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Red
Sea Management provides Cayman Islands offshore incorporation, Cayman
Islands offshore asset protection and a full range of services. |
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Report on the Cayman Islands
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| Background:
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The Cayman Islands were colonized from Jamaica by the British during
the 18th and 19th centuries. Administered by Jamaica from 1863, they
remained a British dependency after 1962 when the former became
independent. |
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| Location:
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Caribbean, island group in Caribbean Sea, nearly one-half of the way
from Cuba to Honduras
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Geographic coordinates:
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19 30 N, 80 30 W
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| Map
references:
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Central America and the Caribbean
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| Area: |
total: 259 sq km
land: 259 sq km
water: 0 sq km
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| Area -
comparative:
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1.5 times the size of Washington, DC
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| Land
boundaries: |
0 km
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Coastline:
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160 km
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| Maritime
claims:
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exclusive fishing zone: 200 NM
territorial sea: 12 NM
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| Climate:
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tropical marine; warm, rainy summers (May to October) and cool,
relatively dry winters (November to April)
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| Terrain:
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low-lying limestone base surrounded by coral reefs
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| Elevation
extremes:
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lowest point: Caribbean Sea 0 m
highest point: The Bluff 43 m
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| Natural
resources:
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fish, climate and beaches that foster tourism
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| Land use:
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arable land: 0%
permanent crops: 0%
permanent pastures: 8%
forests and woodland: 23%
other: 69% (1993 est.)
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| Irrigated
land:
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NA sq km
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| Natural
hazards:
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hurricanes (July to November)
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Environment - current issues:
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no natural fresh water resources; drinking water supplies must be met
by rainwater catchments |
| Geography
- note:
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important location between Cuba and Central America
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Population: |
35,527 (July 2001 est.)
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| Age
structure: |
0-14 years: 22.21% (male 3,807; female 4,084)
15-64 years: 69.74% (male 12,102; female 12,676)
65 years and over: 8.05% (male 1,318; female 1,540) (2001 est.)
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Population growth rate:
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2.12% (2001 est.)
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| Birth
rate: |
13.79 births/1,000 population (2001 est.)
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| Death
rate: |
5.15 deaths/1,000 population (2001 est.)
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| Net
migration rate: |
12.58 migrant(s)/1,000 population (2001 est.)
note: major destination for Cubans trying to migrate to the US
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| Sex
ratio: |
at birth: 0.86 male(s)/female
under 15 years: 0.93 male(s)/female
15-64 years: 0.95 male(s)/female
65 years and over: 0.86 male(s)/female
total population: 0.94 male(s)/female (2001 est.)
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| Infant
mortality rate: |
10.16 deaths/1,000 live births (2001 est.)
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| Life
expectancy at birth: |
total population: 79.03 years
male: 76.24 years
female: 81.43 years (2001 est.)
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| Total
fertility rate: |
2.04 children born/woman (2001 est.)
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| HIV/AIDS
- adult prevalence rate: |
NA% |
| HIV/AIDS
- people living with HIV/AIDS: |
NA |
| HIV/AIDS
- deaths:
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NA |
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Nationality: |
noun: Caymanian(s)
adjective: Caymanian
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| Ethnic
groups:
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mixed 40%, white 20%, black 20%, expatriates of various ethnic groups
20%
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Religions:
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United Church (Presbyterian and Congregational), Anglican, Baptist,
Roman Catholic, Church of God, other Protestant
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Languages: |
English
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| Literacy: |
definition: age 15 and over has ever attended school
total population: 98%
male: 98%
female: 98% (1970 est.)
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| Country
name:
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conventional long form: none
conventional short form: Cayman Islands
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Dependency status: |
overseas territory of the UK
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Government type:
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British crown colony
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| Capital: |
George Town
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Administrative divisions:
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8 districts; Creek, Eastern, Midland, South Town, Spot Bay, Stake Bay,
West End, Western
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Independence: |
none (overseas territory of the UK)
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| National
holiday: |
Constitution Day, first Monday in July
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Constitution:
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1959, revised 1972 and 1992
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| Legal
system: |
British common law and local statutes
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| Suffrage:
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18 years of age; universal
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Executive branch:
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chief of state: Queen ELIZABETH II (since 6 February 1952); Governor
and President of the Executive Council Peter SMITH (since 5 May 1999)
head of government: Kurt TIBBETTS (since November 2000)
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
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Legislative branch: |
unicameral Legislative Assembly (18 seats, three appointed members and
15 elected by popular vote; members serve four-year terms)
elections: last held 8 November 2000 (next to be held NA November
2004)
election results: percent of vote - NA%; seats - NA
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| Judicial
branch:
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Summary Court; Grand Court; Cayman Islands Court of Appeal
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| Political
parties and leaders: |
there are no formal political parties but the following loose
groupings act as political organizations; National Team; Democratic
Alliance; Team Cayman
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| Political
pressure groups and leaders: |
NA
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International organization participation: |
Caricom (observer), CDB, Interpol (subbureau), IOC, UNESCO (associate)
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Diplomatic representation in the US: |
none (overseas territory of the UK)
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Diplomatic representation from the US: |
none (overseas territory of the UK)
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| Flag
description: |
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
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| Economy
- overview:
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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 1997, 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 visitors in 1997. 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.
