March 24,2020
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Latest Indicators

Projected Gross Domestic Product:
3.1%, Jan - June 2019 / Jan - June 2018
Gross Domestic Product Actual:
4.1%, Dec 2018 / Dec 2017
Average Consumer Price Index (CPI):
5.7%, 2019 / 2018
Total Population:
68,076, as of Spring 2019
Unemployment Rate:
3.0%, as at Spring 2019
Merchandise Imports ($):
17.3% Jan - Sept 2019 / Jan - Sept 2018
Balance of Payments Current Account Deficit (EST) % GDP:
18.7% of GDP, Dec 2018
Home / News / Caymans’ economy expanded by an estimated 3.0% in the First Quarter

Caymans’ economy expanded by an estimated 3.0% in the First Quarter

Economic activity in the Cayman Islands as measured by the gross domestic product (GDP) in real terms is estimated to have grown by 3.0% in the first three months of 2019.

Indicators show that the economic performance was broad-based, led by expansions in hotels and restaurants (7.9%), wholesale and retail trade, repair and installation of machinery (5.9%), construction (5.8%), other services (7.1%), and real estate (5.2%).

Economic activity for the quarter was in the context of robust stay-over tourist arrivals and continued growth in construction and auxiliary sectors which boosted higher employment and population levels.

The central government recorded an overall surplus of CI$205.0 million in the first three months of the year, the highest first-quarter surplus on record. This resulted from $27.4 million increase in revenue which outweighed a $9.3 million increase in total expenditure.

The central government’s outstanding debt fell anew and settled at $417.4 million as at March 2019, lower than the $447.2 million recorded for the same period in 2018.

For more information on the The Cayman Islands’ First Quarter Economic Report 2019,” please visit www.eso.ky.