Illes Caiman: Perfil comercial

Foreign Trade in Figures

The Cayman Islands are very open to international trade (106.6% of GDP, World Bank – latest data available), on which they are also heavily dependent, especially regarding the imports of consumer goods as well as tourism and financial activities. The Cayman Islands are not a member of the WTO. In 2020, the country’s main exports were machinery and transport equipment (52.9%), mineral fuels (11.8%), and crude materials (6.7%); whereas imports were driven by machinery and transport equipment (21.2%), food and live animals (17%), manufactured goods (12.1%), mineral fuels (8%), and chemical products (7.8% - Economic and Statistics Office).

For 2020, official data shows that the U.S. are by far the largest import partner, accounting for 82.2% of total imports, followed by the UK (4.8%) and Jamaica (3.6%). As per exports, no official data was released. However, the most common destinations for the exports of the Cayman Islands are generally the Netherlands, Spain, the United States, Malta, and New Zealand.

In 2020, the visible trade deficit contracted by USD 52.3 million, moving to USD 1,095.9 million, resulting from a 6.3% decrease in imports of goods and a 55.5% decrease in exports. Overall, the total value of goods imported for 2020 stood at USD 1,114.4 million, whereas exports totalled only USD 18 million. The most significant contributors to the trade deficit were: machinery and transport equipment (USD 226.6 million); miscellaneous manufactured articles (USD 223.4 million); food and live animals (USD 189.1 million); and manufactured goods classified chiefly by material (USD 134.9 - Economic and Statistics Office).

To go further, check out our service Import Controls and Export Controls

To go further, check out our service Import Export Flows

Main Services

3.7 bn USD of services exported in 2018
Financial servicesFinancial services	37.79%
TravelTravel +	23.88%
Personal travelPersonal travel	22.49%
Business travelBusiness travel	1.38%
Other business servicesOther business services	20.26%
Insurance servicesInsurance services	14.30%
TransportationTransportation	2.77%
Computer and information servicesComputer and information services	0.46%
Royalties and license feesRoyalties and license fees	0.43%
Construction servicesConstruction services	0.07%
Government servicesGovernment services	0.05%
Cultural and recreational servicesCultural and recreational services	n/a%

1.4 bn USD of services imported in 2018
Other business servicesOther business services	24.18%
Insurance servicesInsurance services	21.77%
TravelTravel +	15.47%
Personal travelPersonal travel	14.68%
Business travelBusiness travel	0.80%
Financial servicesFinancial services	15.37%
TransportationTransportation	12.38%
Royalties and license feesRoyalties and license fees	5.37%
Computer and information servicesComputer and information services	3.67%
Cultural and recreational servicesCultural and recreational services	0.89%
Construction servicesConstruction services	0.70%
Government servicesGovernment services	0.20%

Source: United Nations Statistics Division, Latest Available Data

List of tariffs and local taxes that apply to your product on our service Customs Duties and Local Taxes

Trade Compliance

International Economic Cooperation: The Cayman Islands do not belong to any customs union but are an associate member of the Carribean Community Single Market (CARICOM).
Useful Resources: Cayman Islands Customs (en anglais)
National Organisation of Intellectual Property: Company Registry

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