Second Quarter Merchandise Imports Grew by 9.4%
"In the second quarter of 2014, the total value of all merchandise goods imported into the Cayman Islands amounted to CI$196.1 million,"In the second quarter of 2014, the total value of all merchandise goods imported into the Cayman Islands amounted to CI$196.1 million, 9.4 percent higher compared to CI$179.2 million recorded for the same period in 2013.
⫿I am pleased to note that both petroleum and non-petroleum product imports increased, an indication of growth in local economic activity,??? stated the Minister for Finance and Economic Development, Hon. Marco Archer.
After declining in the first quarter by 2.0 percent, petroleum products imports rebounded in the second quarter as it rose by 12.2 percent. The increase is traced to higher volume of purchases as well as higher average prices.
Overall, imports of non-petroleum products expanded by 8.7 percent. Purchases of food and live animals and manufactured goods led the improved performance. In contrast, imports of machinery and transport equipment fell by 10.9 percent, which is largely attributed to a reduction in imported vehicles.
Tags: economic activity, Cayman Islands, Cayman ESO, Merchandise Imports