[ Nominal GDP in billions of USD ]
Year -
$7.24 billions
Cayman Islands GDP expanded from 2006 to 2023, increasing from $4.20 billion to $7.24 billion.The compound annual growth rate (CAGR) averaged 3.26% over the period. The economy recorded its peak level in 2023 and its lowest level in 2010. Growth volatility remained moderate. The maximum drawdown reached 9.37%, indicating the largest cyclical decline from peak levels. The country experienced 2 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2023 | 2023 |
| Latest GDP | $ 7.24 Billions | $ 6.46 Int Billions |
| Growth (YoY) | 8.725% | 9.623% |
| Net Change vs Previous Year | $ 0.58 Billion | $ 0.57 Int Billion |
| % of World GDP | 0.01% | 0.00% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - |
| 1966 | - | - | - | - | - | - |
| 1967 | - | - | - | - | - | - |
| 1968 | - | - | - | - | - | - |
| 1969 | - | - | - | - | - | - |
| 1970 | - | - | - | - | - | - |
| 1971 | - | - | - | - | - | - |
| 1972 | - | - | - | - | - | - |
| 1973 | - | - | - | - | - | - |
| 1974 | - | - | - | - | - | - |
| 1975 | - | - | - | - | - | - |
| 1976 | - | - | - | - | - | - |
| 1977 | - | - | - | - | - | - |
| 1978 | - | - | - | - | - | - |
| 1979 | - | - | - | - | - | - |
| 1980 | - | - | - | - | - | - |
| 1981 | - | - | - | - | - | - |
| 1982 | - | - | - | - | - | - |
| 1983 | - | - | - | - | - | - |
| 1984 | - | - | - | - | - | - |
| 1985 | - | - | - | - | - | - |
| 1986 | - | - | - | - | - | - |
| 1987 | - | - | - | - | - | - |
| 1988 | - | - | - | - | - | - |
| 1989 | - | - | - | - | - | - |
| 1990 | - | - | - | - | - | - |
| 1991 | - | - | - | - | - | - |
| 1992 | - | - | - | - | - | - |
| 1993 | - | - | - | - | - | - |
| 1994 | - | - | - | - | - | - |
| 1995 | - | - | - | - | - | - |
| 1996 | - | - | - | - | - | - |
| 1997 | - | - | - | - | - | - |
| 1998 | - | - | - | - | - | - |
| 1999 | - | - | - | - | - | - |
| 2000 | - | - | - | - | - | - |
| 2001 | - | - | - | - | - | - |
| 2002 | - | - | - | - | - | - |
| 2003 | - | - | - | - | - | - |
| 2004 | - | - | - | - | - | - |
| 2005 | - | - | - | - | - | - |
| 2006 | 4.2 | - | - | 3.63 | - | - |
| 2007 | 4.47 | 0.27 | 6.333 % | 3.84 | 0.22 | 5.958 % |
| 2008 | 4.59 | 0.12 | 2.679 % | 3.9 | 0.06 | 1.562 % |
| 2009 | 4.28 | -0.3 | -6.634 % | 3.64 | -0.26 | -6.628 % |
| 2010 | 4.16 | -0.12 | -2.916 % | 3.59 | -0.06 | -1.533 % |
| 2011 | 4.19 | 0.03 | 0.703 % | 3.7 | 0.12 | 3.256 % |
| 2012 | 4.29 | 0.1 | 2.507 % | 3.7 | -0.01 | -0.183 % |
| 2013 | 4.41 | 0.11 | 2.675 % | 3.73 | 0.04 | 0.948 % |
| 2014 | 4.56 | 0.16 | 3.565 % | 3.82 | 0.09 | 2.424 % |
| 2015 | 4.71 | 0.15 | 3.185 % | 3.95 | 0.12 | 3.187 % |
| 2016 | 4.91 | 0.2 | 4.272 % | 4.14 | 0.2 | 5.037 % |
| 2017 | 5.17 | 0.26 | 5.234 % | 4.39 | 0.25 | 5.914 % |
| 2018 | 5.53 | 0.36 | 7.044 % | 4.74 | 0.35 | 7.878 % |
| 2019 | 5.94 | 0.41 | 7.445 % | 4.89 | 0.16 | 3.361 % |
| 2020 | 5.66 | -0.29 | -4.822 % | 4.54 | -0.35 | -7.216 % |
| 2021 | 6.06 | 0.41 | 7.169 % | 5.2 | 0.66 | 14.488 % |
| 2022 | 6.66 | 0.6 | 9.889 % | 5.89 | 0.69 | 13.317 % |
| 2023 | 7.24 | 0.58 | 8.725 % | 6.46 | 0.57 | 9.623 % |
| 2024 | - | - | - | - | - | - |
Between 2006 to 2023, Cayman Islands experienced the following economic phases:
The most remarkable growth occurred in 2022 with an increase of 9.889%, while the largest decline was in 2009 at -6.634%.