Merchandise Imports increased in 2024

The total value of goods imported to the Cayman Islands was $1.65 billion in 2024, an increase of 8.3 percent over the previous year.

This growth was driven primarily by the increase in non-petroleum imports, which grew by 9.0 percent to $1.43 billion.

The growth in manufactured goods classified chiefly by materials reflected larger imports of manufactures of metals, non-ferrous metals, as well as cork and wood manufactures. Growth in the imports of commodities and transactions not elsewhere classified was mainly driven by the increase in the importation of non-monetary gold and special transactions not classified according to kind.

Imports of food and live animals amounted to $286.3 million, an 8.5 percent increase over 2023. This outturn included growth in a wide range of items, including meat and meat preparations, vegetables and fruit, cereal and cereal preparations, dairy products, and birds’ eggs.

Machinery and transport equipment imports grew 5.5 percent in 2024, reflecting the increased value in the purchase of road vehicles, power generating machinery and equipment, and electrical machinery, apparatus and appliances.

Additionally, miscellaneous manufactured articles grew by 4.6 percent, mostly due to increases in imports of clothing, photographic apparatus, equipment and supplies, and furniture.

Imports of beverages and tobacco increased by 9.2 percent to $62.3 million due to higher imports of selected alcoholic beverages, such as beer and whisky, and non-alcoholic beverages like mineral and sparkling water.

In contrast, imports of crude materials, except fuels, declined by 20.1 due to lower importation of cork and wood, crude fertilizers and textile fibres.

Petroleum and petroleum-related imports grew by 4.6 percent to reach $225.1 million. This increase was driven by higher average prices and volumes of fuel imported in 2024.

More information on the “The Cayman Islands’ Annual Foreign Trade Statistics Report 2024,” is available at www.eso.ky.