Sustained Growth in Merchandise Imports for the Second Quarter 2019
The total value of the Islands’ importation of goods stood at $274.75 million, recording an increase of 10.4 percent for the second quarter of 2019. This growth resulted from the increase in both non-petroleum and petroleum-related imports.
Non-petroleum imports amounted to $236.38 million, an increase of 11.1 percent. Growth occurred in most categories, especially machinery and transport equipment such as electrical and industrial machinery, as well as manufactured goods including building materials such as wood, cement and iron and steel. Importation of food such as vegetable, meat and fish increased by 6.5 percent, while the imports of beverages including alcoholic beverages and aerated waters grew by 38.0 percent.
Petroleum and petroleum-related imports recorded an increase of 6.2 percent to reach $38.38 million. This growth was driven by the increased volume of imported fuel, especially diesel fuel and motor oil. However, there was a reduction in the average price of petroleum products imported for the second quarter of 2019.
More information on the “The Cayman Islands’ Quarterly Trade Statistics Bulletin: April to June 2019,” are available at www.eso.ky.