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| GDP:
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purchasing power parity - $930 million (1997 est.)
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| GDP -
real growth rate: |
4.9% (1999 est.)
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| GDP - per
capita: |
purchasing power parity - $24,500 (1997 est.)
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| GDP -
composition by sector: |
agriculture: 1.4%
industry: 3.2%
services: 95.4% (1994 est.)
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Population below poverty line: |
NA%
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| Household
income or consumption by percentage share: |
lowest 10%: NA%
highest 10%: NA%
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| Inflation
rate (consumer prices): |
3% (1998)
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| Labor
force: |
19,820 (1995)
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| Labor
force - by occupation:
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agriculture 1.4%, industry 12.6%, services 86% (1995)
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Unemployment rate: |
4.1% (1997)
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| Budget:
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revenues: $265.2 million
expenditures: $248.9 million, including capital expenditures of $NA
(1997)
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Industries: |
tourism, banking, insurance and finance, construction, construction
materials, furniture |
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Industrial production growth rate:
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NA% |
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Electricity - production: |
330 million kWh (1999)
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Electricity - production by source:
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fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1999)
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Electricity - consumption:
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306.9 million kWh (1999)
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Electricity - exports: |
0 kWh (1999)
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Electricity - imports: |
0 kWh (1999)
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Agriculture - products:
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vegetables, fruit; livestock, turtle farming
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| Exports: |
$1.5 million (1998)
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| Exports -
commodities: |
turtle products, manufactured consumer goods
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| Exports -
partners: |
mostly US
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| Imports: |
$507.6 million (1998)
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| Imports -
commodities: |
foodstuffs, manufactured goods
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| Imports -
partners: |
US, Trinidad and Tobago, UK, Netherlands Antilles, Japan
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| Debt -
external: |
$70 million (1996)
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| Economic
aid - recipient: |
$NA
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| Currency:
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Caymanian dollar (KYD)
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| Currency
code: |
KYD
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| Exchange
rates:
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Caymanian dollars per US dollar - 0.83 (3 November 1995), 0.85 (22
November 1993)
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| Fiscal
year: |
1 April - 31 March
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Telephones - main lines in use:
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19,000 (1995)
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Telephones - mobile cellular: |
2,534 (1995)
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Telephone system: |
general assessment: NA
domestic: NA
international: 1 submarine coaxial cable; satellite earth station - 1
Intelsat (Atlantic Ocean)
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| Radio
broadcast stations: |
AM 1, FM 5, shortwave 0 (1998)
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| Radios: |
36,000 (1997)
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Television broadcast stations: |
NA
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Televisions: |
7,000 (1997)
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| Internet
country code: |
.ky
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| Internet
Service Providers (ISPs): |
16 (2000)
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| Internet
users: |
NA
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| Railways:
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0 km
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| Highways: |
total: 406 km
paved: 304 km
unpaved: 102 km
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Waterways: |
none
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| Ports and
harbors: |
Cayman Brac, George Town
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| Merchant
marine: |
total: 106 ships (1,000 GRT or over) totaling 1,656,452 GRT/2,643,036
DWT
ships by type: bulk 21, cargo 5, chemical tanker 27, container 4,
liquefied gas 1, petroleum tanker 13, refrigerated cargo 30, roll
on/roll off 4, specialized tanker 1
note: includes some foreign-owned ships registered here as a flag of
convenience: Cyprus 2, Denmark 2, Finland 1, Greece 11, Norway 3, UK
3, US 3 (2000 est.)
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| Airports: |
3 (2000 est.)
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| Airports
- with paved runways: |
total: 2
1,524 to 2,437 m: 2 (2000 est.)
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| Airports
- with unpaved runways: |
total: 1
914 to 1,523 m: 1 (2000 est.)
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| Military
branches: |
Royal Cayman Islands Police Force (RCIPF)
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| Military
- note: |
defense is the responsibility of the UK
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| Disputes
- international: |
none |
| Illicit
drugs: |
vulnerable to drug money laundering and drug transshipment to the US
and Europe
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