Annual GDP growth in Cayman Islands
Cayman Islands: Annual GDP growth was 5.8% in 2023. ◆ Volatile
Annual GDP growth in Cayman Islands, 2007–2023
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
The most recent figure for annual gdp growth in Cayman Islands is 5.8%, measured in 2023. That is the highest value across all 17 years on record.
That represents a change of up 0.7% on the previous year and up 354.7% over ten years.
Over the whole period, annual gdp growth in Cayman Islands peaked at 5.8% in 2023 and was at its lowest, -7.2%, in 2009.
That places Cayman Islands 30th out of 212 countries with data for 2023, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Annual GDP growth in Cayman Islands, year by year
| Year | % | Change |
|---|---|---|
| 2007 | 3.2% | — |
| 2008 | -0.4% | -111.4% |
| 2009 | -7.2% | +1900.0% |
| 2010 | -2.7% | -62.2% |
| 2011 | 1.2% | -143.0% |
| 2012 | 1.2% | +5.1% |
| 2013 | 1.3% | +4.1% |
| 2014 | 2.6% | +107.0% |
| 2015 | 2.8% | +6.8% |
| 2016 | 3.2% | +14.5% |
| 2017 | 3.2% | -1.9% |
| 2018 | 4.3% | +34.3% |
| 2019 | 3.9% | -8.2% |
| 2020 | -5.0% | -226.3% |
| 2021 | 4.9% | -198.4% |
| 2022 | 5.8% | +18.7% |
| 2023 | 5.8% | +0.7% |
Cayman Islands compared with similar countries
- Cayman Islands's 5.8% is above the median for high income countries, which is 2.1%, 2.7× the median. (83 countries reporting)
- Cayman Islands's 5.8% is above the median for Latin America & Caribbean, which is 3.3%, 1.8× the median. (41 countries reporting)
Biggest year-on-year movements
Years where Annual GDP growth in Cayman Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2009 | -1900.0% | -0.4% | -7.2% |
| 2020 | -226.3% | 3.9% | -5.0% |
| 2021 | +198.4% | -5.0% | 4.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -1.5% | -7.2% | 3.2% | 3 |
| 2010s | 2.1% | -2.7% | 4.3% | 10 |
| 2020s | 2.9% | -5.0% | 5.8% | 4 |
Countries ranked near Cayman Islands
More economy & growth data for Cayman Islands
- Foreign direct investment, net inflows (BoP, current US$), annual -73.72 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 3.18 billion BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita -23,390 BoP, current US$ per person (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.2243 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), gaps -1.74 billion BoP, current US$ (2024)
- Gross value added at basic prices (GVA) 5.96 billion constant 2015 US$ (2024)
- Agriculture, forestry, and fishing, value added 23.72 million constant 2015 US$ (2024)
- Agriculture, forestry, and fishing, value added 29.29 million current LCU (2024)
- Inflation, consumer prices -0.6% (2016)
- Total reserves minus gold 252.10 million current US$ (2024)
Frequently asked questions
- What is annual gdp growth in Cayman Islands?
- Annual gdp growth in Cayman Islands was 5.8% in 2023, according to World Bank – processed by Our World in Data.
- What is the highest annual gdp growth recorded in Cayman Islands?
- The highest recorded value was 5.8% in 2023.
- What is the lowest annual gdp growth recorded in Cayman Islands?
- The lowest recorded value was -7.2% in 2009.
- How does Cayman Islands rank for annual gdp growth?
- Cayman Islands ranks 30th out of 212 countries with data for 2023.
- Is annual gdp growth rising or falling in Cayman Islands?
- Over the last ten years it is up 354.7%. The long-run trend across the full record is volatile.
- Where does this Cayman Islands data come from?
- The figures come from World Bank – processed by Our World in Data, published as part of Annual GDP growth. Statizoid updates them automatically from the source API.
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About this data
Annual GDP growth (%).