Cayman Islands Exports, Imports and Trade

June 29, 2010Cayman Islandsby EconomyWatch

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Officially, the exports of the Cayman Islands are listed as gormet sea salt, turtle products and some consumer goods, with a value of $2.5m in 2004.

The reality, of course is that the Cayman Islands make vastly more money by that by effectively exporting financial services. Since they have a tax-free status, they are home to a large number of companies - over 70,000 in fact, including Seagate Technologies, SMIC, Garmin - and almost 600 banks and trust companies.

 

Industry

Since they are tax free they don't generate direct revenues to the government - and hence don't show up in offical export figures - but they do constitute multi-million dollar indirect revenue streams.

The tourism sector is the other major component of GDP, and again there is an effective export of tourism services. The Cayman Islands needs to import almost all of its food requirements and other necessities. In 2004 this constituted $866.9 million worth of imports. It desalinates most if its water supplies.

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