Tag: Economics and Statistics Office
Non-oil imports grow 3.6% to over $1.31 billion
(CNS): The total value of goods imported into the Cayman Islands last year was $1.53 billion, an increase of 2% over the previous year, according to the Foreign Trade Report 2023 produced by the Economics and Statistics Office. The value of non-petroleum products grew by 3.6% from 2022 to over $1.31 billion, while the value […]
Inflation rate at odds with real life experience
(CNS): The first quarter inflation rate for 2024 was 1.5% above the rate for the first three months of 2023 and around 0.3% higher than the rate at the end of the year, according to the Economics and Statistics Office. But with inflation running so high in the Cayman Islands over the last three years, […]
Growth in WPs undermining economic growth
(CNS): Recent revelations from the 2023 Fall Labour Force Survey about the size of the workforce and the increase in local unemployment to over 5% from just over 3% last year while work permit numbers remain high raise questions about the health and sustainability of Cayman’s economy. Last year, the economy grew by about 4% […]
ESO prepares to begin labour and quality of life surveys
(CNS): The Spring Labour Force Survey (LFS) and the Quality of Life Survey (QLS) conducted by the Economics and Statistics Office will begin on Sunday, 28 April, and the ESO is urging people to take part as the Cayman Islands continues the quest to improve data collection. The LFS seeks information on employed and unemployed […]
Local unemployment up to 5% even as workforce grows
(CNS): Unemployment statistics appear to be going in the wrong direction, according to the latest numbers from the Economics and Statistics office. The Labour Force Survey (LFS) Fall 2023 Report shows that the overall unemployment rate was 3.3% in October last year, but the number of Caymanians out of work had increased to 5% (357 more people) […]
Civil service headcount increased 4.6% in Q3 of 2023
(CNS): Alongside the unprecedented growth in work permits over the last year, the civil service headcount grew by 203 (4.6%) between September 2022 and September 2023, when it stood at 4,629, according to the Economics and Statistics Office’s latest publication. The Third Quarter Economic Report 2023 said there were 36,079 work permits during this period, […]
Cayman continues to import a huge volume of vehicles
(CNS): According to the unaudited Third Quarter Economic Report 2023 covering government earnings and spending up to the end of September, a significant boost to the surplus at the time came from fees on imported motor vehicles. The earnings surpassed budget expectations by $7.8 million due to the volume of vehicles being imported. While the […]
Cayman’s GDP grew by 3.6% in the first half of 2023
(CNS): According to the Cayman Islands Semi-Annual Economic Report 2023 by the Economics and Statistics Office, the gross domestic product grew by an estimated 3.6% in the first half of last year. However, with inflation running at around 5.3% during the same six-month period, few people benefitted from the expanding economy. The weighted average lending […]
Inflation begins to slow but averaged 3.8% in 2023
(CNS): The cost of living rose by an average of 3.8% last year compared with 2022, the Economics and Statistics Office confirmed after releasing its Consumer Price Index Report for 2023 this week. While inflation slowed last year, particularly during the last quarter, the rise in the CPI followed the 9.5% average increase during the […]
Inflation slowing down but prices still climbing
(CNS): The price of food, rent, utilities and clothes all increased during the second quarter of this year. The local inflation rate is still rising, even though it has slowed down to 4.1% from its peak of over 12% in the summer of 2022. The Consumer Price Index (CPI) between March and June was 130.4, […]
145k tons of rubbish reflects problems of growth
(CNS): Last year, the Department of Environmental Health managed 145,590 tonnes of garbage compared to less than 39,000 a decade ago. This is just one of many figures revealed in the Cayman Islands Compendium of Statistics that reflect how the surge in population has had a major knock-on effect on numerous infrastructure and community issues […]
