The Cayman Islands has a GDP of $7.14B compared to $29.2T for the United States, ranking 159/197 and 1/197 by economy size, respectively.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Cayman Islands
|
United States
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | - | - | $542,390,475,099 | $3,406,320,762,469 |
| 1961 | - | - | $562,640,778,342 | $3,493,704,590,510 |
| 1962 | - | - | $604,729,643,906 | $3,707,855,986,272 |
| 1963 | - | - | $638,380,883,119 | $3,869,417,876,418 |
| 1964 | - | - | $685,631,590,687 | $4,092,402,635,290 |
| 1965 | - | - | $743,503,780,837 | $4,358,345,546,392 |
| 1966 | - | - | $814,082,043,611 | $4,645,793,322,317 |
| 1967 | - | - | $860,737,154,024 | $4,773,211,933,326 |
| 1968 | - | - | $941,639,100,804 | $5,007,791,880,197 |
| 1969 | - | - | $1,018,471,133,697 | $5,164,159,048,266 |
| 1970 | - | - | $1,073,303,000,000 | $5,173,693,085,767 |
| 1971 | - | - | $1,164,850,000,000 | $5,344,048,439,509 |
| 1972 | - | - | $1,279,110,000,000 | $5,624,905,010,373 |
| 1973 | - | - | $1,425,376,000,000 | $5,942,469,134,010 |
| 1974 | - | - | $1,545,243,000,000 | $5,910,347,105,857 |
| 1975 | - | - | $1,684,904,000,000 | $5,898,194,297,823 |
| 1976 | - | - | $1,873,412,000,000 | $6,215,991,006,431 |
| 1977 | - | - | $2,081,826,000,000 | $6,503,430,023,927 |
| 1978 | - | - | $2,351,599,000,000 | $6,863,408,303,981 |
| 1979 | - | - | $2,627,333,000,000 | $7,080,703,002,910 |
| 1980 | - | - | $2,857,307,000,000 | $7,062,521,475,645 |
| 1981 | - | - | $3,207,041,000,000 | $7,241,747,172,534 |
| 1982 | - | - | $3,343,789,000,000 | $7,111,177,473,088 |
| 1983 | - | - | $3,634,038,000,000 | $7,437,138,984,659 |
| 1984 | - | - | $4,037,613,000,000 | $7,975,324,064,261 |
| 1985 | - | - | $4,338,979,000,000 | $8,307,861,210,352 |
| 1986 | - | - | $4,579,631,000,000 | $8,595,533,785,978 |
| 1987 | - | - | $4,855,215,000,000 | $8,892,477,646,208 |
| 1988 | - | - | $5,236,438,000,000 | $9,263,914,872,018 |
| 1989 | - | - | $5,641,580,000,000 | $9,604,107,858,980 |
| 1990 | - | - | $5,963,144,000,000 | $9,785,238,027,789 |
| 1991 | - | - | $6,158,129,000,000 | $9,774,639,354,479 |
| 1992 | - | - | $6,520,327,000,000 | $10,118,950,749,801 |
| 1993 | - | - | $6,858,559,000,000 | $10,397,403,618,243 |
| 1994 | - | - | $7,287,236,000,000 | $10,816,317,372,939 |
| 1995 | - | - | $7,639,749,000,000 | $11,106,673,920,743 |
| 1996 | - | - | $8,073,122,000,000 | $11,525,703,481,346 |
| 1997 | - | - | $8,577,552,000,000 | $12,038,266,260,922 |
| 1998 | - | - | $9,062,817,000,000 | $12,577,957,790,462 |
| 1999 | - | - | $9,631,172,000,000 | $13,180,243,872,015 |
| 2000 | - | - | $10,250,952,000,000 | $13,717,679,619,283 |
| 2001 | - | - | $10,581,929,000,000 | $13,848,757,307,663 |
| 2002 | - | - | $10,929,108,000,000 | $14,084,248,131,241 |
| 2003 | - | - | $11,456,450,000,000 | $14,477,988,212,153 |
| 2004 | - | - | $12,217,196,000,000 | $15,035,068,144,476 |
| 2005 | - | - | $13,039,197,000,000 | $15,558,822,251,117 |
| 2006 | $4,200,288,241 | $4,633,485,654 | $13,815,583,000,000 | $15,992,063,823,933 |
