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Latest Indicators

Estimated Gross Domestic Product:
3.8%, Jan - Dec 2022 / Jan - Dec 2021
Gross Domestic Product Actual:
4.0%, Dec 2021
Average Consumer Price Index (CPI):
4.1%, June 2023 / June 2022
Census Population:
71,105, as of Oct 2021
2021 Life Expectancy at birth:
82.1
2021 Life Expectancy at birth - Male:
80.4
2021 Life Expectancy at birth - Female:
83.7
Estimated Population:
83,671, June 2023
Unemployment Rate:
2.4%, as at June 2023
Merchandise Imports ($):
17.4% Jan - Dec 2022 / Jan - Dec 2021
Balance of Payments Current Account Deficit % GDP:
13.6% of GDP, Dec 2021
Home / News / Cayman’s economy expanded by an estimated 3.4% in the nine months of 2022

Cayman’s economy expanded by an estimated 3.4% in the nine months of 2022

As measured by the real gross domestic product (GDP), economic activity in the Cayman Islands is estimated to have increased by 3.4% in the first nine months of 2022.

Indicators suggest that the economic expansion was broad-based, with only one sector contracting. The largest positive changes were seen in hotels & restaurants, which grew by 22.5%, and transport storage and communication, which rose by 12.7%. The financing and insurance services sector, which remains the largest contributor to GDP, grew by an estimated 2.1% for the first nine months of the year.

The central government recorded an overall surplus of CI$66.6 million in the first three quarters of the year. This resulted from revenue of $818.0 million and expenditure of $751.4 million.

The central government’s outstanding debt increased to $524.4 million as at September 2022, higher than the $222.7 million recorded as at September 2021.

For more information on the The Cayman Islands’ Third Quarter Economic Report 2022,” please visit www.eso.ky.