The Cayman Islands has a GDP of $7.24B compared to $277M for Palau, ranking 158/197 and 194/197 by economy size, respectively.
Cayman Islands vs Palau GDP by year
| Year | GDP, current $ | |
|---|---|---|
Cayman Islands
|
Palau
|
|
| 2023 | $7,241,244,269 | $276,733,063 |
| 2022 | $6,660,161,212 | $243,826,813 |
| 2021 | $6,060,813,808 | $231,343,460 |
| 2020 | $5,655,357,984 | $261,688,507 |
| 2019 | $5,941,896,600 | $282,041,290 |
| 2018 | $5,530,178,499 | $287,998,352 |
| 2017 | $5,166,281,293 | $292,148,590 |
| 2016 | $4,909,322,200 | $305,227,020 |
| 2015 | $4,708,167,255 | $287,057,526 |
| 2014 | $4,562,853,582 | $245,591,095 |
| 2013 | $4,405,796,081 | $224,110,611 |
| 2012 | $4,291,004,486 | $215,616,882 |
| 2011 | $4,186,073,160 | $198,742,371 |
| 2010 | $4,156,841,164 | $188,042,374 |
| 2009 | $4,281,714,618 | $189,854,706 |
| 2008 | $4,585,948,969 | $201,067,734 |
| 2007 | $4,466,278,031 | $200,789,764 |
| 2006 | $4,200,288,282 | $193,611,359 |
| 2005 | - | $190,961,685 |
| 2004 | - | $166,363,739 |
| 2003 | - | $154,566,788 |
| 2002 | - | $162,658,722 |
| 2001 | - | $159,446,228 |
| 2000 | - | $149,551,483 |
| 1999 | - | $144,206,500 |
| 1998 | - | $149,079,600 |
| 1997 | - | $143,860,800 |
| 1996 | - | $137,494,600 |
| 1995 | - | $121,018,500 |
| 1994 | - | $106,138,500 |
| 1993 | - | $96,455,700 |
| 1992 | - | $104,771,300 |
| 1991 | - | $106,555,300 |
| 1990 | - | $97,702,303 |
| 1989 | - | $85,800,543 |
| 1988 | - | $75,348,615 |
| 1987 | - | $66,169,905 |
| 1986 | - | $58,109,314 |
| 1985 | - | $51,030,637 |
| 1984 | - | $44,814,259 |
| 1983 | - | $39,661,530 |
| 1982 | - | $36,027,583 |
| 1981 | - | $32,726,594 |
| 1980 | - | $29,728,054 |
| 1979 | - | $27,004,251 |
| 1978 | - | $24,530,015 |
| 1977 | - | $22,308,104 |
| 1976 | - | $20,364,420 |
| 1975 | - | $18,521,112 |
| 1974 | - | $16,848,759 |
| 1973 | - | $15,331,889 |
| 1972 | - | $13,956,474 |
| 1971 | - | $12,706,874 |
| 1970 | - | $11,563,041 |
Data sources: World Bank | Economy & Growth (1970–2023, retrieved 2026-04-06).
