seas territory of the UK)

Diplomatic representation from the US: none (overseas territory of
the UK)

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

Economy Cayman Islands

Economy - overview: 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 1998, 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 in 1997, with
600,000 from the US. 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.

GDP: purchasing power parity - $1.18 billion (1999 est.)

GDP - real growth rate: 4.5% (2000)

GDP - per capita: purchasing power parity - $30,000 (1999 est.)

GDP - composition by sector: agriculture: 1.4% industry: 3.2% services:
95.4% (1994 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 2.3% (2000)

Labor force: 19,820 (1995)

Labor force - by occupation: agriculture 1.4%, industry 12.6%, services
86% (1995)

Unemployment rate: 4.1% (1997)

Budget: revenues: $265.2 million expenditures: $248.9 million, including
capital expenditures of $NA (1997)

Industries: tourism, banking, insurance and finance, construction,
construction materials, furniture

Industrial production growth rate: NA%

Electricity - production: 355 million kWh (2000)

Electricity - production by source: fossil fuel: 100% hydro: 0% other: 0%
(2000) nuclear: 0%

Electricity - consumption: 330.15 million kWh (2000)

Electricity - exports: 0 kWh (2000)

Electricity - imports: 0 kWh (2000)

Agriculture - products: vegetables, fruit; livestock, turtle farming