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Home / News / Merchandise imports fell slightly in 2012

Merchandise imports fell slightly in 2012

"The total value of goods imported by Cayman residents in 2012 was recorded at CI$758.5 million"

The total value of goods imported by Cayman residents in 2012 was recorded at CI$758.5 million, marginally lower by 0.1 percent compared to 2011.

⫿The drop was mainly due to lower imports of petroleum products,??? notes the Hon. Premier and Finance Minister, Mrs Juliana O’Conner-Connolly. Both the quantity and average price of imported motor gas, diesel and aviation fuel registered declines in 2012 compared to 2011.

In contrast, the total value of non-petroleum products increased by 4.8 percent, to reach CI$606.6 million. ⫿This shows resurgence in local demand for consumption and capital goods,??? the Premier also noted.

Increases were recorded for products classified as food and live animals; beverages and tobacco; chemical and related products; manufactured goods classified chiefly by materials and machinery and transport equipment.

Meanwhile, imports from three countries (United Kingdom, Jamaica and Mexico) recorded sharp increases although the USA continues to Cayman’s dominant trading partner. Imports from USA accounted for 89.4 percent of total imports with a value of CI$678.0 million in 2012, compared to CI$689.1 million in 2011.

In 2012, the country’s total exports comprising mainly of re-exports of personal effects, fell by 9.5 percent to $16.4 million. All export categories fell with the exception of food and live animals which recorded a significant increase of 108.2 percent.

The Cayman Islands’ Foreign Trade Statistics Report 2012