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Latest Indicators

Estimated Gross Domestic Product:
8.2%, Jan - Sept 2020 / Jan - Sept 2019
Gross Domestic Product Actual:
6.7%, Dec 2020 / Dec 2019
Average Consumer Price Index (CPI):
1.0%, March 2021 / March 2020
Total Population:
65,786, as of Fall 2020
Unemployment Rate:
5.2%, as at Fall 2020
Merchandise Imports ($):
2.4% Jan - Mar 2021 / Jan - Mar 2020
Balance of Payments Current Account Deficit % GDP:
18.3% of GDP, Dec 2019
Census Portal - [ESO Staff Only]
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.