ARCHIVE // KY // 2004

Cayman Islands

2004 Edition — territory

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Communications
Internet country code [time series]
.ky
Internet users [time series]
NA
Broadcast media (Radio broadcast stations) [time series]
AM 1, FM 5, shortwave 0 (1998)
Telecommunication systems (Telephone system) [time series]
general assessment: NA domestic: NA international: country code - 1-345; 1 submarine coaxial cable; satellite earth station - 1 Intelsat (Atlantic Ocean)
Telephones - fixed lines (Telephones - main lines in use) [time series]
38,000 (2002)
Telephones - mobile cellular [time series]
17,000 (2002)
Broadcast media (Television broadcast stations) [time series]
1 with cable system
Economy
Agricultural products (Agriculture - products) [time series]
vegetables, fruit; livestock, turtle farming
Budget [time series]
revenues: $265.2 million expenditures: $248.9 million, including capital expenditures of NA (1997)
Exchange rates (Currency) [time series]
Caymanian dollar (KYD)
Exchange rates (Currency code) [time series]
KYD
Debt - external [time series]
$70 million (1996)
Economic aid (Economic aid - recipient) [time series]
NA (1999)
Economic overview (Economy - overview) [time series]
With no direct taxation, the islands are a thriving offshore financial center. More than 40,000 companies were registered in the Cayman Islands as of 1998, including almost 600 banks and trust companies; banking assets exceed $500 billion. A stock exchange was opened in 1997. 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 1.2 million in 1997, with 600,000 from the US. 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 - consumption [time series]
355.2 million kWh (2001)
Electricity - exports [time series]
0 kWh (2001)
Electricity - imports [time series]
0 kWh (2001)
Electricity - production [time series]
381.9 million kWh (2001)
Exchange rates [time series]
Caymanian dollars per US dollar - 0.82 (29 October 2001), 0.83 (3 November 1995), 0.85 (22 November 1993)
Exports [time series]
$1.2 million (1999)
Exports - commodities [time series]
turtle products, manufactured consumer goods
Exports - partners [time series]
mostly US
Fiscal year [time series]
1 April - 31 March
Real GDP (purchasing power parity) (GDP) [time series]
purchasing power parity - $1.27 billion (2002 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 - $35,000 (2002 est.)
Real GDP growth rate (GDP - real growth rate) [time series]
1.7% (2002 est.)
Household income or consumption by percentage share [time series]
lowest 10%: NA highest 10%: NA
Imports [time series]
$457.4 million (1999)
Imports - commodities [time series]
foodstuffs, manufactured goods
Imports - partners [time series]
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) [time series]
2.8% (2002)
Labor force [time series]
19,820 (1995)
Labor force - by occupation [time series]
agriculture 1.4%, industry 12.6%, services 86% (1995)
Oil - consumption [time series]
2,400 bbl/day (2001 est.)
Oil - exports [time series]
NA (2001)
Oil - imports [time series]
NA (2001)
Oil - production [time series]
0 bbl/day (2001 est.)
Population below poverty line [time series]
NA (2002 est.)
Unemployment rate [time series]
4.1% (1997)
Geography
Area [time series]
total: 262 sq km land: 262 sq km water: 0 sq km
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 [time series]
no natural fresh water resources; drinking water supplies must be met by rainwater catchments
Geographic coordinates [time series]
19 30 N, 80 30 W
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: 3.85% permanent crops: 0% other: 96.15% (2001)
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]
territorial sea: 12 nm exclusive fishing zone: 200 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
Capital [time series]
George Town
Constitution [time series]
1959, revised 1972 and 1992
Country name [time series]
conventional long form: none conventional short form: Cayman Islands
Dependency status [time series]
overseas territory of the UK
Diplomatic representation from the US [time series]
none (overseas territory of the UK)
Diplomatic representation in the US [time series]
none (overseas territory of the UK)
Executive branch [time series]
chief of state: Queen ELIZABETH II (since 6 February 1952); Governor Bruce DINWIDDY (since 29 May 2002) head of government: Chief Secretary W. McKeeva BUSH (since NA December 2001) cabinet: Executive Council (three members appointed by the governor, four members elected by the Legislative Assembly) elections: none; the monarch is hereditary; the governor is appointed by the monarch; the chief secretary is appointed by the governor
