| 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 - real growth rate | 0.9% (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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| 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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| 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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| Budget | revenues: $423.8 million
expenditures: $392.6 million; including capital expenditures of $NA (2004) |
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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 -
production by source | fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001) |
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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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| Agriculture - products | vegetables, fruit; livestock; turtle farming |
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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 (2004) |
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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 (2004) |
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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 | KYD |
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| Exchange rates | Caymanian dollars per US dollar - 0.8496 (2006) |
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| Fiscal year | 1 April - 31 March |
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