Cayman Islands2020 Product Exports | Imports: $1.97B | $3.7B, 138 of 226 | 144 of 226
2020 Per Capita Product Exports | Imports: $30k | $56.3k, 46 of 219 | 4 of 219
2019 Service Exports | Imports : $3.77B | $1.41B, 74 of 108 | 87 of 108
Overview In 2020 Cayman Islands was the number 138 economy in the world in terms of total exports and the number 144 in total imports.
Exports The top exports of Cayman Islands are Recreational Boats ($1.82B), Gold ($48.7M), Refined Petroleum ($26.2M), Passenger and Cargo Ships ($23.2M), and Broadcasting Equipment ($8.73M), exporting mostly to Netherlands ($1.3B), Cyprus ($253M), Seychelles ($111M), Malta ($97.4M), and United Kingdom ($62.2M).
Imports The top imports of Cayman Islands are Recreational Boats ($2.73B), Passenger and Cargo Ships ($100M), Refined Petroleum ($85M), Gold ($59M), and Cars ($42.6M), importing mostly from Netherlands ($1.99B), United States ($572M), Italy ($355M), Germany ($266M), and Seychelles ($118M).
In 2020, Cayman Islands was the world's biggest importer of Recreational Boats ($2.73B)
Location Cayman Islands borders Brazil, Ecuador, Panama, Peru, and Venezuela by land and Colombia, Cuba, Honduras, and Jamaica by sea.
The following section uses the most recent trade data from partners of Cayman Islands.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Recreational Boats, $1.82B
Top Destination (2020): Netherlands, $1.99B
In 2020, Cayman Islands exported a total of $1.97B, making it the number 138 exporter in the world. During the last five reported years the exports of Cayman Islands have changed by $1.28B from $689M in 2015 to $1.97B in 2020.
The most recent exports are led by Recreational Boats ($1.82B), Gold ($48.7M), Refined Petroleum ($26.2M), Passenger and Cargo Ships ($23.2M), and Broadcasting Equipment ($8.73M). The most common destination for the exports of Cayman Islands are Netherlands ($1.3B), Cyprus ($253M), Seychelles ($111M), Malta ($97.4M), and United Kingdom ($62.2M).
Fastest Growing Export Markets (2019 - 2020)
Cayman Islands Exports Services (2019): $3.77B
Cayman Islands Imports Services (2019): $1.41B
In 2019, Cayman Islands exported $3.77B worth of services. The top services exported by Cayman Islands in 2019 were Financial services ($1.37B), Personal travel ($864M), Other business services ($773M), Insurance services ($562M), and Transportation ($111M).
The top services imported by Cayman Islands in 2019 were Other business services ($304M), Insurance services ($296M), Financial services ($232M), Personal travel ($218M), and Transportation ($185M).
Cayman Islands has a high level of specialization in Recreational Boats (815), Sculptures (12.2), Passenger and Cargo Ships (3.03), Paintings (2.14), and Raw Lead (1.36). Specialization is measured using RCA, an index that takes the ratio between Cayman Islands observed and expected exports in each product.
The highest complexity exports of Cayman Islands according to the product complexity index (PCI) are Paintings (0.65), Recreational Boats (0.11), Sculptures (-0.28), Passenger and Cargo Ships (-0.29), and Awnings, Tents, and Sails (-0.86). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Cayman Islands according to the relatedness index, are Collector's Items (0.013), Precious Metal Watches (0.013), Cocoa Beans (0.013), Hard Liquor (0.013), and Base Metal Watches (0.013). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Cayman Islands is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
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