Flag (Flag description) [time series]
blue, with the flag of the UK in the upper hoist-side quadrant and the Caymanian coat of arms 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]
British crown colony
Independence [time series]
none (overseas territory of the UK)
International organization participation [time series]
Caricom (associate), CDB, Interpol (subbureau), IOC, UNESCO (associate), UPU
Judicial branch [time series]
Summary Court; 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, three appointed members from the Executive Council and 15 elected by popular vote; members serve four-year terms) elections: last held 8 November 2000 (next to be held 17 November 2004) election results: percent of vote - NA; seats - NA
National holiday [time series]
Constitution Day, first Monday in July
Political parties (Political parties and leaders) [time series]
no national teams (loose groupings of political organizations) were formed for the 2000 elections; United Democratic Party or UDP [leader McKeeva BUSH]; People's Progressive Movement or PPM [leader Kurt TIBBETTS]
Political parties (Political pressure groups and leaders) [time series]
NA
Suffrage [time series]
18 years of age; universal
Introduction
Background [time series]
The Cayman Islands were colonized from Jamaica by the British during the 18th and 19th centuries. Administered by Jamaica since 1863, they remained a British dependency after 1962 when the former became independent.
Military
Military - note [time series]
defense is the responsibility of the UK
Military and security forces (Military branches) [time series]
no regular military forces; Royal Cayman Islands Police Force
People
Age structure [time series]
0-14 years: 21.4% (male 4,608; female 4,616) 15-64 years: 70.6% (male 14,858; female 15,593) 65 years and over: 8% (male 1,607; female 1,821) (2004 est.)
Birth rate [time series]
13.11 births/1,000 population (2004 est.)
Death rate [time series]
4.76 deaths/1,000 population (2004 est.)
Ethnic groups [time series]
mixed 40%, white 20%, black 20%, expatriates of various ethnic groups 20%
HIV/AIDS - adult prevalence rate [time series]
NA
HIV/AIDS - deaths [time series]
NA
HIV/AIDS - people living with HIV/AIDS [time series]
NA
Infant mortality rate [time series]
total: 8.41 deaths/1,000 live births male: 9.64 deaths/1,000 live births female: 7.16 deaths/1,000 live births (2004 est.)
Languages [time series]
English
Life expectancy at birth [time series]
total population: 79.81 years male: 77.21 years female: 82.45 years (2004 est.)
Literacy [time series]
definition: age 15 and over has ever attended school total population: 98% male: 98% female: 98% (1970 est.)
Median age [time series]
total: 36.5 years male: 36.2 years female: 36.8 years (2004 est.)
Nationality [time series]
noun: Caymanian(s) adjective: Caymanian
Net migration rate [time series]
18.75 migrant(s)/1,000 population note: major destination for Cubans trying to migrate to the US (2004 est.)
Population [time series]
43,103 (July 2004 est.)
Population growth rate [time series]
2.71% (2004 est.)
Religions [time series]
United Church (Presbyterian and Congregational), Anglican, Baptist, Church of God, other Protestant, Roman Catholic
Sex ratio [time series]
at birth: 1.02 male(s)/female under 15 years: 1 male(s)/female 15-64 years: 0.95 male(s)/female 65 years and over: 0.88 male(s)/female total population: 0.96 male(s)/female (2004 est.)
Total fertility rate [time series]
1.9 children born/woman (2004 est.)
Transnational Issues
Disputes - international [time series]
none
Illicit drugs [time series]
offshore financial center; vulnerable to drug transshipment to the US and Europe
Transportation
Airports [time series]
3 (2003 est.)
Airports - with paved runways [time series]
total: 2 1,524 to 2,437 m: 2 (2004 est.)
Airports - with unpaved runways [time series]
total: 1 914 to 1,523 m: 1 (2004 est.)
Roadways (Highways) [time series]
total: 785 km paved: 785 km (2000)
Merchant marine [time series]
total: 137 ships (1,000 GRT or over) 2,827,837 GRT/4,555,974 DWT by type: bulk 27, cargo 7, chemical tanker 36, container 2, liquefied gas 1, petroleum tanker 25, refrigerated cargo 33, roll on/roll off 4, short-sea/passenger 1, specialized tanker 1 foreign-owned: Germany 9, Greece 25, Hong Kong 3, Italy 14, Norway 4, Singapore 1, Spain 11, Sweden 13, Switzerland 1, United Kingdom 18, United States 43 registered in other countries: 2 (2004 est.)
Ports (Ports and harbors) [time series]
Cayman Brac, George Town