Balanced trade in services in Cayman Islands
Cayman Islands: Balanced trade in services was 3.08 US dollars, exchange rate converted in 2024. ▲ Rising
Balanced trade in services in Cayman Islands, 2005–2024
Source: Organisation for Economic Co-operation and Development. Measured in US dollars, exchange rate converted.
Analysis
In 2024, balanced trade in services in Cayman Islands stood at 3.08 US dollars, exchange rate converted. That is the highest value across all 20 years on record.
The figure is up 9.6% on the previous year and up 83.2% over ten years.
Over the whole period, balanced trade in services in Cayman Islands peaked at 3.08 US dollars, exchange rate converted in 2024 and was at its lowest, 1.27 US dollars, exchange rate converted, in 2006.
Cayman Islands ranks 74th of 174 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 20 years of available data.
Balanced trade in services in Cayman Islands, year by year
| Year | US dollars, exchange rate converted | Change |
|---|---|---|
| 2005 | 1.28 US dollars, exchange rate converted | — |
| 2006 | 1.27 US dollars, exchange rate converted | -0.9% |
| 2007 | 1.41 US dollars, exchange rate converted | +10.8% |
| 2008 | 1.51 US dollars, exchange rate converted | +7.3% |
| 2009 | 1.46 US dollars, exchange rate converted | -3.1% |
| 2010 | 1.41 US dollars, exchange rate converted | -3.7% |
| 2011 | 1.47 US dollars, exchange rate converted | +4.4% |
| 2012 | 1.49 US dollars, exchange rate converted | +1.3% |
| 2013 | 1.55 US dollars, exchange rate converted | +4.2% |
| 2014 | 1.68 US dollars, exchange rate converted | +8.2% |
| 2015 | 1.83 US dollars, exchange rate converted | +8.6% |
| 2016 | 1.83 US dollars, exchange rate converted | +0.2% |
| 2017 | 1.96 US dollars, exchange rate converted | +7.1% |
| 2018 | 2.17 US dollars, exchange rate converted | +10.9% |
| 2019 | 2.29 US dollars, exchange rate converted | +5.6% |
| 2020 | 1.35 US dollars, exchange rate converted | -41.1% |
| 2021 | 1.91 US dollars, exchange rate converted | +41.5% |
| 2022 | 2.49 US dollars, exchange rate converted | +30.0% |
| 2023 | 2.81 US dollars, exchange rate converted | +13.0% |
| 2024 | 3.08 US dollars, exchange rate converted | +9.6% |
Cayman Islands compared with similar countries
- Cayman Islands's 3.08 US dollars, exchange rate converted is below the median for high income countries, which is 7.08 US dollars, exchange rate converted, 43% of the median. (56 countries reporting)
- Cayman Islands's 3.08 US dollars, exchange rate converted is below the median for Latin America & Caribbean, which is 3.38 US dollars, exchange rate converted, 91% of the median. (35 countries reporting)
Biggest year-on-year movements
Years where Balanced trade in services 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 |
|---|---|---|---|
| 2020 | -41.1% | 2.29 US dollars, exchange rate converted | 1.35 US dollars, exchange rate converted |
| 2021 | +41.5% | 1.35 US dollars, exchange rate converted | 1.91 US dollars, exchange rate converted |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.39 US dollars, exchange rate converted | 1.27 US dollars, exchange rate converted | 1.51 US dollars, exchange rate converted | 5 |
| 2010s | 1.77 US dollars, exchange rate converted | 1.41 US dollars, exchange rate converted | 2.29 US dollars, exchange rate converted | 10 |
| 2020s | 2.33 US dollars, exchange rate converted | 1.35 US dollars, exchange rate converted | 3.08 US dollars, exchange rate converted | 5 |
Countries ranked near Cayman Islands
- 71 Romania 3.33 US dollars, exchange rate converted compare
- 72 Greece 3.17 US dollars, exchange rate converted compare
- 73 Hungary 3.08 US dollars, exchange rate converted compare
- 75 Oman 3.07 US dollars, exchange rate converted compare
- 76 Bahrain 2.97 US dollars, exchange rate converted compare
- 77 Cuba 2.86 US dollars, exchange rate converted compare
More economy & growth data for Cayman Islands
- 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)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 3.18 billion BoP, current US$ (2024)
- Gross value added at basic prices (GVA) 5.96 billion constant 2015 US$ (2024)
- Agriculture, forestry, and fishing, value added 29.29 million current LCU (2024)
- Inflation, consumer prices -0.6% (2016)
- Total reserves minus gold 252.10 million current US$ (2024)
- Total reserves 252.10 million includes gold, current US$ (2024)
- GDP deflator 123.6 base year varies by country (2024)
Frequently asked questions
- What is balanced trade in services in Cayman Islands?
