Economy
Local inflation increases by more than 3%
(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%, th [...]
Cayman’s 2017 imports highest for ten years
(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 Economic [...]
Unemployment persists despite economic growth
(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 Min [...]
Unemployment up to 4.9% despite robust economy
(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 unempl [...]
Work begins on latest Labour Force Survey
(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 col [...]
ESO gets to work on annual business statistics
(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 ser [...]
Cayman economy grew more than expected
(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 l [...]
Concessions renewed for builders and developers
(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 [...]
Cayman poised to draw line on global cooperation
(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 Island [...]
Budget depends on accurate forecasts
(CNS): Following the passage of the government’s first two-year budget in the Legislative Assembly last week the administration can now get down to spending the cash and implementing its policies. But the more than $1.45 billion revenue government expects to fund the expenditure, pay down debt [...]
