Part 140

Legislative branch: unicameral Legislative Assembly: election last held 18 November 1992 (next to be held NA November 1996); results - percent of vote by party NA; seats - (15 total, 12 elected) independents 12

Judicial branch: Grand Court; Cayman Islands Court of Appeal

Political parties and leaders: no formal political parties

International organization participation: Caricom (observer), CDB, Interpol (subbureau), IOC

Diplomatic representation in US: none (dependent territory of the UK)

US diplomatic representation: none (dependent territory of the UK)

Flag: blue, with the flag of the UK in the upper hoist-side quadrant and the Caymanian coat of arms on a white disk centered on the outer half of the flag; the coat of arms includes a pineapple and turtle above a shield with three stars (representing the three islands) and a scroll at the bottom bearing the motto HE HATH FOUNDED IT UPON THE SEAS

Economy -------

Economic overview: With no direct taxation, the Islands are a thriving offshore financial center. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded one million visitors in 1995 for the first time. About 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world.

GDP: purchasing power parity - $750 million (1994 est.)

GDP real growth rate: 4.5% (1994 est.)

GDP per capita: $22,500 (1994 est.)

GDP composition by sector: agriculture: 1.4% industry: 3.2% services: 95.4% (1994 est.)

Inflation rate (consumer prices): 1.8% (1995 est.)

Labor force: 8,061 by occupation: service workers 18.7%, clerical 18.6%, construction 12.5%, finance and investment 6.7%, directors and business managers 5.9% (1979)

Unemployment rate: 7% (1992)

Budget: revenues: $141.5 million expenditures: $160.7 million, including capital expenditures of $NA (1991)

Industries: tourism, banking, insurance and finance, construction, construction materials, furniture

Industrial production growth rate: NA%

Electricity: capacity: 80,000 kW production: 230 million kWh consumption per capita: 6,899 kWh (1993)

Agriculture: vegetables, fruit; livestock; turtle farming

Illicit drugs: a major money-laundering center for illicit drug profits; transshipment point for narcotics bound for the US and Europe

Exports: $10 million (f.o.b., 1993 est.) commodities: turtle products, manufactured consumer goods partners: mostly US

Imports: $312 million (c.i.f., 1993 est.) commodities: foodstuffs, manufactured goods partners: US, Trinidad and Tobago, UK, Netherlands Antilles, Japan

External debt: $15 million (1986)

Economic aid: recipient: ODA, $NA

Currency: 1 Caymanian dollar (CI$) = 100 cents

Exchange rates: Caymanian dollars (CI$) per US$1 - 0.83 (18 November 1993), 0.85 (22 November 1993)