Trade in services (% of GDP) in Cayman Islands
Cayman Islands: Trade in services (% of GDP) was 87.1% in 2024. ▬ Flat
Trade in services in Cayman Islands, 2016–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Cayman Islands recorded 87.1% for trade in services in 2024.
That represents a change of up 0.3% on the previous year and up 2.4% over ten years.
Over the whole period, trade in services in Cayman Islands peaked at 91.1% in 2018 and was at its lowest, 80.3%, in 2021.
That places Cayman Islands 14th out of 200 countries with data for 2024, putting it in the top 10%.
Trade in services (% of GDP) in Cayman Islands, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2016 | 85.0% | — |
| 2017 | 91.0% | +7.1% |
| 2018 | 91.1% | +0.1% |
| 2019 | 87.2% | -4.3% |
| 2020 | 81.6% | -6.4% |
| 2021 | 80.3% | -1.6% |
| 2022 | 86.7% | +8.0% |
| 2023 | 86.9% | +0.2% |
| 2024 | 87.1% | +0.3% |
Cayman Islands compared with similar countries
- Cayman Islands's 87.1% is above the median for high income countries, which is 32.3%, 2.7× the median. (72 countries reporting)
- Cayman Islands's 87.1% is above the median for Latin America & Caribbean, which is 27.7%, 3.1× the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 88.6% | 85.0% | 91.1% | 4 |
| 2020s | 84.5% | 80.3% | 87.1% | 5 |
Countries ranked near Cayman Islands
More economy & growth data for Cayman Islands
- Foreign direct investment, net inflows (BoP, current US$), annual -73.72 % change on previous year (2024)
- Foreign direct investment, net outflows (BoP, current US$), gaps -1.74 billion BoP, current US$ (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 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)
- Industry (including construction), value added 593.36 million current US$ (2024)
- Agriculture, forestry, and fishing, value added 16.2% (2024)
- Agriculture, forestry, and fishing, value added 19.77 million constant LCU (2024)
- Manufacturing, value added 56.01 million current LCU (2024)
- Manufacturing, value added 44.64 million constant 2015 US$ (2024)
Frequently asked questions
- What is trade in services in Cayman Islands?
- Trade in services in Cayman Islands was 87.1% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Cayman Islands?
- The highest recorded value was 91.1% in 2018.
- What is the lowest trade in services recorded in Cayman Islands?
- The lowest recorded value was 80.3% in 2021.
- How does Cayman Islands rank for trade in services?
- Cayman Islands ranks 14th out of 200 countries with data for 2024.
- Is trade in services rising or falling in Cayman Islands?
- Over the last ten years it is up 2.4%. The long-run trend across the full record is flat.
- Where does this Cayman Islands data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Trade in services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. 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.