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. Nearly 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy a standard of living comparable to that of Switzerland.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Fiscal year: Inflation rate (consumer prices): Stock of narrow money: Stock of broad money: Market value of publicly traded shares: Exports: Exports - commodities: Imports: Imports - commodities: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Cayman Islands on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cayman Islands Economy 2014 information contained here. All suggestions for corrections of any errors about Cayman Islands Economy 2014 should be addressed to the CIA.
$2.25 billion (2008 est.)
country comparison to the world: 189
[see also: GDP country ranks ]
$2.25 billion (2008 est.)
[see also: GDP (official exchange rate) country ranks ]
1.1% (2008 est.)
country comparison to the world: 156
[see also: GDP - real growth rate country ranks ]
$43,800 (2004 est.)
country comparison to the world: 17
[see also: GDP - per capita country ranks ]
household consumption: 62.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption:
14.7%
investment in fixed capital:
22.3%
exports of goods and services:
60.8%
imports of goods and services:
-60.5%
agriculture: 0.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry:
28.2%
services:
72.4% (2012 est.)
vegetables, fruit; livestock; turtle farming
tourism, banking, insurance and finance, construction, construction materials, furniture
NA%
[see also: Industrial production growth rate country ranks ]
39,000
country comparison to the world: 198
note:
nearly 55% are non-nationals (2007)
[see also: Labor force country ranks ]
agriculture: 1.9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
19.1%
services:
79% (2008 est.)
4% (2008)
country comparison to the world: 31
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
revenues: $680.1 million
[see also: Budget revenues country ranks ]
expenditures:
$741.8 million (2012 est.)
30.2% of GDP (2012 est.)
country comparison to the world: 93
[see also: Taxes and other revenues country ranks ]
-2.7% of GDP (2012 est.)
country comparison to the world: 104
[see also: Budget surplus (+) or deficit (-) country ranks ]
1 April - 31 March
1.2% (2012 est.)
country comparison to the world: 18
[see also: Inflation rate (consumer prices) country ranks ]
$334.3 million (31 December 2008)
country comparison to the world: 166
[see also: Stock of narrow money country ranks ]
$5.564 billion (31 December 2008 est.)
country comparison to the world: 126
[see also: Stock of broad money country ranks ]
$NA (31 December 2008)
country comparison to the world: 114
[see also: Market value of publicly traded shares country ranks ]
$15 million (2012 est.)
country comparison to the world: 207
[see also: Exports country ranks ]
turtle products, manufactured consumer goods
$698.1 million (2012 est.)
country comparison to the world: 187
[see also: Imports country ranks ]
foodstuffs, manufactured goods, fuels
$NA
[see also: Stock of direct foreign investment - at home country ranks ]
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]
Caymanian dollars (KYD) per US dollar -
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
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This page was last modified 06-Nov-14