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 / Economy contracted by 0.4% in the First Quarter

Economy contracted by 0.4% in the First Quarter

"The Cayman Islands’ economy contracted by an estimated 0.4 percent in the first quarter of 2013."

The Cayman Islands’ economy contracted by an estimated 0.4 percent in the first quarter of 2013.

The major sources of decline were financing and insurances services, real estate, renting and business activities, and wholesale and retail trade. These sectors’ performance outweighed the growth in hotels and restaurants, construction and utilities.

⫿Despite the weakness in the first quarter performance, the forecast GDP growth for the year is maintained at 2.0 percent,??? Mr. Marco Archer, Honourable Minister for Finance and Economic Development, stated. ⫿The forecast is conditional on the recovery mainly of the financing and insurance services and the sustained growth of construction and tourism services,??? he further added.