September 16,2019
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Projected Gross Domestic Product:
3.3%, 2018 / 2017
Gross Domestic Product Actual:
3.0%, Dec 2017 / Dec 2016
First Quarter Consumer Price Index (CPI):
4.5 %, March 2019 / March 2018
Total Population:
65,813, as of Fall 2018
Unemployment Rate:
2.8%, as at Fall 2018
Merchandise Imports ($):
11.2% March 2019 / March 2018
Balance of Payments Current Account Deficit (EST) % GDP:
32.1%, Dec 2017
Home / News / Cayman’s Overall Imports Recover in the First Quarter

Cayman’s Overall Imports Recover in the First Quarter

"The country’s merchandise imports in the quarter ending March 2016 amounted to CI$197.9 million,"

The country’s merchandise imports in the quarter ending March 2016 amounted to CI$197.9 million, higher by 11.9% or CI$21.0 million higher compared to the same period in 2015. 

 

“I am pleased to note that imports in the first quarter increased, indicating a recovery from an overall decline in 2015,” stated the Hon. Marco Archer, Minister for Finance and Economic Development.

 

Total imports in 2015 declined by 6.3% due to a reduction in petroleum-related imports while non-petroleum imports grew at 2.0%.

 

The increase in the first quarter of 2016 is due to imports of non-petroleum products which rose by CI$29.9 million (or 19.6%) to reach CI$182.6 million. “Among these products, the highest growth rate of 85% was seen in capital goods, and this bodes well not only for economic growth this year but also in the coming years,” Minister Archer further stated.

 

Petroleum-related imports continued to decline in the first quarter, this time by 36.8% to settle at CI$15.28 million, due to a reduction in both the average prices and quantities of gasoline and diesel.