Data at glance of Cayman Islands - average on period

variable
real gdp growth
CPI %
Unemployment rate
Debt/GDP %
Current account balance/GDP %

Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here

History

The British colonized the Cayman Islands during the 18th and 19th centuries, and Jamaica -- also a British colony at the time -- administered the islands after 1863. In 1959, the islands became a territory within the Federation of the West Indies. When the Federation dissolved in 1962, the Cayman Islands chose to remain a British dependency. The territory has transformed itself into a significant offshore financial center.

Environment

Area: 264 sq km km2

Climate: tropical marine; warm, rainy summers (May to October) and cool, relatively dry winters (November to April)

Natural resources: fish, climate and beaches that foster tourism

Ethnic characteristics

Groups: Cayman Islander 35.4%, Jamaican 24.8%, Filipino 5.5%, British 5.3%, American 5.2%, Honduran 4.2%, Canadian 3.3%, Indian 2.1%, Cuban 1.6%, Nicaraguan 1%, other 11.1%, unspecified 0.5% (2021 est.)

Languages:

Religions: Protestant 60.8% (includes Church of God 19.5%, Seventh Day Adventist 8.7%, non-denominational 8.3%, Baptist 6.9%, Pentecostal 6.8%, Presbyterian/United Church 5.7%, Anglican 2.8%, Wesleyan Holiness 1.5%, Methodist 0.5%), Roman Catholic 13.6%, Hindu 1.7%, Jehovah's Witness 0.9%, other 4.8%, none 16.7%, unspecified 1.4% (2021 est.)

Government

Capital: George Town (on Grand Cayman)

Government type: parliamentary democracy; self-governing overseas territory of the UK

Executive branch

Chief of state: King CHARLES III (since 8 September 2022); represented by Governor Jane OWEN (since 21 April 2023)

Head of government: Premier André Martin EBANKS (since 6 May 2025)

Legislative branch

Description: Parliament - unicameral

Economic Overview

dominant offshore banking territory; services sector accounts for over 85% of economic activity; recently adopted a fiscal responsibility framework to combat tax evasion and money laundering; large tourism sector; does not have any welfare system; high standard of living

Industries

tourism, banking, insurance and finance, construction, construction materials, furniture

GDP by sector: Agriculture: 0.5% (2022 est.), Industry: 8.2% (2022 est.), Services: 85.4% (2022 est.)

Trade

Export partners: UK 40%, Cyprus 21%, Germany 9%, Grenada 8%, Italy 5% (2023)

Export commodities: aircraft, ships, refined petroleum, natural gas, broadcasting equipment (2023)

Import partners: Germany 30%, USA 29%, Italy 20%, Turkey 5%, China 5% (2023)

Import commodities: ships, refined petroleum, cars, furniture, jewelry (2023)

Geography

Caribbean, three-island group (Grand Cayman, Cayman Brac, Little Cayman) in Caribbean Sea, 240 km south of Cuba and 268 km northwest of Jamaica

Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.