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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).

 

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

To go further, check out our service Import Export Flows

 
 

Main Services

Source: United Nations Statistics Division, Latest Available Data

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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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Latest Update: April 2022

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