GDP growth in Cayman Islands
Cayman Islands: GDP growth was 3.8% in 2024. ◆ Volatile
GDP growth in Cayman Islands, 2007–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in annual %.
Analysis
Cayman Islands recorded 3.8% for gdp growth in 2024.
Compared with earlier readings it is down 35.3% on the previous year and up 41.5% over ten years.
Over the whole period, gdp growth in Cayman Islands peaked at 5.8% in 2023 and was at its lowest, -7.2%, in 2009.
That places Cayman Islands 88th out of 213 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
GDP growth in Cayman Islands, year by year
| Year | annual % | Change |
|---|---|---|
| 2007 | 3.2% | — |
| 2008 | -0.4% | -111.3% |
| 2009 | -7.2% | +1914.7% |
| 2010 | -2.7% | -62.3% |
| 2011 | 1.2% | -143.0% |
| 2012 | 1.2% | +5.2% |
| 2013 | 1.3% | +4.0% |
| 2014 | 2.7% | +107.5% |
| 2015 | 2.8% | +6.7% |
| 2016 | 3.2% | +14.4% |
| 2017 | 3.2% | -1.7% |
| 2018 | 4.3% | +34.0% |
| 2019 | 3.9% | -8.2% |
| 2020 | -5.0% | -226.5% |
| 2021 | 4.9% | -198.3% |
| 2022 | 5.7% | +16.3% |
| 2023 | 5.8% | +2.5% |
| 2024 | 3.8% | -35.3% |
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 | 3.0% | -5.0% | 5.8% | 5 |
Countries ranked near Cayman Islands
More economy & growth data for Cayman Islands
- Net primary income (Net income from abroad) (current US$), annual 18.32 % change on previous year (2024)
- Taxes less subsidies on products (current LCU), annual growth rate 1.4 % change on previous year (2024)
- Taxes less subsidies on products (current US$), per capita 5,593 current US$ per person (2024)
- Taxes less subsidies on products (current US$), per unit of GDP 0.0536 current US$ per US$ of GDP (2024)
- Taxes less subsidies on products (current US$), annual growth rate 1.4 % change on previous year (2024)
- Net primary income (Net income from abroad) (current LCU), annual 18.32 % change on previous year (2024)
- GNI (current LCU), per unit of GDP 0.6731 current LCU per US$ of GDP (2024)
- GNI (current US$), per capita 84,238 current US$ per person (2024)
- GNI (current LCU), annual growth rate 14.45 % change on previous year (2024)
- Manufacturing value added to gdp, per capita 0 units per person (2024)
Frequently asked questions
- What is gdp growth in Cayman Islands?
- Gdp growth in Cayman Islands was 3.8% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gdp growth recorded in Cayman Islands?
- The highest recorded value was 5.8% in 2023.
- What is the lowest gdp growth recorded in Cayman Islands?
- The lowest recorded value was -7.2% in 2009.
- How does Cayman Islands rank for gdp growth?
- Cayman Islands ranks 88th out of 213 countries with data for 2024.
- Is gdp growth rising or falling in Cayman Islands?
- Over the last ten years it is up 41.5%. The long-run trend across the full record is volatile.
- Where does this Cayman Islands data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of GDP growth (annual %). Statizoid updates them automatically from the source API.
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About this data
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.