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Estimated Gross Domestic Product:
8.2%, Jan - Sept 2020 / Jan - Sept 2019
Gross Domestic Product Actual:
6.7%, Dec 2020 / Dec 2019
Average Consumer Price Index (CPI):
1.0%, March 2021 / March 2020
Total Population:
65,786, as of Fall 2020
Unemployment Rate:
5.2%, as at Fall 2020
Merchandise Imports ($):
2.4% Jan - Mar 2021 / Jan - Mar 2020
Balance of Payments Current Account Deficit % GDP:
18.3% of GDP, Dec 2019
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Home / News / Economy Expanded by 1.5% in the First Quarter while Fiscal Surplus Increased

Economy Expanded by 1.5% in the First Quarter while Fiscal Surplus Increased

"The Cayman Islands’ gross domestic product (GDP) expanded anew by an estimated 1.5 percent in the first quarter of 2014."

The Cayman Islands’ gross domestic product (GDP) expanded anew by an estimated 1.5 percent in the first quarter of 2014. Among the production sectors, the major sources of growth were hotels and restaurants; wholesale and retail trade; transport storage and communication; real estate, renting and business activities; and construction.

⫿The first quarter performance suggests that the economy is on a sustainable recovery path,??? Hon. Marco Archer, Minister for Finance and Economic Development stated. ⫿Furthermore, it is broad-based as a number of sectors have contributed to it. Given this performance, I am cautiously optimistic that we will see an overall GDP growth of 1.9 percent in 2014,??? he further said.

The economic growth occurred amidst further improvement in the fiscal surplus from CI$131.8 million in the first quarter of 2013 to CI$149.4 million this year. This was generated by strong growth in revenue and a decline in total expenditure. The central government’s total outstanding debt thus fell to CI$558.3 million as at March 2014, as compared to CI$582.6 million a year ago.


Tags: Cayman Economy, economic Expansion, Fiscal Surplus Increased, Cayman ESO