What was Cayman Islands's GDP (current US$) in 2023?

In 2023, Cayman Islands's GDP (current US$) was $7.24 billion, according to World Bank Open Data.

Is Cayman Islands's GDP (current US$) rising or falling?

Cayman Islands's GDP (current US$) rose 8.7% from 2022 to 2023.

How does Cayman Islands's GDP (current US$) compare to the world average?

The global average for GDP (current US$) in 2023 was $572.20 billion, so Cayman Islands is below the world average.

Cayman Islands: GDP (current US$)

Name: Cayman Islands: GDP (current US$)
Creator: World Bank
License: https://datacatalog.worldbank.org/public-licenses#cc-by

In 2023, Cayman Islands's GDP (current US$) was $7.24 billion.

That's up 8.7% from 2022, the highest value on record.

The global average for this indicator in 2023 was $572.20 billion .

Source: World Bank Open Data (NY.GDP.MKTP.CD) • Data as of 2023

Trend (2006–2023)

2008 · Global financial crisis
2020 · COVID-19 pandemic
2014 · Oil price collapse
2022 · Russia–Ukraine war begins

Highlights

Peak: $7.24B; 2023
Trough: $4.16B; 2010
1-year change: +8.7%
5-year change: +30.9%; +5.5% / yr
10-year change: +64.4%; +5.1% / yr

Real vs nominal growth

Over the last 10 years, Cayman Islands's nominal GDP (current US$) changed by +64.4%, while real (inflation-adjusted) GDP (constant 2015 US$) changed by +35.9%. The +28.4 percentage-point gap is the combined effect of inflation and currency movement — only the real series isolates underlying economic growth.

Historical Data — Last 10 Years

Year	GDP (current US$)
2023	7.241B
2022	6.660B
2021	6.061B
2020	5.655B
2019	5.942B
2018	5.530B
2017	5.166B
2016	4.909B
2015	4.708B
2014	4.563B

About GDP (current US$)

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Indicator code: NY.GDP.MKTP.CD • Category: Economy

How to read GDP figures: GDP (Gross Domestic Product) is measured in current US dollars, which means values change both due to real economic growth and currency fluctuations. A more useful comparison across countries is GDP per capita, which divides GDP by population. For growth trends, check GDP growth (annual %).

Frequently asked questions

What was Cayman Islands's GDP (current US$) in 2023?: In 2023, Cayman Islands's GDP (current US$) was $7.24 billion, according to World Bank Open Data.
Is Cayman Islands's GDP (current US$) rising or falling?: Cayman Islands's GDP (current US$) rose 8.7% from 2022 to 2023.
How does Cayman Islands's GDP (current US$) compare to the world average?: The global average for GDP (current US$) in 2023 was $572.20 billion, so Cayman Islands is below the world average.
What is GDP (current US$) and how is it measured?: Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

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Source: World Bank Open Data (NY.GDP.MKTP.CD), CC BY 4.0.