ARCHIVE // KY // 1998

Cayman Islands

1998 Edition — territory

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Economy
Agricultural products (Agriculture-products) [time series]
vegetables, fruit; livestock; turtle farming
Budget [time series]
revenues: $141.5 million expenditures: $160.7 million, including capital expenditures of $NA (1991)
Exchange rates (Currency) [time series]
1 Caymanian dollar (CI$) = 100 cents
Debt - external (Debt-external) [time series]
$NA
Economic aid [time series]
recipient: ODA, $NA
Economic overview (Economy-overview) [time series]
With no direct taxation, the Islands are a thriving offshore financial center; 28,000 foreign companies do business with the 600 registered banks and trust companies; banking assets exceed $500 billion. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 1 million visitors in 1995 and again in 1996. About 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world.
Electricity - capacity (Electricity-capacity) [time series]
75,000 kW (1995)
Electricity - consumption per capita (Electricity-consumption per capita) [time series]
6,929 kWh (1995)
Electricity - production (Electricity-production) [time series]
230 million kWh (1995)
Exchange rates [time series]
Caymanian dollars (CI$) per US$1-0.83 (3 November 1995), 0.85 (22 November 1993)
Exports [time series]
total value: $3.4 million (f.o.b., 1995 est.) commodities: turtle products, manufactured consumer goods partners: mostly US
Fiscal year [time series]
1 April-31 March Communications
Real GDP (purchasing power parity) (GDP) [time series]
purchasing power parity-$860 million (1996 est.)
GDP - composition, by sector of origin (GDP-composition by sector) [time series]
agriculture: 1.4% industry: 3.2% services: 95.4% (1994 est.)
Real GDP per capita (GDP-per capita) [time series]
purchasing power parity-$23,800 (1996 est.)
Real GDP growth rate (GDP-real growth rate) [time series]
4.5% (1996 est.)
Imports [time series]
total value: $333 million (c.i.f., 1995 est.) commodities: foodstuffs, manufactured goods partners: US, Trinidad and Tobago, UK, Netherlands Antilles, Japan
Industrial production growth rate [time series]
NA%
Industries [time series]
tourism, banking, insurance and finance, construction, construction materials, furniture
Inflation rate (consumer prices) (Inflation rate-consumer price index) [time series]
2.1% (1996 est.)
Labor force [time series]
total: 8,061 by occupation: service workers 18.7%, clerical 18.6%, construction 12.5%, finance and investment 6.7%, directors and business managers 5.9% (1979)
Broadcast media (Radio broadcast stations) [time series]
AM 2, FM 1, shortwave 0
Radios [time series]
28,200 (1992 est.)
Telecommunication systems (Telephone system) [time series]
domestic: NA international: 1 submarine coaxial cable; satellite earth station-1 Intelsat (Atlantic Ocean)
Telephones - fixed lines (Telephones) [time series]
21,584 (1993 est.)
Broadcast media (Television broadcast stations) [time series]
1 (1995)
Televisions [time series]
6,000 (1992 est.)
Unemployment rate [time series]
7% (1992)
Geography
Area [time series]
total: 260 sq km land: 260 sq km water: 0 sq km
Area - comparative (Area-comparative) [time series]
1.5 times the size of Washington, DC
Climate [time series]
tropical marine; warm, rainy summers (May to October) and cool, relatively dry winters (November to April)
Coastline [time series]
160 km
Elevation (Elevation extremes) [time series]
lowest point: Caribbean Sea 0 m highest point: The Bluff 43 m
Environment - current issues (Environment-current issues) [time series]
no natural fresh water resources, drinking water supplies must be met by rainwater catchment
International environmental agreements (Environment-international agreements) [time series]
party to: NA signed, but not ratified: NA
Geographic coordinates [time series]
19 30 N, 80 30 W
Geography - note (Geography-note) [time series]
important location between Cuba and Central America
Irrigated land [time series]
NA sq km
Land boundaries [time series]
0 km
Land use [time series]
arable land: 0% permanent crops: 0% permanent pastures: 8% forests and woodland: 23% other: 69% (1993 est.)
Location [time series]
Caribbean, island group in Caribbean Sea, nearly one-half of the way from Cuba to Honduras
Map references [time series]
Central America and the Caribbean
Maritime claims [time series]
exclusive fishing zone: 200 nm territorial sea: 12 nm
Natural hazards [time series]
hurricanes (July to November)
Natural resources [time series]
fish, climate and beaches that foster tourism
Terrain [time series]
low-lying limestone base surrounded by coral reefs
Government
Administrative divisions [time series]
8 districts; Creek, Eastern, Midland, South Town, Spot Bay, Stake Bay, West End, Western
Constitution [time series]
1959, revised 1972 and 1992
Country name [time series]
conventional long form: none conventional short form: Cayman Islands
Data code [time series]
CJ
Dependency status [time series]
