Services, value added in Cayman Islands
Cayman Islands: Services, value added was 4.57 billion constant LCU in 2024. ▲ Rising
Services, value added in Cayman Islands, 2006–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant LCU.
Analysis
In 2024, services, value added in Cayman Islands stood at 4.57 billion constant LCU. That is the highest value across all 19 years on record.
That represents a change of up 3.9% on the previous year and up 36.6% over ten years.
Over the whole period, services, value added in Cayman Islands peaked at 4.57 billion constant LCU in 2024 and was at its lowest, 3.15 billion constant LCU, in 2010.
That places Cayman Islands 172nd out of 199 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 19 years of available data.
Services, value added in Cayman Islands, year by year
| Year | constant LCU | Change |
|---|---|---|
| 2006 | 3.32 billion constant LCU | — |
| 2007 | 3.50 billion constant LCU | +5.3% |
| 2008 | 3.48 billion constant LCU | -0.5% |
| 2009 | 3.21 billion constant LCU | -7.7% |
| 2010 | 3.15 billion constant LCU | -2.1% |
| 2011 | 3.18 billion constant LCU | +1.1% |
| 2012 | 3.24 billion constant LCU | +1.8% |
| 2013 | 3.28 billion constant LCU | +1.3% |
| 2014 | 3.34 billion constant LCU | +2.0% |
| 2015 | 3.43 billion constant LCU | +2.6% |
| 2016 | 3.52 billion constant LCU | +2.7% |
| 2017 | 3.64 billion constant LCU | +3.3% |
| 2018 | 3.77 billion constant LCU | +3.5% |
| 2019 | 3.92 billion constant LCU | +4.0% |
| 2020 | 3.75 billion constant LCU | -4.4% |
| 2021 | 3.88 billion constant LCU | +3.6% |
| 2022 | 4.13 billion constant LCU | +6.5% |
| 2023 | 4.40 billion constant LCU | +6.4% |
| 2024 | 4.57 billion constant LCU | +3.9% |
Cayman Islands compared with similar countries
- Cayman Islands's 4.57 billion constant LCU is below the median for high income countries, which is 203.18 billion constant LCU, 2% of the median. (70 countries reporting)
- Cayman Islands's 4.57 billion constant LCU is below the median for Latin America & Caribbean, which is 71.16 billion constant LCU, 6% of the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.38 billion constant LCU | 3.21 billion constant LCU | 3.50 billion constant LCU | 4 |
| 2010s | 3.45 billion constant LCU | 3.15 billion constant LCU | 3.92 billion constant LCU | 10 |
| 2020s | 4.14 billion constant LCU | 3.75 billion constant LCU | 4.57 billion constant LCU | 5 |
Countries ranked near Cayman Islands
- 169 Bermuda 6.42 billion constant LCU compare
- 170 Solomon Islands 5.89 billion constant LCU compare
- 171 Monaco 5.01 billion constant LCU compare
- 173 Saint Lucia 4.47 billion constant LCU compare
- 174 Isle of Man 4.41 billion constant LCU compare
- 175 Aruba 4.33 billion constant LCU compare
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) 4.96 billion constant LCU (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 services, value added in Cayman Islands?
- Services, value added in Cayman Islands was 4.57 billion constant LCU in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Cayman Islands?
- The highest recorded value was 4.57 billion constant LCU in 2024.
- What is the lowest services, value added recorded in Cayman Islands?
- The lowest recorded value was 3.15 billion constant LCU in 2010.
- How does Cayman Islands rank for services, value added?
- Cayman Islands ranks 172nd out of 199 countries with data for 2024.
- Is services, value added rising or falling in Cayman Islands?
- Over the last ten years it is up 36.6%. The long-run trend across the full record is rising.
- Where does this Cayman Islands data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Services, value added (constant LCU). Statizoid updates them automatically from the source API.
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CSV · JSON — 19 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.