Cayman Islands: Taxes less subsidies on products (current LCU)

Key figures

What the numbers say

In 2024, Cayman Islands' taxes less subsidies on products (current LCU) rose 1.4% on 2023 (from 342.21 million to 347.01 million).

Across the 17 yearly changes before that (2007 to 2023), the average change was +3.4% and a typical year strayed about 13.6% from that (the standard deviation). This year's change was 0.1 standard deviations below 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 37.1% in 2021 and the biggest yearly fall was 22.7% in 2020. 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 15.64 million a year. A straight line explains 79% 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 23rd highest value of the 31 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

• Curaçao — 20th of 31: 971.4 million
• Belize — 21st of 31: 963.64 million
• Macao SAR, China — 22nd of 31: 905 million
• Bermuda — 24th of 31: 332.49 million
• Turks and Caicos Islands — 25th of 31: 308.51 million
• Solomon Islands — 26th of 31: 266.39 million

What this measures

Taxes less subsidies on products are taxes payable per unit of a good or service. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

All 19 values

Taxes less subsidies on products (current LCU) in nearby economies

• Antigua and Barbuda — 737.4 million (2025)
• Argentina — 130.88 trillion (2025)
• Aruba — 861.28 million (2023)
• Bahamas, The — 1.95 billion (2024)
• Barbados — 1.67 billion (2025)
• Belize — 963.64 million (2024)
• Bolivia — 24.85 billion (2024)
• Brazil — 1.79 trillion (2025)
• Chile — 32.67 trillion (2025)
• Colombia

More economic policy & debt data for Cayman Islands

• Foreign direct investment, net inflows (BoP, current US$) — US$35.78 billion (2025)
• Adjusted savings, mineral depletion (current US$) — US$0 (2021)
• Foreign direct investment, net outflows (BoP, current US$) — US$25.25 billion (2025)
• Adjusted savings, carbon dioxide damage (current US$) — US$32.69 million (2021)
• Adjusted savings, energy depletion (current US$) — US$0 (2021)
• Foreign direct investment, net outflows (% of GDP) — -22.43% (2024)
• Foreign direct investment, net inflows (% of GDP) — 40.92% (2024)
• Agriculture, forestry, and fishing, value added (current US$) — US$35.15 million (2024)

Reading data like this

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Questions people ask

What is Cayman Islands's taxes less subsidies on products (current LCU)?

347.01 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 55.17% from 223.64 million in 2006 (2.47% a year on average, compounded). The highest value was 347.01 million in 2024 and the lowest 173.61 million in 2010.

How does Cayman Islands rank?

23rd highest of 31 economies with data for 2024.

Is the latest change in taxes less subsidies on products (current LCU) unusual for Cayman Islands?

In 2024, Cayman Islands' taxes less subsidies on products (current LCU) rose 1.4% on 2023 (from 342.21 million to 347.01 million). Across the 17 yearly changes before that (2007 to 2023), the average change was +3.4% and a typical year strayed about 13.6% from that (the standard deviation). This year's change was 0.1 standard deviations below 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 NY.TAX.NIND.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, 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.

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