Cayman Islands: Merchandise trade (% of GDP)

Key figures

What the numbers say

In 2024, Cayman Islands' merchandise trade (% of GDP) rose 0.62 percentage points on 2023 (from 25.82% to 26.44%).

Across the 17 yearly changes before that (2007 to 2023), the average change was +0.03 percentage points and a typical year strayed about 1.45 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 2.31 percentage points in 2011 and the biggest yearly fall was 2.85 percentage points in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 0.59 percentage points a year. A straight line explains 82% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Cayman Islands had the 8th highest value of the 10 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Cayman Islands in the 2024 ranking

• Aruba — 5th of 10: 39.66%
• French Polynesia — 6th of 10: 38.74%
• Bahamas, The — 7th of 10: 35.58%
• Turks and Caicos Islands — 9th of 10: 26.24%
• Bermuda — 10th of 10: 14.55%

What this measures

General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 19 values

Merchandise trade (% of GDP) in nearby economies

• Antigua and Barbuda — 41.49% (2025)
• Argentina — 23.85% (2025)
• Aruba — 39.66% (2024)
• Bahamas, The — 35.58% (2024)
• Barbados — 33.14% (2025)
• Belize — 56.37% (2025)
• Bolivia — 30.46% (2025)
• Brazil — 28.16% (2025)
• Chile — 55.87% (2025)
• Colombia — 26.36% (2025)
• Costa Rica — 52.39% (2025)

More private sector & trade data for Cayman Islands

• International tourism, number of arrivals — 660,000 (2020)
• Import unit value index (2015 = 100) — 137 (2025)
• Export unit value index (2015 = 100) — 108.4 (2025)
• International tourism, receipts (current US$) — US$964 million (2019)
• Merchandise imports (current US$) — US$2.11 billion (2025)
• Merchandise exports (current US$) — US$25 million (2025)
• New business density (new registrations per 1,000 people ages 15-64) — 201.01 (2024)
• New businesses registered (number) — 11,197 (2024)
• International tourism, expenditures (current US$) — US$299 million (2019)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Cayman Islands's merchandise trade (% of GDP)?

26.44% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 1.08 percentage points from 25.36% in 2006. The highest value was 27.56% in 2022 and the lowest 21.55% in 2010.

How does Cayman Islands rank?

8th highest of 10 economies with data for 2024.

Is the latest change in merchandise trade (% of GDP) unusual for Cayman Islands?

In 2024, Cayman Islands' merchandise trade (% of GDP) rose 0.62 percentage points on 2023 (from 25.82% to 26.44%). Across the 17 yearly changes before that (2007 to 2023), the average change was +0.03 percentage points and a typical year strayed about 1.45 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator TG.VAL.TOTL.GD.ZS, licensed CC BY 4.0. Original source: World Trade Organization (WTO); World Bank GDP estimates, World Bank (WB); World Development Indicators, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.