Merchandise imports fell for the first three months of 2021
The total value of the Islands’ importation of goods stood at $288.6 million, a decrease of 2.4 percent for the first quarter of 2021. This decrease resulted from the reduction in both non-petroleum and petroleum-related imports.
Non-petroleum imports amounted to $264.6 million, an increase of 0.7 percent. There was a 145.7 percent growth in the imports of commodities and transactions not classified elsewhere, such as non-monetary gold and a 7.4 percent increase in imports of manufactured goods classified chiefly by material such as cork and wood and non-ferrous metals imports. Imports of chemicals and related products increased for the quarter as a result of the growth in medicinal and pharmaceutical products as well as plastics in non-primary form for the first three months of the year. Items that declined were food items such as meat, vegetables and fruit, cereal and dairy products. Also, imports of a variety of both alcoholic and non-alcoholic beverages declined. Miscellaneous manufactured articles such as articles of aparallel and furniture and parts also fell.
Petroleum and petroleum-related imports recorded a considerable decrease of 27.1 percent to reach $24.1 million. This reduction was driven by decreased volumes of motor, aviation and diesel fuel imported. The decline in volumes outweighed the increases in the average price of mineral fuel for the first quarter of the year.
More information on the “The Cayman Islands’ Quarterly Trade Statistics Bulletin: January to March 2021” are available at www.eso.ky.