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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 / Caymans’ economy expanded by an estimated 3.5% in the First Half of 2022

Caymans’ economy expanded by an estimated 3.5% in the First Half of 2022

Economic activity in the Cayman Islands, as measured by real gross domestic product (GDP), is estimated to have increased by 3.5% in the first six months of 2022.

Indicators suggest that the growth in economic activity was primarily driven by increased output in the hotels and restaurants, transport, storage & communication, and the ‘other’ services sectors. The hotels and restaurants sector grew by 21.6%, while the transport, storage & communication and ‘other’ services sectors expanded by 12.6% and 10.3%, respectively. The financing and insurance services sector, which remains the largest contributor to GDP, grew by an estimated 1.9% for the first six months of the year.

The central government recorded an overall surplus of CI$144.7 million in the year's first six months. This resulted in revenue of $636.6 million and expenditure of $491.9 million.

The central government’s outstanding debt changed trajectory and rose to   $534.7 million in June 2022, higher than the $218.0 million recorded as June 2021.

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