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

Cayman Islands Economy 2013
http://www.theodora.com/wfbcurrent/cayman_islands/cayman_islands_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
GEOGRAPHICAL NAMES Spanish Simplified Chinese French German Russian Hindi Arabic Portuguese


Page last updated on February 5, 2013

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):
$2.25 billion (2008 est.)
country comparison to the world: 189

$2.23 billion (2003 est.)
[see also: GDP 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: 160

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

GDP - per capita:
$43,800 (2004 est.)
country comparison to the world: 17
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 0.2%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 27.6%
services: 72.2% (2012 est.)

Labor force:
39,000
country comparison to the world: 198
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%
services: 79% (2008 est.)

Unemployment rate:
4% (2008)
country comparison to the world: 33

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%

Budget:
revenues: $723.4 million
[see also: Budget revenues country ranks ]
expenditures: $742.8 million (2012 est.)

Taxes and other revenues:
32.1% of GDP (2012 est.)
country comparison to the world: 87
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.9% of GDP (2012 est.)
country comparison to the world: 57
[see also: Budget surplus (+) or deficit (-) country ranks ]

Inflation rate (consumer prices):
1.2% (2012 est.)
country comparison to the world: 16

1.9% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Stock of narrow money:
$334.3 million (31 December 2008)
country comparison to the world: 169
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$5.564 billion (31 December 2008 est.)
country comparison to the world: 126


[see also: Stock of broad money country ranks ]

Market value of publicly traded shares:
$NA (31 December 2008)
country comparison to the world: 114

$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 ]

Exports:
$42.6 million (2012 est.)
country comparison to the world: 199

$40.5 million (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
turtle products, manufactured consumer goods

Imports:
$796.8 million (2012 est.)
country comparison to the world: 182

$851.7 million (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, manufactured goods, fuels

Debt - external:
$70 million (1996)
country comparison to the world: 192
[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 -

0.83 (2012 est.)
0.83 (2011 est.)
0.83 (2010 est.)

Fiscal year:
1 April - 31 March


NOTE: The information regarding Cayman Islands on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cayman Islands Economy 2013 information contained here. All suggestions for corrections of any errors about Cayman Islands Economy 2013 should be addressed to the CIA.


- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.
http://www.theodora.com/wfbcurrent/cayman_islands/cayman_islands_economy.html

This page was last modified 11-Mar-13
Copyright © 1995-2013 ITA all rights reserved.

    . Feedback