Strong growth in Merchandise Imports for the Third Quarter 2019
The total value of the Islands’ importation of goods stood at $329.18 million, recording an increase of 28.8 percent for the third quarter of 2019. This growth resulted from increases in both non-petroleum and petroleum-related imports.
Non-petroleum imports amounted to $292.74 million, an increase of 32.4 percent. Growth occurred in most categories, especially commodities and transactions not elsewhere classified such as non-monetary gold, machinery and transport equipment such as electrical and industrial machinery, as well as miscellaneous manufactured goods including professional scientific and controlling instruments and photographic equipment. Importation of food overall was lower by 1.4 percent, even though items such as vegetable, meat and fish increased, while the imports of beverages including alcoholic beverages and aerated waters grew by 13.6 percent.
Petroleum and petroleum-related imports recorded an increase of 5.6 percent to reach $36.44 million. This growth was driven by higher volume of imported fuel, especially diesel and aviation fuel. However, there was a reduction in the average price of petroleum products imported for the third quarter of 2019.
More information on the “The Cayman Islands’ Quarterly Trade Statistics Bulletin: July to September 2019,” are available at www.eso.ky.