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.
$4.78 billion (2019 est.) note: data are in 2017 dollars
$4.61 billion (2018 est.) note: data are in 2017 dollars
$4.409 billion (2017 est.)
1.7% (2014 est.)
1.2% (2013 est.)
1.6% (2012 est.)
$73,600 (2019 est.) note: data are in 2017 dollars
$71,800 (2018 est.) note: data are in 2017 dollars
$69,573 (2017 est.)
$2.25 billion (2008 est.)
2% (2017 est.)
-0.6% (2016 est.)
Moody's rating: Aa3 (1997)
note: The year refers to the year in which the current credit rating was first obtained.
agriculture: 0.3% (2017 est.)
industry: 7.4% (2017 est.)
services: 92.3% (2017 est.)
household consumption: 62.3% (2017 est.)
government consumption: 14.5% (2017 est.)
investment in fixed capital: 22.1% (2017 est.)
investment in inventories: 0.1% (2017 est.)
exports of goods and services: 65.4% (2017 est.)
imports of goods and services: -64.2% (2017 est.)
vegetables, fruit; livestock; turtle farming
tourism, banking, insurance and finance, construction, construction materials, furniture
2.2% (2017 est.)
39,000 (2007 est.)
note: nearly 55% are non-nationals
agriculture: 1.9%
industry: 19.1%
services: 79% (2008 est.)
4% (2008)
4.4% (2004)
total: 13.8%
male: 16.4%
female: 11.4% (2015 est.)
N/A
lowest 10%: NA
highest 10%: NA
revenues: 874.5 million (2017 est.)
expenditures: 766.6 million (2017 est.)
4.8% (of GDP) (2017 est.)
38.9% (of GDP) (2017 est.)
1 April - 31 March
-$492.6 million (2017 est.)
-$493.5 million (2016 est.)
$4.13 billion (2019 est.)
$3.96 billion (2018 est.)
note: Data are in current year dollars and do not include illicit exports or re-exports.
Netherlands 82%, Spain 11% (2019)
recreational boats, gold, broadcasting equipment, sulfates, collector's items (2019)
$2.7 billion (2019 est.) note: data are in current year dollars
$2.52 billion (2018 est.) note: data are in current year dollars
Netherlands 56%, United States 18%, Italy 8%, Switzerland 5% (2019)
recreational boats, ships, gold, refined petroleum, cars (2019)
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: The information regarding Cayman Islands on this page is re-published from the 2022 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Cayman Islands 2022 information contained here. All suggestions for corrections of any errors about Cayman Islands 2022 should be addressed to the CIA or the source cited on each page.
This page was last modified 01 Dec 23, Copyright © 23 ITA all rights reserved.