Remittance inflows to GDP (%) in Cayman Islands
Cayman Islands: Remittance inflows to GDP (%) was 0.2% in 2020. ◆ Volatile
Remittance inflows to GDP in Cayman Islands, 2006–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
Cayman Islands recorded 0.2% for remittance inflows to gdp in 2020.
Compared with earlier readings it is down 32.5% on the previous year.
Over the whole period, remittance inflows to gdp in Cayman Islands peaked at 0.3% in 2017 and was at its lowest, 0.0%, in 2006.
That places Cayman Islands 166th out of 197 countries with data for 2020, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Remittance inflows to GDP (%) in Cayman Islands, year by year
| Year | % | Change |
|---|---|---|
| 2006 | 0.0% | — |
| 2007 | 0.0% | — |
| 2008 | 0.0% | — |
| 2009 | 0.0% | — |
| 2010 | 0.0% | — |
| 2011 | 0.0% | — |
| 2012 | 0.0% | — |
| 2013 | 0.0% | — |
| 2014 | 0.0% | — |
| 2015 | 0.0% | — |
| 2016 | 0.3% | — |
| 2017 | 0.3% | +9.6% |
| 2018 | 0.3% | -14.5% |
| 2019 | 0.2% | -7.7% |
| 2020 | 0.2% | -32.5% |
Cayman Islands compared with similar countries
- Cayman Islands's 0.2% is below the median for high income countries, which is 0.8%, 21% of the median. (67 countries reporting)
- Cayman Islands's 0.2% is below the median for Latin America & Caribbean, which is 3.3%, 5% of the median. (36 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 0.0% | 0.0% | 0.0% | 4 |
| 2010s | 0.1% | 0.0% | 0.3% | 10 |
| 2020s | 0.2% | 0.2% | 0.2% | 1 |
Countries ranked near Cayman Islands
More financial sector data for Cayman Islands
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 10.83 % change on previous year (2024)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.0249 SDR per US$ of GDP (2024)
- Reserves excluding gold, foreign exchange (SDR), per capita 2,596 SDR per person (2024)
- Reserves excluding gold (SDR), annual growth rate 10.83 % change on previous year (2024)
- Reserves excluding gold (SDR), per capita 2,596 SDR per person (2024)
- Total reserves (gold at market value) (SDR), annual growth rate 10.83 % change on previous year (2024)
- Total reserves (gold at market value) (SDR), per capita 2,596 SDR per person (2024)
- Total reserves (gold at national valuation) (SDR), annual growth rate 10.83 % change on previous year (2024)
- Total reserves (gold at national valuation) (SDR), per capita 2,596 SDR per person (2024)
- Total reserves in months of imports, annual growth rate 12.65 % change on previous year (2024)
Frequently asked questions
- What is remittance inflows to gdp in Cayman Islands?
- Remittance inflows to gdp in Cayman Islands was 0.2% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Cayman Islands?
- The highest recorded value was 0.3% in 2017.
- What is the lowest remittance inflows to gdp recorded in Cayman Islands?
- The lowest recorded value was 0.0% in 2006.
- How does Cayman Islands rank for remittance inflows to gdp?
- Cayman Islands ranks 166th out of 197 countries with data for 2020.
- Where does this Cayman Islands data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.