Tag: Economics and Statistics Office
ESO compendium paints last year in numbers
(CNS): The Cayman Islands Compendium of Statistics 2021, which has now been released by the Economics and Statistics Office, pulls together all of the information collected by the ESO over the course of last year. Many of the figures have already changed dramatically since the data was sourced, not least the overall population. When the census was […]
Value of imports grows 25% in first half of 2022
(CNS): The total value of merchandise imports grew by 25.2% to $387.56 million during the first quarter of this year compared to the $309.47 million worth of goods imported in 2021, largely as a result of high fuel prices, as petroleum-related products increased in value by 113%, the Economics and Statistics Office has reported. Growth […]
Workforce grew by almost 15% since census
(CNS): The number of people in the Cayman Islands currently in a job has grown by almost 15% since the census was completed less than twelve months ago. The combined number of people looking for a job or in work also grew to 11.7%, increasing the actual workforce here to a record level of 54,398 […]
Inflated demand drove 1.8% GDP growth in 2021
(CNS): What economists described as a pent-up demand as well as robust growth in financial services led to an inflation-fuelled expansion in domestic output last year, with the real gross domestic product (GDP) estimated to have expanded by 1.8%. The Cayman Islands Annual Economic Report 2021, released by the Economics and Statistics Office (ESO) Thursday, revealed […]
Inflation soars to record level of over 12%
(CNS): The consumer price index (CPI) increased by 12.1% in the second quarter of 2022 when compared to the same period in 2021, according to a release from the Economics and Statistics Office. The CPI was also up by 2.2% on the already recording-breaking levels of inflation for the first quarter of 2022.
Inflation running at record high of 11.2%
(CNS): The Consumer Price Index (CPI) increased by 11.2% in the first quarter of this year when compared to the same period in 2021. All twelve CPI divisions recorded increases in average prices, with housing and utilities increasing by more than 20% and fuel by over 29% over the last 12 months. While residents of […]
Fuel import costs increased 44% in 2021
(CNS): Petroleum and petroleum-related import costs grew by 44% last year, reaching a record $128.9 million as a result of the high average prices of all major fuels brought into the country, according to the Annual Foreign Trade Statistics Report published by the Economics and Statistics Office on Thursday. The report reveals that the total […]
Cost of living pain reflected in ESO report
(CNS): The Economics and Statistics Office has released the cost of living statistics for 2021, which reflects the pain that everyone has been feeling with the soaring cost of living. While the average annual Consumer Price Index (CPI) rose by 3.3% across the whole year compared to 2021, that disguises the much greater impact inflation […]
Census reveals 56% of workers not Caymanian
(CNS): On Thursday evening the Economics and Statistics Office (ESO) published the preliminary report of the 2021 Census, which revealed an estimated population of 69,656 living across 29,502 households. Just under 53% of those living here are Caymanian, and there has been an increase of around 6,300 people since 2010. The unemployment rate among local […]
Imports reached record highs in mid-2021
(CNS): The total value of merchandise imports grew significantly in the second quarter of 2021 to $310.87 million, which means almost CI$100 million worth of more stuff was imported between April and June last year when compared to the same period in 2020. While much of that can be blamed on the impact of the […]
Utilities fuel soaring cost of living
(CNS): The Consumer Price Index (CPI) increased by 6.4% in the third quarter of 2021 compared to the same period last year as all twelve of the divisions assessed to measure inflation in the economy recorded increased prices. The new report from the Economics and Statistics Office also shows a spike from the 0.2% rise […]
