Introduction - Cayman Islands: |
Location - Cayman Islands: |
People - Cayman Islands: |
Government - Cayman Islands: |
Economy - Cayman Islands: |
Economy overview | With no direct taxation, the islands are a thriving offshore financial center. More than 68,000 companies were registered in the Cayman Islands as of 2003, including almost 500 banks, 800 insurers, and 5,000 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 2.1 million in 2003, 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. |
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Gdp purchasing power parity | $1.939 billion (2004 est.) |
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Gdp official exchange rate | NA |
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Gdp real growth rate | 0.9% (2004 est.) |
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Gdp per capita ppp | $43,800 (2004 est.) |
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Gdp composition by sector | agriculture: 1.4%
industry: 3.2%
services: 95.4% (1994 est.) |
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Labor force | 23,450 (2004) |
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Labor force by occupation | agriculture: 1.4%
industry: 12.6%
services: 86% (1995) |
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Unemployment rate | 4.4% (2004) |
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Population below poverty line | NA% |
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Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% |
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Inflation rate consumer prices | 4.4% (2004) |
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Budget | revenues: $423.8 million
expenditures: $392.6 million; including capital expenditures of $NA (2004) |
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Agriculture products | vegetables, fruit; livestock; turtle farming |
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Industries | tourism, banking, insurance and finance, construction, construction materials, furniture |
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Industrial production growth rate | NA% |
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Electricity production | 400 million kWh (2004) |
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Electricity consumption | 372 million kWh (2004) |
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Electricity exports | 0 kWh (2004) |
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Electricity imports | 0 kWh (2004) |
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Oil production | 0 bbl/day (2004) |
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Oil consumption | 2,600 bbl/day (2004 est.) |
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Oil exports | NA bbl/day |
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Oil imports | NA bbl/day |
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Oil proved reserves | 0 bbl |
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Natural gas production | 0 cu m (2004 est.) |
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Natural gas consumption | 0 cu m (2004 est.) |
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Exports | $2.52 million (2004) |
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Exports commodities | turtle products, manufactured consumer goods |
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Exports partners | mostly US (2006) |
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Imports | $866.9 million (2004) |
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Imports commodities | foodstuffs, manufactured goods |
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Imports partners | US, Netherlands Antilles, Japan (2006) |
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Debt external | $70 million (1996) |
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Economic aid recipient | $390,000 (2004) |
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Currency code | Caymanian dollar (KYD) |
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Exchange rates | Caymanian dollars per US dollar - 0.8496 (2006) |
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Communications - Cayman Islands: |
Transportation - Cayman Islands: |
Military - Cayman Islands: |
This page was last updated on 16 September, 2007