The Cayman Islands ranked 158/197 by economy size with a GDP of $7.24B and 6/197 by GDP per capita at $99,144.
In 2023, the Cayman Islands made up 0.007% of the world's economy, compared to 0.008% in 2006.
Cayman Islands GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2023 | $7,241,244,269 | 5.82% |
| 2022 | $6,660,161,212 | 5.78% |
| 2021 | $6,060,813,808 | 4.87% |
| 2020 | $5,655,357,984 | -4.95% |
| 2019 | $5,941,896,600 | 3.92% |
| 2018 | $5,530,178,499 | 4.27% |
| 2017 | $5,166,281,293 | 3.18% |
| 2016 | $4,909,322,200 | 3.24% |
| 2015 | $4,708,167,255 | 2.83% |
| 2014 | $4,562,853,582 | 2.65% |
| 2013 | $4,405,796,081 | 1.28% |
| 2012 | $4,291,004,486 | 1.23% |
| 2011 | $4,186,073,160 | 1.17% |
| 2010 | $4,156,841,164 | -2.72% |
| 2009 | $4,281,714,618 | -7.2% |
| 2008 | $4,585,948,969 | -0.36% |
| 2007 | $4,466,278,031 | 3.16% |
| 2006 | $4,200,288,282 | - |
Data sources: World Bank | Economy & Growth (2006–2023, retrieved 2026-04-06).
GeoRank.org/economy/cayman-islands | CC BY 
Cayman Islands GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2023 | $99,144 | $88,428 |
| 2022 | $93,031 | $82,296 |
| 2021 | $86,450 | $74,160 |
| 2020 | $82,339 | $66,119 |
| 2019 | $88,254 | $72,697 |
| 2018 | $83,866 | $71,812 |
| 2017 | $80,054 | $68,018 |
| 2016 | $77,802 | $65,680 |
| 2015 | $76,379 | $64,009 |
| 2014 | $75,845 | $63,561 |
| 2013 | $75,114 | $63,648 |
| 2012 | $75,102 | $64,727 |
| 2011 | $75,281 | $66,629 |
| 2010 | $76,838 | $66,325 |
| 2009 | $81,374 | $69,254 |
| 2008 | $89,655 | $76,297 |
| 2007 | $89,888 | $77,337 |
| 2006 | $87,085 | $75,191 |
Data sources: World Bank | Economy & Growth (2006–2023, retrieved 2026-04-06).
GeoRank.org/economy/cayman-islands | CC BY
The Cayman Islands has a GDP per capita of $99,144, ranking 6/197, a GDP per capita based on purchasing power parity (PPP) of $88,428, ranking 10/197, and a median annual after tax income of $93,253, ranking 3/197.
Cayman Islands GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2023 | 154 | 6 | 7 |
| 2022 | 155 | 7 | 7 |
| 2021 | 154 | 7 | 8 |
| 2020 | 154 | 6 | 9 |
| 2019 | 155 | 4 | 7 |
| 2018 | 157 | 5 | 6 |
| 2017 | 157 | 5 | 7 |
| 2016 | 157 | 5 | 7 |
| 2015 | 158 | 5 | 8 |
| 2014 | 160 | 7 | 9 |
| 2013 | 160 | 7 | 9 |
| 2012 | 159 | 7 | 10 |
| 2011 | 159 | 7 | 8 |
| 2010 | 158 | 5 | 7 |
| 2009 | 155 | 4 | 7 |
| 2008 | 153 | 5 | 7 |
| 2007 | 146 | 4 | 7 |
| 2006 | 145 | 4 | 6 |
Data sources: World Bank | Economy & Growth (2006–2023, retrieved 2026-04-06).
GeoRank.org/economy/cayman-islands | CC BY
Compared with 2006, in 2023 the Cayman Islands is ranked 154th out of 192 by GDP (down from 145th), 6th by GDP per capita (down from 4th), and 7th by GDP per capita PPP (down from 6th).
Economic indicators
Cayman Islands
|
Rank | |
|---|---|---|
| Gross domestic product |
$7.24B
2023 |
158/197 |
| GDP growth |
5.82%
2022-2023 |
26/194 |
| GDP per capita |
$99,144
2023 |
6/197 |
| GDP per capita, PPP |
$88,428
2023 |
10/197 |
| Average annual personal income after taxes |
$93,253
2026 |
3/197 |
| Listed domestic companies |
4
2020 |
103/103 |
| Market capitalization of domestic companies |
$644M
2020 |
95/100 |
| Government expenditure, % of GDP |
14%
2025 |
185/195 |
| Consumer prices inflation |
-0.63%
2015-2016 |
192/195 |
| Unemployment rate |
4.24%
2015 |
121/196 |
| Population |
77619
|
187/197 |
Inflation rate by year
Data sources: World Bank | Economy & Growth (2010–2016, retrieved 2026-04-06).
