RSSEconomy

CIG on track for whopping surplus

CIG on track for whopping surplus

| 12/11/2018 | 75 Comments

(CNS): Government’s fiscal performance is on track for a record surplus. The financial results for the first nine months of this year show the public purse bursting at the seams with a net surplus of $183.8 million. A 99% increase on the projected figures, government has already collected $91.3 million more than it had budgeted. Officials […]

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Local economy heating up with 4% growth

Local economy heating up with 4% growth

| 22/10/2018 | 37 Comments

(CNS): The local economy is growing much faster than predicted, and while this is good news for business and government coffers, the increased economic activity across all major sectors is fuelling inflation. Gross domestic product was up 4% in the first quarter of 2018, and consumer demand led to the highest second quarter growth in imports since 2005 […]

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Local inflation increases by more than 3%

Local inflation increases by more than 3%

| 02/08/2018 | 53 Comments

(CNS): New figures from the Economics and Statistics Office show a worrying trend for Cayman, with inflation growing by 3.2% in the first quarter of 2018. Although the country saw what officials described as “robust growth” through 2017, with the gross domestic product rising by 2.9%, the inflation level is impacting the man on the […]

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Cayman’s 2017 imports highest for ten years

Cayman’s 2017 imports highest for ten years

| 20/06/2018 | 9 Comments

(CNS): The increase in the price of oil and the volume imported was behind a surge in the value of imports to Cayman last year of more than $23 million. But in a sign of improving economic fortunes for some residents, people living in Cayman also purchased a lot more goods. Figures from the Economics […]

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Unemployment persists despite economic growth

Unemployment persists despite economic growth

| 28/05/2018 | 102 Comments

(CNS): The finance minister painted a rosy picture of Cayman’s economic growth and government’s fiscal prudence when he appeared at an economic forum Friday. Roy McTaggart pointed to growth in the economy of 2.9% in 2017, with the construction and tourism sectors leading the way, but Minister Roy McTaggart also revealed that Cayman’s unemployment rate […]

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Unemployment up to 4.9% despite robust economy

Unemployment up to 4.9% despite robust economy

| 26/04/2018 | 175 Comments

(CNS): The newly published 2017 autumn Labour Force Survey has revealed that the unemployment rate in Cayman increased at the end of last year when compared to both the 2016 seasonal survey and the 2017 spring survey. The latest statistics from the Economics and Statistics Office show overall unemployment jumped from 4.1% in the spring […]

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Work begins on latest Labour Force Survey

Work begins on latest Labour Force Survey

| 16/04/2018 | 1 Comment

(CNS): The general public is being urged to cooperate with trained interviewers from the Economics and Statistics Office who began work Sunday on the Spring Labour Force Survey (LFS). Around 1,500 randomly selected households are scheduled for participation in the electronic questionnaire that collects data on people in work and those looking for jobs across the Cayman […]

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ESO gets to work on annual business statistics

ESO gets to work on annual business statistics

| 13/04/2018 | 16 Comments

(CNS): Businesses are being asked to complete survey forms over the next few weeks as the Economics and Statistics Office begins its annual work measuring the economic performance of industries in Cayman for 2017. Forms were hand-delivered, mailed and emailed to businesses that produce goods and services in the Cayman Islands at the beginning of […]

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Cayman economy grew more than expected

Cayman economy grew more than expected

| 19/03/2018 | 26 Comments

(CNS): The Cayman Islands gross domestic product (GDP) is estimated to have grown by 2.4% in the first nine months of 2017, an increase of  0.3% on the projected forecast. Officials from the Economics and Statistics Office showed economic activity was up across most sectors last year but it also led to price hikes and an […]

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Concessions renewed for builders and developers

Concessions renewed for builders and developers

| 04/12/2017 | 0 Comments

(CNS Business): The government will be continuing the flat 15% import duty rate on building materials imported to Grand Cayman for another year, officials have confirmed. The duty cut has been running for several years and Finance Minister Roy McTaggart claimed the concession was working and helping to boost the economy. “The government is committed […]

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Cayman poised to draw line on global cooperation

Cayman poised to draw line on global cooperation

| 27/11/2017 | 50 Comments

(CNS): Premier Alden McLaughlin has said the Paradise Papers leak was designed to influence the consideration of the latest European blacklist and if Cayman is on it next month, it could mark the end of cooperation. Speaking to members of the Legislative Assembly, he suggested that the Cayman Islands’ continuous and consistent cooperation, its adherence […]

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