Insurance and financial services in Cayman Islands
Cayman Islands: Insurance and financial services was 30.3% in 2024. ▼ Falling
Insurance and financial services in Cayman Islands, 2016–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
The most recent figure for insurance and financial services in Cayman Islands is 30.3%, measured in 2024. That is the lowest value across all 9 years on record.
Compared with earlier readings it is down 1.5% on the previous year and down 13.7% over ten years.
Over the whole period, insurance and financial services in Cayman Islands peaked at 40.5% in 2017 and was at its lowest, 30.3%, in 2024.
Cayman Islands ranks 3rd of 197 countries on this measure, in the top 10%.
Insurance and financial services in Cayman Islands, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 2016 | 35.1% | — |
| 2017 | 40.5% | +15.4% |
| 2018 | 37.1% | -8.5% |
| 2019 | 37.5% | +1.3% |
| 2020 | 38.9% | +3.6% |
| 2021 | 37.3% | -4.1% |
| 2022 | 30.7% | -17.6% |
| 2023 | 30.8% | +0.1% |
| 2024 | 30.3% | -1.5% |
Cayman Islands compared with similar countries
- Cayman Islands's 30.3% is above the median for high income countries, which is 6.4%, 4.8× the median. (72 countries reporting)
- Cayman Islands's 30.3% is above the median for Latin America & Caribbean, which is 10.1%, 3.0× the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 37.6% | 35.1% | 40.5% | 4 |
| 2020s | 33.6% | 30.3% | 38.9% | 5 |
Countries ranked near Cayman Islands
- 1 Luxembourg 49.4% compare
- 2 Bahrain 35.0% compare
- 4 Libya 27.7% compare
- 5 Macau, China 22.1% compare
- 6 United States of America 20.3% compare
More private sector data for Cayman Islands
- Merchandise trade 26.4% (2024)
- Food imports 21.3% (2024)
- Manufactures imports 58.8% (2024)
- Merchandise imports 2.11 billion current US$ (2025)
- Food exports 3.8% (2024)
- Manufactures exports 26.0% (2024)
- Merchandise exports 25.00 million current US$ (2025)
- Merchandise exports (current US$), per capita 329.62 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.0088 current US$ per US$ of GDP (2024)
- Merchandise exports (current US$), annual growth rate -63.24 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Cayman Islands?
- Insurance and financial services in Cayman Islands was 30.3% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Cayman Islands?
- The highest recorded value was 40.5% in 2017.
- What is the lowest insurance and financial services recorded in Cayman Islands?
- The lowest recorded value was 30.3% in 2024.
- How does Cayman Islands rank for insurance and financial services?
- Cayman Islands ranks 3rd out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Cayman Islands?
- Over the last ten years it is down 13.7%. The long-run trend across the full record is falling.
- Where does this Cayman Islands data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of commercial service imports). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 9 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service imports which are commercial services provided by non-residents to residents.