| 2007 | $4,466,278,065 | $4,780,025,440 | $14,474,228,000,000 | $16,312,522,122,065 |
| 2008 | $4,585,949,024 | $4,762,941,572 | $14,769,862,000,000 | $16,331,051,067,049 |
| 2009 | $4,281,714,567 | $4,419,986,800 | $14,478,067,000,000 | $15,910,281,498,378 |
| 2010 | $4,156,841,107 | $4,299,956,080 | $15,048,971,000,000 | $16,339,094,225,153 |
| 2011 | $4,186,073,104 | $4,350,225,241 | $15,599,732,000,000 | $16,594,704,135,317 |
| 2012 | $4,291,004,524 | $4,403,722,295 | $16,253,970,000,000 | $16,974,575,729,098 |
| 2013 | $4,405,796,023 | $4,460,060,480 | $16,880,683,000,000 | $17,334,068,402,874 |
| 2014 | $4,562,853,611 | $4,578,454,034 | $17,608,138,000,000 | $17,771,549,055,751 |
| 2015 | $4,708,167,233 | $4,708,167,233 | $18,295,019,000,000 | $18,295,019,000,000 |
| 2016 | $4,909,322,237 | $4,860,710,643 | $18,804,913,000,000 | $18,627,887,993,268 |
| 2017 | $5,166,281,305 | $5,015,477,902 | $19,612,102,000,000 | $19,085,691,122,935 |
| 2018 | $5,530,178,441 | $5,229,501,758 | $20,656,516,000,000 | $19,651,869,117,583 |
| 2019 | $5,941,896,608 | $5,434,269,977 | $21,539,982,000,000 | $20,159,639,089,698 |
| 2020 | $5,655,358,021 | $5,165,012,420 | $21,354,105,000,000 | $19,723,580,221,938 |
| 2021 | $6,060,026,520 | $5,418,352,633 | $23,681,171,000,000 | $20,917,853,444,668 |
| 2022 | $6,600,843,963 | $5,697,740,751 | $26,006,893,000,000 | $21,443,388,432,051 |
| 2023 | $7,139,428,558 | $5,946,143,785 | $27,720,709,000,000 | $22,062,578,283,267 |
| 2024 | - | - | $29,184,890,000,000 | $22,679,489,969,556 |
Economic indicators
|
Cayman Islands
|
United States
|
|
|---|---|---|
| Gross domestic product |
$7.14B
2023 |
$29.2T
2024 |
| GDP rank |
159/197
2023 |
1/197
2024 |
| GDP growth |
8.16%
2022-2023 |
5.28%
2023-2024 |
| GDP per capita |
$97,750
2023 |
$85,810
2024 |
| GDP per capita rank |
6/197
2023 |
9/197
2024 |
| GDP per capita, PPP |
$86,689
2023 |
$85,810
2024 |
| Government debt | n/a |
$35.3T
2024 |
| Debt-to-GDP ratio | n/a |
122.5%
2025 |
| Government debt per person | n/a |
$103,646
2024 |
| Government debt per person rank | n/a |
2/185
2024 |
| Average annual personal income after taxes |
$82,674
2025 |
$54,474
2025 |
| Market capitalization of domestic companies |
$644M
2020 |
$62.2T
2024 |
| Number of millionaires | n/a |
21,951,319
2024 |
| Number of billionaires | n/a |
902
2025 |
| Income share by richest 10% | n/a |
30.4%
2023 |
| Income share by poorest 10% | n/a |
1.8%
2023 |
| Government expenditure, % of GDP |
14%
2025 |
37.8%
2025 |
| Consumer prices inflation |
-0.63%
2015-2016 |
2.95%
2023-2024 |
| Central bank interest rate | n/a |
4.25%
2025 |
| Unemployment rate |
4.24%
2015 |
4.02%
2024 |
| Population |
76930
|
343323530
|
GDP per capita in Cayman Islands vs United States
The Cayman Islands' GDP per capita is $97,750, ranking 6/197, compared to $85,810 in the United States, ranking 9/197. Adjusted for purchasing power (GDP per capita PPP), the Cayman Islands ranks 10th at $86,689, while the United States ranks 11th at $85,810.