GeoRank.org/economy/cayman-islands/palau | CC BY 
GDP per capita in Cayman Islands vs Palau by year
| Year | Current $ | |||
|---|---|---|---|---|
|
Cayman Islands
|
Palau
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 2023 | $99,144 | $88,428 | $15,611 | $18,230 |
| 2022 | $93,031 | $82,296 | $13,730 | $17,185 |
| 2021 | $86,450 | $74,160 | $13,009 | $15,781 |
| 2020 | $82,339 | $66,119 | $14,708 | $17,390 |
| 2019 | $88,254 | $72,697 | $15,847 | $18,422 |
| 2018 | $83,866 | $71,812 | $16,167 | $18,172 |
| 2017 | $80,054 | $68,018 | $16,402 | $17,991 |
| 2016 | $77,802 | $65,680 | $17,150 | $18,235 |
| 2015 | $76,379 | $64,009 | $16,154 | $17,854 |
| 2014 | $75,845 | $63,561 | $13,863 | $16,442 |
| 2013 | $75,114 | $63,648 | $12,699 | $15,425 |
| 2012 | $75,102 | $64,727 | $12,137 | $15,461 |
| 2011 | $75,281 | $66,629 | $10,994 | $14,673 |
| 2010 | $76,838 | $66,325 | $10,222 | $13,443 |
| 2009 | $81,374 | $69,254 | $10,148 | $13,414 |
| 2008 | $89,655 | $76,297 | $10,578 | $14,039 |
| 2007 | $89,888 | $77,337 | $10,403 | $14,308 |
| 2006 | $87,085 | $75,191 | $9,882 | $13,545 |
| 2005 | - | - | $9,635 | $12,960 |
| 2004 | - | - | $8,394 | $12,213 |
| 2003 | - | - | $7,862 | $11,588 |
| 2002 | - | - | $8,340 | $11,704 |
| 2001 | - | - | $8,239 | $11,092 |
| 2000 | - | - | $7,798 | $10,197 |
| 1999 | - | - | $7,630 | $10,388 |
| 1998 | - | - | $8,048 | $11,048 |
| 1997 | - | - | $7,945 | $10,957 |
| 1996 | - | - | $7,788 | $10,800 |
| 1995 | - | - | $7,038 | $9,863 |
| 1994 | - | - | $6,329 | $8,932 |
| 1993 | - | - | $5,892 | $8,348 |
| 1992 | - | - | $6,553 | $9,521 |
| 1991 | - | - | $6,824 | $10,184 |
| 1990 | - | - | $6,403 | $9,609 |
| 1989 | - | - | $5,741 | - |
| 1988 | - | - | $5,145 | - |
| 1987 | - | - | $4,616 | - |
| 1986 | - | - | $4,144 | - |
| 1985 | - | - | $3,728 | - |
| 1984 | - | - | $3,360 | - |
| 1983 | - | - | $3,049 | - |
| 1982 | - | - | $2,838 | - |
| 1981 | - | - | $2,639 | - |
| 1980 | - | - | $2,423 | - |
| 1979 | - | - | $2,189 | - |
| 1978 | - | - | $1,972 | - |
| 1977 | - | - | $1,781 | - |
| 1976 | - | - | $1,616 | - |
| 1975 | - | - | $1,464 | - |
| 1974 | - | - | $1,328 | - |
| 1973 | - | - | $1,221 | - |
| 1972 | - | - | $1,145 | - |
| 1971 | - | - | $1,081 | - |
| 1970 | - | - | $1,017 | - |
Data sources: World Bank | Economy & Growth (1970–2023, retrieved 2026-04-06).
GeoRank.org/economy/cayman-islands/palau | CC BY
The Cayman Islands' GDP per capita is $99,144, ranking 6/197, compared to $15,611 in Palau, ranking 67/197. Adjusted for purchasing power (GDP per capita PPP), the Cayman Islands ranks 10th at $88,428, while Palau ranks 103rd at $18,230.
