March 24,2020
In view of the latest situation concerning the Coronavirus (COVID-19) and to comply with the Government’s directive to close all non-essential businesses; Our office will be closed from March 25th 2020 until further notice. During this closure, we will occasionally be accessing our emails which could result in delayed responses. For general office queries and/or data request please contact The Director, Adolphus Laidlow, at [email protected] or our emergency hotline at 1(345)516-3329. Do your part to save lives. We ask that all persons comply with the curfew and regulations as stated by the Cayman Islands Government. For official information on the Coronavirus visit gov.ky/coronavirus. #stayhomesavelives
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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 / GDP Growth in the First Half of the year Estimated at 3.1%

GDP Growth in the First Half of the year Estimated at 3.1%

Economic activity in the Cayman Islands as measured by the gross domestic product (GDP) in real terms is estimated to have grown by 3.1% in the first six months of 2019.

The strong economic performance was contributed by all major sectors with the highest growth rates indicated for hotels and restaurants (8.0%), wholesale and retail trade, repair and installation of machinery (6.1%), construction (5.9%), electricity and water supply (4.6%) and real estate (4.5%).

Stay over tourist arrivals increased by 11.0% to a record 280,704 in the first half of the year. This increased international demand, coupled with a 3.8% rise in the domestic population level to 65,813 spurred the growth in auxiliary sectors for the review period.

Coinciding with the strong GDP growth, the central government recorded an overall surplus of CI$178.3 million in the first half of 2019. This resulted as growth in revenue of $37.3 million outweighed a rise in total expenditure of $37.2 million. The increase in revenue was generated mainly from domestic taxes on goods and services, led by financial service fees. The rise in expenditure is traced to increases in current expenses such as employee compensation which rose by 12.7%.

The central government’s outstanding debt fell anew and settled at $407.1 million as at June 2019, lower than the $431.5 million recorded for the same period in 2018.

For more information on the The Cayman Islands’ Semi-Annual Economic Report 2019,” please visit www.eso.ky.