| Year | Current $ | |||
|---|---|---|---|---|
|
Cayman Islands
|
United States
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | - | - | $3,002 | - |
| 1961 | - | - | $3,063 | - |
| 1962 | - | - | $3,242 | - |
| 1963 | - | - | $3,373 | - |
| 1964 | - | - | $3,573 | - |
| 1965 | - | - | $3,827 | - |
| 1966 | - | - | $4,142 | - |
| 1967 | - | - | $4,332 | - |
| 1968 | - | - | $4,692 | - |
| 1969 | - | - | $5,025 | - |
| 1970 | - | - | $5,234 | - |
| 1971 | - | - | $5,609 | - |
| 1972 | - | - | $6,094 | - |
| 1973 | - | - | $6,726 | - |
| 1974 | - | - | $7,226 | - |
| 1975 | - | - | $7,801 | - |
| 1976 | - | - | $8,592 | - |
| 1977 | - | - | $9,453 | - |
| 1978 | - | - | $10,565 | - |
| 1979 | - | - | $11,674 | - |
| 1980 | - | - | $12,613 | - |
| 1981 | - | - | $13,976 | - |
| 1982 | - | - | $14,434 | - |
| 1983 | - | - | $15,544 | - |
| 1984 | - | - | $17,121 | - |
| 1985 | - | - | $18,237 | - |
| 1986 | - | - | $19,071 | - |
| 1987 | - | - | $20,039 | - |
| 1988 | - | - | $21,417 | - |
| 1989 | - | - | $22,857 | - |
| 1990 | - | - | $23,840 | $23,889 |
| 1991 | - | - | $24,293 | $24,342 |
| 1992 | - | - | $25,381 | $25,419 |
| 1993 | - | - | $26,353 | $26,387 |
| 1994 | - | - | $27,662 | $27,695 |
| 1995 | - | - | $28,661 | $28,691 |
| 1996 | - | - | $29,937 | $29,968 |
| 1997 | - | - | $31,430 | $31,459 |
| 1998 | - | - | $32,823 | $32,854 |
| 1999 | - | - | $34,484 | $34,515 |
| 2000 | - | - | $36,330 | $36,330 |
| 2001 | - | - | $37,134 | $37,134 |
| 2002 | - | - | $37,998 | $37,998 |
| 2003 | - | - | $39,490 | $39,490 |
| 2004 | - | - | $41,725 | $41,725 |
| 2005 | - | - | $44,123 | $44,123 |
| 2006 | $87,085 | $75,191 | $46,302 | $46,302 |
| 2007 | $89,888 | $77,337 | $48,050 | $48,050 |
| 2008 | $89,655 | $76,297 | $48,570 | $48,570 |
| 2009 | $81,374 | $69,254 | $47,195 | $47,195 |
| 2010 | $76,838 | $66,325 | $48,651 | $48,643 |
| 2011 | $75,281 | $66,629 | $50,066 | $50,025 |
| 2012 | $75,102 | $64,727 | $51,784 | $51,708 |
| 2013 | $75,114 | $63,648 | $53,410 | $53,297 |
| 2014 | $75,845 | $63,561 | $55,304 | $55,153 |
| 2015 | $76,379 | $64,009 | $57,040 | $56,849 |
| 2016 | $77,802 | $65,680 | $58,207 | $57,977 |
| 2017 | $80,054 | $68,018 | $60,322 | $60,048 |
| 2018 | $83,866 | $71,812 | $63,201 | $62,876 |
| 2019 | $88,254 | $72,697 | $65,605 | $65,228 |
| 2020 | $82,339 | $66,119 | $64,411 | $64,402 |
| 2021 | $86,438 | $74,151 | $71,352 | $71,307 |
| 2022 | $92,202 | $81,803 | $78,035 | $77,861 |
| 2023 | $97,750 | $86,689 | $82,769 | $82,305 |
| 2024 | - | - | $85,810 | $85,810 |
Inflation comparison by year
Over the past 7 years, the Cayman Islands has recorded an average annual inflation rate of 0.46%, compared with 1.62% in the United States. In 2016, inflation was -0.63% in the Cayman Islands and 2.95% in the United States.
