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Economy of Cayman Islands vs India compared: GDP & Debt

Updated on by Georank team

The Cayman Islands has a GDP of $7.24B compared to $3.91T for India, ranking 158/197 and 5/197 by economy size, respectively.

Cayman Islands vs India GDP by year

Cayman Islands
India
1x
Year GDP, current $
Cayman Islands India
2024 - $3,909,891,533,858
2023 $7,241,244,269 $3,638,489,096,034
2022 $6,660,161,212 $3,346,107,287,731
2021 $6,060,813,808 $3,167,270,623,260
2020 $5,655,357,984 $2,674,851,578,587
2019 $5,941,896,600 $2,835,606,256,558
2018 $5,530,178,499 $2,702,929,641,649
2017 $5,166,281,293 $2,651,474,262,755
2016 $4,909,322,200 $2,294,796,885,663
2015 $4,708,167,255 $2,103,588,360,045
2014 $4,562,853,582 $2,039,126,479,155
2013 $4,405,796,081 $1,856,721,507,622
2012 $4,291,004,486 $1,827,637,590,410
2011 $4,186,073,160 $1,823,051,829,895
2010 $4,156,841,164 $1,675,615,519,485
2009 $4,281,714,618 $1,341,888,016,995
2008 $4,585,948,969 $1,198,895,139,006
2007 $4,466,278,031 $1,216,736,438,835
2006 $4,200,288,282 $940,259,888,788
2005 - $820,383,763,511
2004 - $709,152,728,831
2003 - $607,700,687,237
2002 - $514,939,140,319
2001 - $485,440,139,204
2000 - $468,395,521,654
1999 - $458,821,052,616
1998 - $421,351,317,225
1997 - $415,867,563,593
1996 - $392,896,866,205
1995 - $360,281,909,643
1994 - $327,274,843,459
1993 - $279,295,648,983
1992 - $288,208,070,278
1991 - $270,105,341,879
1990 - $320,979,026,420
1989 - $296,042,052,945
1988 - $296,589,670,896
1987 - $279,033,584,092
1986 - $248,985,994,041
1985 - $232,511,554,840
1984 - $212,157,645,178
1983 - $218,262,146,413
1982 - $200,715,624,831
1981 - $193,491,368,446
1980 - $186,328,579,302
1979 - $152,995,442,498
1978 - $137,302,319,829
1977 - $121,486,641,441
1976 - $102,716,451,980
1975 - $98,473,832,017
1974 - $99,526,597,934
1973 - $85,517,673,173
1972 - $71,464,700,667
1971 - $67,351,404,352
1970 - $62,422,483,055
1969 - $58,447,995,017
1968 - $53,085,455,871
1967 - $50,134,942,204
1966 - $45,581,230,504
1965 - $59,556,105,229
1964 - $56,480,289,941
1963 - $48,421,923,459
1962 - $42,161,481,858
1961 - $39,232,435,784
1960 - $37,029,883,876

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/cayman-islands/india | CC BY

GDP per capita in Cayman Islands vs India by year

Cayman Islands
GDP per capita

GDP per capita, PPP
India
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cayman Islands India
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $2,695 $11,160
2023 $99,144 $88,428 $2,530 $10,323
2022 $93,031 $82,296 $2,347 $9,207
2021 $86,450 $74,160 $2,240 $8,050
2020 $82,339 $66,119 $1,907 $6,966
2019 $88,254 $72,697 $2,041 $7,151
2018 $83,866 $71,812 $1,966 $6,715
2017 $80,054 $68,018 $1,950 $6,145
2016 $77,802 $65,680 $1,708 $5,800
2015 $76,379 $64,009 $1,584 $5,425
2014 $75,845 $63,561 $1,554 $5,192
2013 $75,114 $63,648 $1,433 $5,014
2012 $75,102 $64,727 $1,429 $4,820
2011 $75,281 $66,629 $1,445 $4,455
2010 $76,838 $66,325 $1,348 $4,206
2009 $81,374 $69,254 $1,095 $3,887
2008 $89,655 $76,297 $993 $3,633
2007 $89,888 $77,337 $1,022 $3,508
2006 $87,085 $75,191 $802 $3,221
2005 - - $710 $2,937
2004 - - $624 $2,682
2003 - - $544 $2,461
2002 - - $469 $2,277
2001 - - $450 $2,200
2000 - - $443 $2,091
1999 - - $442 $2,006
1998 - - $414 $1,852
1997 - - $416 $1,759
1996 - - $401 $1,695
1995 - - $375 $1,579
1994 - - $348 $1,467
1993 - - $303 $1,374
1992 - - $319 $1,309
1991 - - $306 $1,239
1990 - - $371 $1,212
1989 - - $350 -
1988 - - $358 -
1987 - - $345 -
1986 - - $315 -
1985 - - $301 -
1984 - - $281 -
1983 - - $296 -
1982 - - $278.7 -
1981 - - $275 -
1980 - - $271.1 -
1979 - - $228 -
1978 - - $209.4 -
1977 - - $189.6 -
1976 - - $164.1 -
1975 - - $161.1 -
1974 - - $166.7 -
1973 - - $146.6 -
1972 - - $125.3 -
1971 - - $120.7 -
1970 - - $114.4 -
1969 - - $109.5 -
1968 - - $101.6 -
1967 - - $98 -
1966 - - $91 -
1965 - - $121.5 -
1964 - - $117.9 -
1963 - - $103.4 -
1962 - - $92.2 -
1961 - - $87.9 -
1960 - - $84.9 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/cayman-islands/india | CC BY

The Cayman Islands' GDP per capita is $99,144, ranking 6/197, compared to $2,695 in India, ranking 143/197. Adjusted for purchasing power (GDP per capita PPP), the Cayman Islands ranks 10th at $88,428, while India ranks 130th at $11,160.

