The 2003 CIA World Factbook. United States. Central Intelligence Agency
total population: 98%
male: 98%
female: 98% (1970 est.)
Government Cayman Islands
Country name: conventional long form: none conventional short form: Cayman Islands
Dependency status:
overseas territory of the UK
Government type:
British crown colony
Capital:
George Town
Administrative divisions:
8 districts; Creek, Eastern, Midland, South Town, Spot Bay, Stake
Bay, West End, Western
Independence:
none (overseas territory of the UK)
National holiday:
Constitution Day, first Monday in July
Constitution:
1959, revised 1972 and 1992
Legal system:
British common law and local statutes
Suffrage:
18 years of age; universal
Executive branch:
chief of state: Queen ELIZABETH II (since 6 February 1952);
Governor Bruce DINWIDDY (since 29 May 2002)
elections: none; the monarch is hereditary; the governor is
appointed by the monarch; the chief secretary is appointed by the
governor
head of government: Chief Secretary W. McKeeva BUSH (since NA
December 2001)
cabinet: Executive Council (three members appointed by the governor,
four members elected by the Legislative Assembly)
Legislative branch:
unicameral Legislative Assembly (18 seats, three appointed members
from the Executive Council and 15 elected by popular vote; members
serve four-year terms)
elections: last held 8 November 2000 (next to be held NA November
2004)
election results: percent of vote - NA%; seats - NA
Judicial branch:
Summary Court; Grand Court; Cayman Islands Court of Appeal
Political parties and leaders:
there are no formal political parties but the following loose
groupings act as political organizations; National Team [leader NA];
Democratic Alliance [leader NA]; Team Cayman [leader NA]; United
Democratic Party [leader NA]
Political pressure groups and leaders:
NA
International organization participation:
Caricom (associate), CDB, Interpol (subbureau), IOC, UNESCO
(associate)
Diplomatic representation in the US:
none (overseas 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 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 - $1.27 billion (2002 est.)
GDP - real growth rate:
1.7% (2002 est.)
GDP - per capita:
purchasing power parity - $35,000 (2002 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):
2.8% (2002)
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:
381.9 million kWh (2001)
Electricity - production by source: fossil fuel: 100% hydro: 0% other: 0% (2001) nuclear: 0%
Electricity - consumption:
355.2 million kWh (2001)
Electricity - exports:
0 kWh (2001)
Electricity - imports:
0 kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
2,400 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Agriculture - products:
vegetables, fruit; livestock, turtle farming
Exports: