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Estimated Gross Domestic Product:
3.8%, Jan - Mar 2022 / Jan - Mar 2021
Gross Domestic Product Actual:
4.0%, Dec 2021
Average Consumer Price Index (CPI):
9.5%, Dec 2022 / Dec 2021
Census Population:
71,105, as of Oct 2021
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2021 Life Expectancy at birth - Male:
80.4
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Estimated Population:
81,546, Year-End December 2022
Unemployment Rate:
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Merchandise Imports ($):
17.8% Jul - Sep 2022 / Jul - Sep 2021
Balance of Payments Current Account Deficit % GDP:
13.6% of GDP, Dec 2021
Home / News / Falling Oil Prices Continue to Cut Cayman’s Imports

Falling Oil Prices Continue to Cut Cayman’s Imports

"For the third consecutive quarter in 2015, the total imports of the Cayman Islands fell."

The total value of all merchandise goods imported into the country amounted to CI$178.8 million, lower by 9.1 percent as compared to $196.6 million in the same period in 2014.

“The decline largely reflects the impact of depressed international oil prices on petroleum-related imports, which continued to rise in quantity,” explained the Minister for Finance and Economic Development, Hon. Marco Archer.  

Non-petroleum products, which accounted for 84.9 percent of total imports, fell at a comparatively lower rate of 3.3 percent. Among the major sub-categories,  miscellaneous manufactured goods which included professional equipment, furniture parts and road vehicles registered the largest contractions.

More information on the The Cayman Islands’ Quarterly Trade Statistics Bulletin: July to September 2015,” are available at www.eso.ky.