September 16,2019
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Latest Indicators

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 / Economic Growth and Fiscal Performance Sustained in the First Quarter

Economic Growth and Fiscal Performance Sustained in the First Quarter

Economic activity in the Cayman Islands as measured by the gross domestic product (GDP) is estimated to have grown by 2.0% in the first quarter of 2017.

Indicators show that the first quarter economic performance was broad-based. The major sectors that contributed to growth were construction, electricity and water supply and wholesale & retail trade. The financing and insurance sector, which remains the largest sector, grew by 1.4%, continuing its solid performance in recent times.

The performance in the first quarter is consistent with the 2.1% forecasted GDP growth for the year.

The central government recorded an overall surplus of CI$178.1 million in the first quarter. This resulted despite an increase in expenditure (8.2%) as total revenue increased by 2.7%.  The increase in revenue was generated mainly from domestic taxes on goods and services, including financial service fees. Total expenditure increased by $11.3 million on account of additions to both current expenditure (by $5.8 million) and capital expenditure (by $5.5 million)

The central government’s outstanding debt fell anew and settled at $481.3 million as at March 2017, lower by 5.3 percent from the same period in 2016.