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Latest Indicators

Estimated Gross Domestic Product:
3.8%, Jan - Mar 2022 / Jan - Mar 2021
Gross Domestic Product Actual:
5.7%, Dec 2020
Average Consumer Price Index (CPI):
12.1%, June 2022 / June 2021
Census Population:
71,105, as of Oct 2021
Unemployment Rate:
5.7%, as at Oct 2021
Merchandise Imports ($):
16.7% Jan - Mar 2022 / Jan - Mar 2021
Balance of Payments Current Account Deficit % GDP:
18.0% of GDP, Dec 2020
Home / News / Caymans’ economy expanded by an estimated 1.7% in the nine months of 2021

Caymans’ economy expanded by an estimated 1.7% in the nine months of 2021

As measured by the real gross domestic product (GDP), economic activity in the Cayman Islands is estimated to have increased by 1.7% in the first nine months of 2021.

Indicators suggest that the growth in economic activity was relatively broad-based, with only three sectors contracting. The largest positive changes were seen in real estate, which grew by 6.5%, and construction, which rose by 5.7%. The financing and insurance services sector, which remains the largest contributor to GDP, grew by an estimated 2.4% for the first nine months of the year.

Economic activity continued to be negatively impacted by the closure of Cayman’s borders, which led to a contraction in the hotels and restaurants sector and the transport sector.

The central government recorded an overall surplus of CI$62.8 million in the first three quarters of the year. This resulted from revenue of $784.7 million and expenditure of $721.9 million.

The central government’s outstanding debt declined to $235.1 million as at September 2021, lower than the $261.4 million recorded as at September 2020.

For more information on the The Cayman Islands’ Third Quarter Economic Report 2021,” please visit www.eso.ky.