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Projected Gross Domestic Product:
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Home / News / Global Oil Price Decline Brought Down Merchandise Imports in the First Quarter

Global Oil Price Decline Brought Down Merchandise Imports in the First Quarter

"The total value of all merchandise goods imported into the Cayman Islands in the first quarter of 2015 amounted to CI$176.9 million."

Global Oil Price Decline Brought Down

Merchandise Imports in the First Quarter

 

 

The total value of all merchandise goods imported into the Cayman Islands in the first quarter of 2015 amounted to CI$176.9 million. This is lower by CI$26.3 million compared the same period in 2014.

 

The decline is attributed to the 45.9 percent reduction in the total value of petroleum and related products that resulted from their lower prices in the global market. 

 

Imports of non-petroleum products, which accounted for 86.3 percent of total imports fell by 3.6 percent and stood at CI$152.7 million. Imports of machinery and transportation (largely road vehicles, aircraft equipment and telecommunications equipment) fell significantly.  However, the total value of food imports registered an increase.