GeoRank.org/economy/cayman-islands | CC BY
Over the past 7 years, the Cayman Islands has had an average annual inflation rate of 0.46%. In 2016, inflation was -0.63%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Cayman Islands
|
Rank | |
|---|---|---|
|
Current account balance
|
-$713M
2023 |
116/190 |
| Current account balance, % of GDP |
-9.84%
2023 |
162/190 |
| Goods imports |
$1.64B
2023 |
158/189 |
| Goods exports |
$150M
2023 |
170/189 |
| Service imports |
$1.8B
2023 |
125/189 |
| Service exports |
$4.45B
2023 |
97/189 |
| Imports of goods and services, % of GDP |
45.8%
2020 |
87/181 |
| Exports of goods and services, % of GDP |
59.6%
2020 |
41/193 |
Cayman Islands top 10 trading partners
The Cayman Islands' biggest trading partner accounting for 82.2% of all exports and imports is the United States, with a trade balance between the two of -$1.47B: the Cayman Islands exports $36.8M worth of goods and services to the United States and imports $1.5B.
Below is the list of the top 10 trade partners of the Cayman Islands.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
United States
|
$1.54B | 82.2% | $36.8M | $1.5B | Raw materials & minerals | Machinery & equipment |
| 2 |
Jamaica
|
$75.1M | 4.01% | $3.58M | $71.5M | Processed food, beverages & tobacco | Processed food, beverages & tobacco |
| 3 |
United Kingdom
|
$50.3M | 2.69% | $4.94M | $45.4M | Raw agricultural goods | Machinery & equipment |
| 4 |
China
|
$24.3M | 1.3% | $0 | $24.3M | Animal & marine products | Machinery & equipment |
| 5 |
Switzerland
|
$19.4M | 1.04% | $0 | $19.4M | Animal & marine products | Precious metals & jewellery |
| 6 |
Japan
|
$17.7M | 0.95% | $0 | $17.7M | Animal & marine products | Machinery & equipment |
| 7 |
Germany
|
$14.3M | 0.76% | $0 | $14.3M | Animal & marine products | Machinery & equipment |
| 8 |
Panama
|
$12.5M | 0.67% | $0 | $12.5M | Animal & marine products | Chemicals & pharma |
| 9 |
Mexico
|
$12M | 0.64% | $0 | $12M | Animal & marine products | Machinery & equipment |
| 10 |
Italy
|
$11.8M | 0.63% | $0 | $11.8M | Animal & marine products | Processed food, beverages & tobacco |
Top 10 exports
|
Cayman Islands
|
Rank | |
|---|---|---|
| Business & finance services | $3.16B | 50/188 |
| Transport & tourism services | $96.3M | 155/188 |
| Manufacturing & construction services | $54.1M | 97/164 |
| IT & IP services | $43.1M | 127/183 |
| Raw materials & minerals | $15.9M | 164/193 |
| Machinery & equipment | $10.6M | 162/193 |
| Miscellaneous | $8.3M | 106/191 |
| Processed food, beverages & tobacco | $3.96M | 170/192 |
| Raw agricultural goods | $2.66M | 169/193 |
| Metals | $2.64M | 169/192 |
Top 10 imports
|
Cayman Islands
|
Rank | |
|---|---|---|
| Business & finance services | $842M | 93/188 |
| Machinery & equipment | $397M | 158/193 |
| Transport & tourism services | $325M | 153/188 |
| Raw materials & minerals | $306M | 159/193 |
| Chemicals & pharma | $230M | 154/193 |
| Processed food, beverages & tobacco | $211M | 155/193 |
| Textiles & consumer goods | $205M | 149/193 |
| IT & IP services | $172M | 96/182 |
| Animal & marine products | $97.8M | 134/193 |
| Metals | $92.4M | 164/193 |
Economic freedom indices
|
Cayman Islands
|
Rank | |
|---|---|---|
| Economic freedom | 74 | 22/197 |
Other economic metrics
|
Cayman Islands
|
Rank | |
|---|---|---|
| Services, % of GDP |
86%
2023 |
2/191 |
| Industry, % of GDP |
7.84%
2023 |
190/194 |
| Agriculture, forestry, and fishing, % of GDP |
0.42%
2023 |
185/193 |
|
GNI, Atlas method
|
$5.53B
2023 |
157/194 |
| GNI per capita, PPP |
$68,030
2023 |
21/191 |
| Total reserves including gold |
$234M
2023 |
169/177 |
|
Net foreign direct investment
|
-$5.52B
2023 |
169/189 |
|
Net inflows of foreign direct investment
|
$35.9B
2024 |
14/193 |
|
Net outflows of foreign direct investment
|
$27.2B
2024 |
18/193 |
Compare Cayman Islands vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/cayman-islands | CC BY
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Data sources:
- World Bank | Economy & Growth (1985–2025, retrieved 2026-04-06)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2021–2023, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.