Cayman Islands GDP Growth
Annual percentage growth rate of GDP NY.GDP.MKTP.KD.ZG
Cayman Islands's gdp growth was 5.82% in 2023, ranked 28th globally. This represents a 0.7% increase from 2022. Data from World Bank, covering 2007–2023.
Overview
Cayman Islands's gdp growth stood at 5.82% in 2023, a rise of +0.04pp from 2022. Cayman Islands ranked 28th globally.
Cayman Islands’ real GDP expanded by 5.82 percent in 2023, the highest growth rate recorded in the 17‑year series and the 28th fastest among all economies, matching the all‑time peak for the country. The surge follows a deep contraction of –7.20 percent in 2009, when the global financial crisis sharply reduced tourism and financial‑services activity that dominate the islands’ economy. Since the trough, growth has recovered steadily, climbing from 3.16 percent in 2007 to the current level, a trajectory that mirrors the rapid expansion seen in peers such as Gambia (5.92 percent) and Bangladesh (5.78 percent) in the same year. The persistence of high‑value services, a robust offshore sector, and sustained inflows of foreign investment have underpinned the recent acceleration. If external shocks remain limited and the regulatory environment stays favorable, the Cayman Islands are likely to maintain growth rates near the 2023 peak, although a slowdown could arise from tighter global capital controls or a downturn in key tourism markets.
Data & projection
| Year | GDP Growth | YoY change | Rank |
|---|---|---|---|
| 2023 | 5.82% | +0.04pp | #28 |
| 2022 | 5.78% | +0.91pp | #63 |
| 2021 | 4.87% | +9.82pp | #114 |
| 2020 | -4.95% | −8.87pp | #121 |
| 2019 | 3.92% | −0.35pp | #75 |
| 2018 | 4.27% | +1.08pp | #67 |
| 2017 | 3.18% | −0.06pp | #113 |
| 2016 | 3.24% | +0.41pp | #102 |
| 2015 | 2.83% | +0.18pp | #106 |
| 2014 | 2.65% | +1.38pp | #119 |
| 2013 | 1.28% | +0.05pp | #153 |
| 2012 | 1.23% | +0.06pp | #142 |
| 2011 | 1.17% | +3.88pp | #163 |
| 2010 | -2.72% | +4.48pp | #201 |
| 2009 | -7.20% | −6.84pp | #192 |
Analysis
Cayman Islands's gdp growth was 5.82% in 2023, a rise of +0.04pp from 2022.
Frequently Asked Questions
Cayman Islands's gdp growth was 5.82% in 2023. Ranked 28th globally. This represents a 0.7% increase from the previous year.
Cayman Islands's gdp growth peaked at 5.82% in 2023.
The lowest gdp growth in Cayman Islands was -7.20% in 2009.
Cayman Islands ranks 28th globally in gdp growth as of 2023.
The World Bank indicator code is NY.GDP.MKTP.KD.ZG. Data sourced from World Bank.
The gdp growth of Cayman Islands in 2023 was 5.82%. This ranks 28th in the world.
Cite this page
@misc{historysaid_cayman-islands_gdp-growth,
title = {Cayman Islands GDP Growth},
url = {https://historysaid.com/cayman-islands/gdp-growth/},
publisher = {HistorySaid},
year = {2026}
}