- Balanced trade in services in Cayman Islands was 3.08 US dollars, exchange rate converted in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest balanced trade in services recorded in Cayman Islands?
- The highest recorded value was 3.08 US dollars, exchange rate converted in 2024.
- What is the lowest balanced trade in services recorded in Cayman Islands?
- The lowest recorded value was 1.27 US dollars, exchange rate converted in 2006.
- How does Cayman Islands rank for balanced trade in services?
- Cayman Islands ranks 74th out of 174 countries with data for 2024.
- Is balanced trade in services rising or falling in Cayman Islands?
- Over the last ten years it is up 83.2%. The long-run trend across the full record is rising.
- Where does this Cayman Islands data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Balanced trade in services (BaTIS). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 20 observations, free to reuse under OECD Terms and Conditions (attribution required).
About this data
The OECD-WTO Balanced Trade in Services (BaTIS) dataset is a complete, consistent, and balanced matrix of international trade in services statistics (ITSS). It contains annual bilateral data covering 202 reporters and partners, broken down by total services and 26 EBOPS 2010 (BPM6) categories from 2005 to 2024. BaTIS is the result of joint efforts by the OECD and WTO. Two main features enable BaTIS to stand out as the international benchmark for any analysis on international trade in services: BaTIS is complete and consistent. At present, only around 65% of world trade in services is bilaterally specified, and the percentage is even lower for the individual service categories. The OECD-WTO methodology leverages all available official statistics and combines them with estimations and adjustments to provide users with a complete matrix covering virtually all economies in the world. BaTIS is balanced. To resolve the asymmetries between reported and mirror flows, exports and imports are reconciled by calculating a symmetry-index weighted average between the two, following a similar approach to that developed for international merchandise trade statistics. Batis provides three measures for each trade flow (under the ‘adjustment’ dimension): Reported. Reflects the value officially reported by the country (where available), some values are rescaled to fit world totals. Adjusted and/or imputed. Reflects, in addition to the reported values, any adjustments made to ensure internal consistency as well as the estimations made by the OECD-WTO to fill in the gaps in the reported information. Balanced. Reflects the reconciled bilateral trade flow, where exports equal mirror imports. Official information on bilateral trade flows was collected from OECD, Eurostat, national sources as well as UNSD. The WTO-UNCTAD trade in services dataset, based on a number of primary sources complemented with estimations, was the main source for data with partner world. The BaTIS dataset can be used as a stand-alone input for economic analysis and policy-making. In addition, balanced trade in services data form an essential input to the OECD Trade in Value Added (TiVA) initiative, for which a balanced view of international trade is crucial. BaTIS is intended to be regularly updated and constantly improved as new data become available. For more information on the methodology, please refer to the technical paper accompanying this dataset The OECD-WTO Balanced Trade in Services (BaTIS) For more information on balanced trade statistics, please go to the topic related OECD page Balanced trade statistics Users are encouraged to send their questions, or to signal any apparent errors, regarding this database to STAT.Contact@oecd.org https://www.oecd.org/en/about/directorates/statistics-and-data-directorate.html