Economic indicators
|
Cayman Islands
|
Palau
|
|
|---|---|---|
| Gross domestic product |
$7.24B
2023 |
$277M
2023 |
| GDP rank |
158/197
2023 |
194/197
2023 |
| GDP growth |
5.82%
2022-2023 |
2.22%
2022-2023 |
| GDP per capita |
$99,144
2023 |
$15,611
2023 |
| GDP per capita rank |
6/197
2023 |
67/197
2023 |
| GDP per capita, PPP |
$88,428
2023 |
$18,230
2023 |
| GDP per capita PPP rank |
10/197
2023 |
103/197
2023 |
| Average annual personal income after taxes |
$93,253
2026 |
$9,869
2026 |
| Market capitalization of domestic companies |
$644M
2020 |
n/a |
| Government expenditure, % of GDP |
14%
2025 |
52.3%
2024 |
| Consumer prices inflation |
-0.63%
2015-2016 |
3.6%
2023-2024 |
| Unemployment rate |
4.24%
2015 |
2.09%
2023 |
| Population |
77619
|
17629
|
Inflation comparison by year
| Year | Consumer prices inflation | |
|---|---|---|
|
Cayman Islands
|
Palau
|
|
| 2024 | - | 3.6% |
| 2023 | - | 12.4% |
| 2022 | - | 13.2% |
| 2021 | - | -0.5% |
| 2020 | - | 0.7% |
| 2019 | - | 0.4% |
| 2018 | - | 2.4% |
| 2017 | - | 1.1% |
| 2016 | -0.63% | -1.3% |
| 2015 | -2.35% | 2.2% |
| 2014 | 1.27% | 4% |
| 2013 | 2.16% | 2.8% |
| 2012 | 1.19% | 5.4% |
| 2011 | 1.33% | 2.6% |
| 2010 | 0.28% | 1.1% |
| 2009 | - | 4.7% |
| 2008 | - | 9.9% |
| 2007 | - | 3% |
| 2006 | - | 4.2% |
| 2005 | - | 3.6% |
| 2004 | - | 0.5% |
| 2003 | - | 0.6% |
| 2002 | - | -0.3% |
| 2001 | - | -0.7% |
Data sources: International Monetary Fund (IMF) | World Economic Outlook (2001–2024, retrieved 2026-02-20); World Bank | Economy & Growth (2010–2016, retrieved 2026-04-06).
GeoRank.org/economy/cayman-islands/palau | CC BY
Over the past 7 years, the Cayman Islands has recorded an average annual inflation rate of 0.46%, compared with 2.4% in Palau. In 2016, inflation was -0.63% in the Cayman Islands and 3.6% in Palau.
Balance of trade
|
Cayman Islands
|
Palau
|
|
|---|---|---|
|
Current account balance
|
-$713M
2023 |
-$134M
2023 |
| Current account balance ranking |
116/190
2023 |
91/190
2023 |
| Current account balance, % of GDP |
-9.84%
2023 |
-48.5%
2023 |
| Goods imports |
$1.64B
2023 |
$164M
2023 |
| Goods exports |
$150M
2023 |
$1.74M
2023 |
| Service imports |
$1.8B
2023 |
$43M
2023 |
| Service exports |
$4.45B
2023 |
$61.9M
2023 |
| Imports of goods and services, % of GDP |
45.8%
2020 |
80.4%
2023 |
| Exports of goods and services, % of GDP |
59.6%
2020 |
26.3%
2023 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Cayman Islands
|
Palau
|
|
|---|---|---|
| Economic freedom | 74 | 62 |
| Economic freedom ranking | 22/197 | 89/197 |
Other economic metrics
|
Cayman Islands
|
Palau
|
|
|---|---|---|
| Services, % of GDP |
86%
2023 |
74.8%
2023 |
| Industry, % of GDP |
7.84%
2023 |
10.1%
2023 |
| Agriculture, forestry, and fishing, % of GDP |
0.42%
2023 |
3.04%
2023 |
|
GNI, Atlas method
|
$5.53B
2023 |
$262M
2023 |
| GNI per capita, PPP |
$68,030
2023 |
$18,320
2023 |
| Total reserves including gold |
$234M
2023 |
n/a |
| Total reserves ranking |
169/177
2023 |
n/a |
|
Net foreign direct investment
|
-$5.52B
2023 |
-$79.9M
2023 |
|
Net inflows of foreign direct investment
|
$35.9B
2024 |
$69.1M
2024 |
|
Net outflows of foreign direct investment
|
$27.2B
2024 |
$0
2024 |
| Poverty at national poverty lines | n/a |
24.9%
2020 |
|
Gross capital formation, % of GDP
|
n/a |
35.6%
2023 |
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/palau | CC BY
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Data sources:
- World Bank | Economy & Growth (1970–2025, retrieved 2026-04-06)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- International Monetary Fund (IMF) | World Economic Outlook (2001–2024, retrieved 2026-02-20)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
- Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
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.
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.