With no direct taxation, the islands are a
thriving offshore financial center. More than 40,000 companies were
registered in the Cayman Islands as of 1997, including almost 600
banks and trust companies; banking assets exceed $500 billion. A stock
exchange was opened in 1997. Tourism is also a mainstay, accounting
for about 70% of GDP and 75% of foreign currency earnings. The tourist
industry is aimed at the luxury market and caters mainly to visitors
from North America. Total tourist arrivals exceeded 1.2 million
visitors in 1997. About 90% of the islands' food and consumer goods
must be imported. The Caymanians enjoy one of the highest outputs per
capita and one of the highest standards of living in the world.

purchasing power parity - $930 million (1997 est.)

5% (1997 est.)

purchasing power parity - $24,500 (1997 est.)

agriculture: 1.4%
industry: 3.2%
services: 95.4% (1994 est.)

NA%

lowest 10%: NA%
highest 10%: NA%

3% (1998)

19,820 (1995)

agriculture 1.4%, industry 12.6%,
services 86% (1995)

5.1% (1996)

revenues: $265.2 million
expenditures: $248.9 million, including capital expenditures of $NA
(1997)

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

NA%

290 million kWh (1998)

fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)

270 million kWh (1998)

0 kWh (1998)

0 kWh (1998)

vegetables, fruit; livestock, turtle farming

$2.17 million (1997)

turtle products, manufactured consumer goods

mostly US

$432 million (1997)

foodstuffs, manufactured goods

US, Trinidad and Tobago, UK, Netherlands Antilles,
Japan

$70 million (1996)

$NA

1 Caymanian dollar (CI$) = 100 cents

Caymanian dollars (CI$) per US$1 - 0.83 (3 November
1995), 0.85 (22 November 1993)

1 April - 31 March