| Economy | Cayman Islands |
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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. |
GDP (purchasing power parity):
|
$1.939 billion (2004 est.)
$1.922 billion (2003) |
GDP - per capita (PPP):
|
$43,800 (2004 est.) |
GDP (official exchange rate):
|
$NA |
GDP - real growth rate:
|
0.9% (2004 est.) |
GDP - composition by sector:
|
agriculture: 1.4%
industry: 3.2%
services: 95.4% (1994 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
4.4% (2004) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
void |
Stock of money:
|
void |
Stock of money - per capita:
|
void |
Stock of quasi money:
|
void |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
|
void |
Stock of domestic credit - per capita:
|
void |
Labor force:
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23,450 (2004) |
Labor force participation rate:
|
47.82 % of population |
Labor force - by occupation:
|
agriculture: 1.4%
industry: 12.6%
services: 86% (1995) |
Unemployment rate:
|
4.4% (2004) |
Budget:
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revenues: $423.8 million
expenditures: $392.6 million (2004) |
Budget revenues per capita:
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8,643 USD per capita |
Public debt:
|
void |
Industries:
|
tourism, banking, insurance and finance, construction, construction materials, furniture |
Industrial production growth rate:
|
NA% |
Electricity - production:
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546.1 million kWh (2007 est.) |
Electricity - production per capita:
|
11,137 kWh per capita |
Electricity - consumption:
|
546.1 million kWh (2007 est.) |
Electricity - consumption - per capita:
|
11,137 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
2,767 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
20.60 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2005) |
Oil - imports:
|
2,818 bbl/day (2005) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
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vegetables, fruit; livestock; turtle farming |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
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$2.52 million (2004) |
Exports per capita:
|
52 USD per capita |
Exports - commodities:
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turtle products, manufactured consumer goods |
Exports - partners:
|
void |
Imports:
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$866.9 million f.o.b. (2004) |
Imports per capita:
|
17,680 USD per capita |
Imports - commodities:
|
foodstuffs, manufactured goods |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$70 million (1996) |
Debt - external - per capita:
|
1,428 USD per capita |
Stock of direct foreign investment - at home:
|
$NA |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
$NA |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$183.5 million (31 December 2007) |
Market value of publicly traded shares - per capita:
|
3,743 USD per capita |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$390,000 (2004) |
Economic aid - recipient per capita:
|
1 USD per capita |
Currency (code):
|
Caymanian dollar (KYD) |
Exchange rates:
|
Caymanian dollars (KYD) per US dollar - NA (2007), 0.8496 (2006) |
Fiscal year:
|
1 April - 31 March |
|
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