dependent territory of the UK
Diplomatic representation from the US [time series]
none (dependent territory of the UK)
Diplomatic representation in the US [time series]
none (dependent territory of the UK)
Executive branch [time series]
chief of state: Queen ELIZABETH II of the UK (since 6 February 1952) head of government: Governor and President of the Executive Council John Wynne OWEN (since 15 September 1995) cabinet: Executive Council (three members appointed by the governor, four members elected by the Legislative Assembly) elections: none; the queen is a hereditary monarch; the governor is appointed by the queen
Flag (Flag description) [time series]
blue, with the flag of the UK in the upper hoist-side quadrant and the Caymanian coat of arms on a white disk centered on the outer half of the flag; the coat of arms includes a pineapple and turtle above a shield with three stars (representing the three islands) and a scroll at the bottom bearing the motto HE HATH FOUNDED IT UPON THE SEAS
Government type [time series]
NA
Independence [time series]
none (dependent territory of the UK)
International organization participation [time series]
Caricom (observer), CDB, Interpol (subbureau), IOC
Judicial branch [time series]
Grand Court; Cayman Islands Court of Appeal
Legal system [time series]
British common law and local statutes
Legislative branch [time series]
unicameral Legislative Assembly (18 seats, 3 official members and 15 elected by popular vote; members serve four-year terms) elections: last held 20 November 1996 (next to be held NA November 2000) election results: percent of vote-NA; seats-National Team coalition 9, independents 6
Capital (National capital) [time series]
George Town
National holiday [time series]
Constitution Day (first Monday in July)
Political parties (Political parties and leaders) [time series]
no formal political parties
Suffrage [time series]
18 years of age; universal
Military
Military and security forces (Military branches) [time series]
Royal Cayman Islands Police Force (RCIPF)
Military - note (Military-note) [time series]
defense is the responsibility of the UK
People
Age structure [time series]
0-14 years: NA 15-64 years: NA 65 years and over: NA
Birth rate [time series]
13.95 births/1,000 population (1998 est.)
Death rate [time series]
4.98 deaths/1,000 population (1998 est.)
Ethnic groups [time series]
mixed 40%, white 20%, black 20%, expatriates of various ethnic groups 20%
Infant mortality rate [time series]
8.4 deaths/1,000 live births (1998 est.)
Languages [time series]
English
Life expectancy at birth [time series]
total population: 77.1 years male: 75.37 years female: 78.81 years (1998 est.)
Literacy [time series]
definition: age 15 and over has ever attended school total population: 98% male: 98% female: 98% (1970 est.)
Nationality [time series]
noun: Caymanian(s) adjective: Caymanian
Net migration rate [time series]
33.2 migrant(s)/1,000 population (1998 est.) note: major destination for Cubans trying to migrate to the US
Population [time series]
37,716 (July 1998 est.)
Population growth rate [time series]
4.22% (1998 est.)
Religions [time series]
United Church (Presbyterian and Congregational), Anglican, Baptist, Roman Catholic, Church of God, other Protestant denominations
Total fertility rate [time series]
1.34 children born/woman (1998 est.)
Transnational Issues
Current issues [time series]
In 1996, the Central African Republic experienced three mutinies by dissident elements of the armed forces, which demanded back pay as well as political and military reforms. Continuing violence in 1997 between the government and rebel military groups over pay issues, living conditions, and lack of opposition party representation in the government has destroyed many businesses in the capital, reducing tax revenues and exacerbating the government's problems in meeting expenses.
Disputes - international (Disputes-international) [time series]
none
Illicit drugs [time series]
vulnerable to drug money-laundering and drug transshipment CENTRAL AFRICAN REPUBLIC Introduction
Transportation
Airports [time series]
3 (1997 est.)
Airports - with paved runways (Airports-with paved runways) [time series]
total: 2 1,524 to 2,437 m: 2 (1997 est.)
Airports - with unpaved runways (Airports-with unpaved runways) [time series]
total: 1 914 to 1,523 m: 1 (1997 est.)
Roadways (Highways) [time series]
total: 406 km paved: 304 km unpaved: 102 km
Merchant marine [time series]
total: 54 ships (1,000 GRT or over) totaling 751,113 GRT/1,139,958 DWT ships by type: bulk 4, cargo 8, chemical tanker 4, container 5, oil tanker 6, refrigerated cargo 18, roll-on/roll-off cargo 7, specialized tanker 1, vehicle carrier 1 note: a flag of convenience registry; includes ships from 10 countries: Greece 11, US 8, UK 5, Cyprus 1, Finland 1, India 1, Japan 1, Norway 1, Sweden 1, and Switzerland 1 (1997 est.)
Ports (Ports and harbors) [time series]
Cayman Brac, George Town
Railways [time series]
0 km