to the world: 179
[see also: Stock of narrow money country ranks ]

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


country comparison to the world: 100
[see also: Stock of broad money country ranks ]

Market value of publicly traded shares:
$315.6 million (31 December 2015 est.)
$183.5 million (31 December 2007)
$188.4 million (31 December 2006)
country comparison to the world: 115
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$492.6 million (2017 est.)
-$493.5 million (2016 est.)
country comparison to the world: 118
[see also: Current account balance country ranks ]

Exports:
$421.9 million (2017 est.)
$47.6 million (2016 est.)
country comparison to the world: 182
[see also: Exports country ranks ]

Exports - commodities:
turtle products, manufactured consumer goods

Imports:
$787.3 million (2017 est.)
$810.1 million (2016 est.)
country comparison to the world: 189
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, manufactured goods, fuels

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 -
0.82 (2017 est.)
0.82 (2016 est.)
0.82 (2015 est.)
0.82 (2014 est.)
0.83 (2013 est.)


NOTE: 1) The information regarding Cayman Islands on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cayman Islands Economy 2019 information contained here. All suggestions for corrections of any errors about Cayman Islands Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 08-Feb-19
Copyright © 1995- , ITA (all rights reserved).

    . Feedback