Merchandise Imports increased growth in 2022
The total value of the Islands’ importation of goods stood at $1,498.7 million, recording an increase of 17.4 percent for 2022. This growth resulted from increases in both non-petroleum as well as petroleum-related imports.
Non-petroleum imports amounted to $1,265.1 million, an increase of 10.2 percent. The increase occurred in most categories, especially food and live animals such as vegetables and fruit, meat and meat preparations, dairy products and birds eggs. Also, miscellaneous manufactured articles grew by 16.0 percent with increases in imports of articles of apparel, photographic apparatus, equipment and supplies and optical goods. Beverages and tobacco grew by 22.8 percent and 6.8 percent, respectively, with the larger imports of beverages including both alcoholic and non-alcoholic beverages. Manufactured goods classified chiefly by materials grew by 4.0 percent as a result of the increased purchases of manufactures of metals, cork and wood manufactures and iron and steel. However, imports of machinery and transport goods declined by 1.3 percent for the year, reflecting decreased imports of road vehicles, general industrial machinery and equipment, and machinery specialised for particular industries.
Petroleum and petroleum-related imports recorded a significant growth of 81.3 percent to reach $233.6 million. This increase was driven by higher average prices of all major categories of fuel imported in 2022.
More information on the “The Cayman Islands’ Annual Foreign Trade Statistics Report 2022,” are available at www.eso.ky.