Economic indicators

Cayman Islands India
Gross domestic product
$7.24B
2023
$3.91T
2024
GDP rank
158/197
2023
5/197
2024
GDP growth
5.82%
2022-2023
6.49%
2023-2024
GDP per capita
$99,144
2023
$2,695
2024
GDP per capita rank
6/197
2023
143/197
2024
GDP per capita, PPP
$88,428
2023
$11,160
2024
GDP per capita PPP rank
10/197
2023
130/197
2024
Government debt n/a
$3.19T
2024
Debt-to-GDP ratio n/a
81.6%
2024
Government debt per person n/a
$2,200
2024
Government debt per person rank n/a
118/185
2024
Average annual personal income after taxes
$93,253
2026
$4,596
2026
Market capitalization of domestic companies
$644M
2020
$5.13T
2024
Number of millionaires n/a
917,000
2025
Number of billionaires n/a
205
2025
Income share by richest 10% n/a
22.1%
2022
Income share by poorest 10% n/a
4.5%
2022
Government expenditure, % of GDP
14%
2025
28.4%
2024
Consumer prices inflation
-0.63%
2015-2016
4.95%
2023-2024
Central bank interest rate n/a
5.25%
2025
Unemployment rate
4.24%
2015
4.17%
2024
Population
77619
1480351380

Inflation comparison by year

Inflation
Cayman Islands

India
1x
Year Consumer prices inflation
Cayman Islands India
2024 - 4.95%
2023 - 5.65%
2022 - 6.7%
2021 - 5.13%
2020 - 6.62%
2019 - 3.73%
2018 - 3.94%
2017 - 3.33%
2016 -0.63% 4.95%
2015 -2.35% 4.91%
2014 1.27% 6.67%
2013 2.16% 10%
2012 1.19% 9.48%
2011 1.33% 8.91%
2010 0.28% 12%
2009 - 10.9%
2008 - 8.35%
2007 - 6.37%
2006 - 5.8%
2005 - 4.25%
2004 - 3.77%
2003 - 3.81%
2002 - 4.3%
2001 - 3.78%
2000 - 4.01%
1999 - 4.67%
1998 - 13.2%
1997 - 7.16%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/cayman-islands/india | CC BY

Over the past 7 years, the Cayman Islands has recorded an average annual inflation rate of 0.46%, compared with 8.13% in India. In 2016, inflation was -0.63% in the Cayman Islands and 4.95% in India.

Top exports between countries

Cayman Islands
Export category Export value
India
Export category Export value
Machinery & equipment $68.1M
Chemicals & pharma $3.38M
Textiles & consumer goods $1.26M
Wood & paper products $234K
Raw agricultural goods $180K
Raw materials & minerals $169K
Processed food, beverages & tobacco $120K
Miscellaneous $60K
Precious metals & jewellery $58K
Metals $19K

Balance of trade

Cayman Islands India
Current account balance
-$713M
2023
-$32.1B
2024
Current account balance ranking
116/190
2023
186/190
2024
Current account balance, % of GDP
-9.84%
2023
-0.82%
2024
Goods imports
$1.64B
2023
$727B
2024
Goods exports
$150M
2023
$447B
2024
Service imports
$1.8B
2023
$197B
2024
Service exports
$4.45B
2023
$375B
2024
Imports of goods and services, % of GDP
45.8%
2020
23.5%
2024
Exports of goods and services, % of GDP
59.6%
2020
21.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Cayman Islands India
Economic freedom 74 52.5
Economic freedom ranking 22/197 146/197
Property rights n/a 48.3
Government integrity n/a 37.8
Judicial effectiveness n/a 52.6
Tax burden n/a 71.2
Government spending n/a 75.7
Fiscal health n/a 6.7
Business freedom n/a 67.4
Labor freedom n/a 59
Monetary freedom n/a 70.9
Trade freedom n/a 61
Investment freedom n/a 40
Financial freedom n/a 40

Other economic metrics

Cayman Islands India
Services, % of GDP
86%
2023
49.9%
2024
Industry, % of GDP
7.84%
2023
24.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.42%
2023
16.3%
2024
GNI, Atlas method
$5.53B
2023
$3.84T
2024
GNI per capita, PPP
$68,030
2023
$11,000
2024
Total reserves including gold
$234M
2023
$643B
2024
Total reserves ranking
169/177
2023
5/177
2024
Net foreign direct investment
-$5.52B
2023
-$2.89B
2024
Net inflows of foreign direct investment
$35.9B
2024
$27.1B
2024
Net outflows of foreign direct investment
$27.2B
2024
$24.2B
2024
Servicing debt to the IMF, % of GNI n/a
2.38%
2024
Poverty at national poverty lines n/a
21.9%
2011
Gross capital formation, % of GDP n/a
32.9%
2024

GDP per capita map

1x

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/india | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  4. TradeMap (2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Fiscal Monitor (2024, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.