Merchandise Imports declined in 2020
The total value of the Islands’ importation of goods stood at $1,114.4 million, recording a decrease of 6.3 percent for 2020. This decline resulted from decreases in both non-petroleum as well as petroleum-related imports.
Non-petroleum imports amounted to $1,025.5 million, a decrease of 2.2 percent. Reductions occurred in most categories of imports, especially miscellaneous manufactured articles such as articles of apparel, photographic apparatus, equipment and supplies and optical goods, as well as furniture and parts. Also, recording decreases were machinery and transport equipment such as electrical and industrial machinery, road vehicles, and other transport equipment. Imports of beverages and tobacco declined by 17.0 percent from the decline in most categories of alcoholic and non-alcoholic beverages. Additionally, food imports fell by 2.8 percent for the year. The reduction in food primarily reflected the decrease in vegetables and fruits, dairy products and eggs. However, there was an increase in imports of chemicals and related products n.e.s, such as the increased importation of medicinal and pharmaceutical products, essential oils, and cleansing preparations.
Petroleum and petroleum-related imports recorded a significant decrease of 37.0 percent to reach $88.8 million. This decrease was driven by lower quantities and prices of all major categories of fuel imported in 2020.
More information on the “The Cayman Islands’ Annual Foreign Trade Statistics Report 2020,” are available at www.eso.ky.