Cayman Islands represent one of the British overseas territory. It is also an important offshore financial center. The major sectors are tourism and financial services. Tourism brings over 70% of foreign currency earnings and GDP. As for the leisure travelers are mostly representatives of North America. Among the attractions of the Cayman Islands are duty free shopping, pristine beaches and aqua sports.

Tax free status of the country was the main factor in attracting over 70,000 companies to register on its territory. Nowadays, there are around 1,000 insurance companies, 8,000 mutual funds and 750 banks that have their affiliates in the country. The country has one of the highest standards of living in the world. GDP of the country amounted to $1.939 billion in the year 2004. The same figure per capita made up $43,800. Schooling curricula is designed after the British educational system and is obligatory for all the residents. The education until 16 years of age is free.

The main share of GDP, 95,4%, is provided by the services sector. Industry and agriculture bring 3,2% and 1,4% correspondingly. The agriculture produces such products as fruit, vegetables and livestock as well. The rate of inflation is calculated below 5%. Oil consumption is estimated at around 3,200 bbl/day.

The number of goods produced in the country is not sufficient for meeting the needs of its population. Thus, the country has to import over 90% of goods. The country’s main exporters are Japan, United States, Antilles and the Netherlands. The main importers of the country are North American states.