Monday, November 21, 2005

Country Focus: Cayman Islands

Dependency status: overseas territory of the UK
Location: Caribbean, island group in Caribbean Sea, nearly one-half of the way from Cuba to Honduras

Population: 44,270

Total Area: 262 sq km - 1.5 times the size of Washington, DC

Climate: tropical marine; warm, rainy summers (May to October) and cool, relatively dry winters (November to April)

Natural resources: fish, climate and beaches that foster tourism

Environment - current issues: no natural fresh water resources; drinking water supplies must be met by rainwater catchments

Environment - international agreements: NA

National holiday: Constitution Day, first Monday in July

Economy - brief 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.

Labor force: 19,820

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

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

Oil - production: 0 bbl/day (2001 est.)

Oil - imports: NA

Oil - exports: NA

Exports: $1.2 million

Imports: $457.4 million

Imports - commodities: foodstuffs, manufactured goods

Imports - partners: US, Trinidad and Tobago, UK, Netherlands Antilles, Japan

Government departments: Cayman Isalnds Government

Media: Cayman Net News Online

Travel Information: Lonely Planet

Other useful links:
Law Library of Congress legal information
Cayman Turtle Farm
Cayman Islands Chamber of Commerce
Cayman Islands Offshore Financial Services Directory

News headlines

New Cayman Islands reinsurer formed Insurance NewsLink 17:38
Cayman searches for level playing field Cayman Net News 14:22 18-Nov-05
New Website Showcases the Best of the Cayman Islands PRWeb (Press Release) 08:04 18-Nov-05
Cayman’s image under attack? Cayman Net News 22:25 17-Nov-05
Hedge fund forming Cayman-based reinsurer Business Insurance 22:10 16-Nov-05
Cayman’s Remembrance Day Celebration Cayman Net News 15:12 11-Nov-05