Services, value added (% of GDP) in Cayman Islands
Cayman Islands: Services, value added (% of GDP) was 86.5% in 2024. ▬ Flat
Services, value added in Cayman Islands, 2006–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
Cayman Islands recorded 86.5% for services, value added in 2024.
Compared with earlier readings it is up 0.2% on the previous year and down 0.9% over ten years.
Over the whole period, services, value added in Cayman Islands peaked at 87.6% in 2010 and was at its lowest, 83.5%, in 2006.
That places Cayman Islands 8th out of 206 countries with data for 2024, putting it in the top 10%.
Services, value added (% of GDP) in Cayman Islands, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2006 | 83.5% | — |
| 2007 | 84.4% | +1.1% |
| 2008 | 85.0% | +0.7% |
| 2009 | 86.9% | +2.2% |
| 2010 | 87.6% | +0.8% |
| 2011 | 87.3% | -0.3% |
| 2012 | 87.2% | -0.1% |
| 2013 | 87.2% | +0.0% |
| 2014 | 87.3% | +0.1% |
| 2015 | 87.4% | +0.1% |
| 2016 | 86.9% | -0.7% |
| 2017 | 87.1% | +0.3% |
| 2018 | 86.1% | -1.1% |
| 2019 | 86.2% | +0.1% |
| 2020 | 86.8% | +0.7% |
| 2021 | 85.2% | -1.8% |
| 2022 | 85.8% | +0.7% |
| 2023 | 86.4% | +0.7% |
| 2024 | 86.5% | +0.2% |
Cayman Islands compared with similar countries
- Cayman Islands's 86.5% is above the median for high income countries, which is 66.2%, 1.3× the median. (77 countries reporting)
- Cayman Islands's 86.5% is above the median for Latin America & Caribbean, which is 59.8%, 1.4× the median. (39 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 85.0% | 83.5% | 86.9% | 4 |
| 2010s | 87.0% | 86.1% | 87.6% | 10 |
| 2020s | 86.1% | 85.2% | 86.8% | 5 |
Countries ranked near Cayman Islands
- 5 Channel Islands 91.2% compare
- 6 Sint Maarten (Dutch part) 89.3% compare
- 7 Monaco 87.2% compare
- 9 Luxembourg 81.4% compare
- 10 Sao Tome and Principe 81.4% compare
- 11 Malta 81.3% 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)
- Foreign direct investment, net inflows 40.9% (2024)
- Inflation, consumer prices -0.6% (2016)
- Total reserves minus gold 270.42 million current US$ (2025)
- Total reserves 270.42 million includes gold, current US$ (2025)
- GDP deflator 123.6 base year varies by country (2024)
- Personal remittances, received 11.50 million current US$ (2024)
Frequently asked questions
- What is services, value added in Cayman Islands?
- Services, value added in Cayman Islands was 86.5% 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 87.6% in 2010.
- What is the lowest services, value added recorded in Cayman Islands?
- The lowest recorded value was 83.5% in 2006.
- How does Cayman Islands rank for services, value added?
- Cayman Islands ranks 8th out of 206 countries with data for 2024.
- Is services, value added rising or falling in Cayman Islands?
- Over the last ten years it is down 0.9%. The long-run trend across the full record is flat.
- 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 (% of GDP). Statizoid updates them automatically from the source API.
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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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.