| Year | Inflation | ||
|---|---|---|---|
|
Cayman Islands
|
United States
|
Cayman Islands
|
United States
|
| 1996 | - | 2.93% | |
| 1997 | - | 2.34% | |
| 1998 | - | 1.55% | |
| 1999 | - | 2.19% | |
| 2000 | - | 3.38% | |
| 2001 | - | 2.83% | |
| 2002 | - | 1.59% | |
| 2003 | - | 2.27% | |
| 2004 | - | 2.68% | |
| 2005 | - | 3.39% | |
| 2006 | - | 3.23% | |
| 2007 | - | 2.85% | |
| 2008 | - | 3.84% | |
| 2009 | - | -0.36% | |
| 2010 | 0.28% | 1.64% | |
| 2011 | 1.33% | 3.16% | |
| 2012 | 1.19% | 2.07% | |
| 2013 | 2.16% | 1.46% | |
| 2014 | 1.27% | 1.62% | |
| 2015 | -2.35% | 0.12% | |
| 2016 | -0.63% | 1.26% | |
| 2017 | - | 2.13% | |
| 2018 | - | 2.44% | |
| 2019 | - | 1.81% | |
| 2020 | - | 1.23% | |
| 2021 | - | 4.7% | |
| 2022 | - | 8% | |
| 2023 | - | 4.12% | |
| 2024 | - | 2.95% | |
Top exports between countries
|
Cayman Islands
|
|
|---|---|
| Export category | Export value |
| Raw materials & minerals | $15.9M |
| Machinery & equipment | $8.94M |
| Miscellaneous | $7.83M |
| Metals | $2.55M |
| Processed food, beverages & tobacco | $951K |
| Raw agricultural goods | $391K |
| Precious metals & jewellery | $348K |
| Chemicals & pharma | $85K |
| Textiles & consumer goods | $43K |
| Wood & paper products | $22K |
|
United States
|
|
|---|---|
| Export category | Export value |
| Machinery & equipment | $303M |
| Miscellaneous | $284M |
| Raw materials & minerals | $208M |
| Precious metals & jewellery | $104M |
| Textiles & consumer goods | $80.8M |
| Processed food, beverages & tobacco | $71.6M |
| Chemicals & pharma | $66.9M |
| Metals | $50.9M |
| Animal & marine products | $45.3M |
| Raw agricultural goods | $44.4M |
Balance of trade
|
Cayman Islands
|
United States
|
|
|---|---|---|
Current account balance
|
-$713M
2023 |
-$1.19T
2024 |
| Current account balance ranking |
114/189
2023 |
189/189
2024 |
| Current account balance, % of GDP |
-9.98%
2023 |
-4.06%
2024 |
| Goods imports |
$1.64B
2023 |
$3.3T
2024 |
| Goods exports |
$150M
2023 |
$2.08T
2024 |
| Service imports |
$1.8B
2023 |
$841B
2024 |
| Service exports |
$4.45B
2023 |
$1.15T
2024 |
| Imports of goods and services, % of GDP |
45.8%
2020 |
14%
2024 |
| Exports of goods and services, % of GDP |
59.6%
2020 |
10.9%
2024 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Cayman Islands
|
United States
|
|
|---|---|---|
| Economic freedom | 74 | 70.2 |
| Economic freedom ranking | 20/197 | 34/197 |
| Property rights | n/a | 95.4 |
| Government integrity | n/a | 77.3 |
| Judicial effectiveness | n/a | 76.6 |
| Tax burden | n/a | 75.6 |
| Government spending | n/a | 55.8 |
| Fiscal health | n/a | 0 |
| Business freedom | n/a | 88.5 |
| Labor freedom | n/a | 77 |
| Monetary freedom | n/a | 70.7 |
| Trade freedom | n/a | 75.6 |
| Investment freedom | n/a | 70 |
| Financial freedom | n/a | 80 |
More economic indicators
|
Cayman Islands
|
United States
|
|
|---|---|---|
| Services, % of GDP |
85.4%
2022 |
79.7%
2024 |
| Industry, % of GDP |
8.19%
2022 |
17.3%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
0.47%
2022 |
0.85%
2024 |
|
GNI, Atlas method
|
$4.42B
2022 |
$28.5T
2024 |
| GNI per capita, PPP |
$54,040
2022 |
$85,980
2024 |
| Total reserves including gold |
$234M
2023 |
$910B
2024 |
| Total reserves ranking |
169/177
2023 |
3/177
2024 |
|
Net foreign direct investment
|
-$5.52B
2023 |
$25.1B
2024 |
|
Net inflows of foreign direct investment
|
$35.9B
2024 |
$297B
2024 |
|
Net outflows of foreign direct investment
|
$27.2B
2024 |
$322B
2024 |
| Poverty at national poverty lines | n/a |
15.1%
2020 |
|
Gross capital formation, % of GDP
|
n/a |
21.7%
2024 |
GDP per capita map
GDP per capita
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Economy comparisons
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.