Tag: imports and exports
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 […]
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 […]
New law tightens protection for local flora
(CNS): The Cayman Islands Government has successfully steered the Plant Protection Act, 2023 through parliament in order to tighten the rules around importing plants that may harbour pests and threaten the local flora. Cayman’s native plants and trees are at risk from a range of new plant pests, such as the ever-present mealybug to the […]
Minister takes ‘fruitful’ scoping trip to Honduras
(CNS): Agriculture Minister Jay Ebanks has said his ministry is looking to establish and promote a direct shipping route between the Cayman Islands and Honduras in order to import fresh fruit and vegetables and other agricultural products from that country. As the government seeks to improve direct trade links in the region to strengthen Cayman’s […]
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 […]
Cayman Islands imports grow by nearly 16%
(CNS): Cayman was on something of a spending spree last year, importing a record amount of goods, with the total value brought into the islands increasing by 15.7% to reach CI$1,058.6 million, compared to the $914.8 million worth of imports in 2017. The growth was reported in the latest foreign trade statistics produced by the […]
Car import figures soaring
(CNS): Statistics revealed in the Legislative Assembly earlier this month show that car imports to Cayman have been increasing steadily since 2009. Over the last decade more than 31,000 cars have been brought to Cayman, according to figures from customs, and well over half of those vehicles were imported since the beginning of 2016. Last […]
Minister agrees to tackle traffic troubles
(CNS): Government has agreed to examine setting emissions and other standards for vehicles imported into the Cayman Islands and address other issues fuelling congestion on local roads. Responding last week to a motion on the weight of traffic and the importation of vehicles, a merger of two private members’ motions, Joey Hew, the minister responsible […]
Building duty cuts roll on despite economic boom
(CNS): Government has confirmed that the 15% import duty concessions on building materials imported to Grand Cayman will continue next year, despite the current development boom and what the finance ministry called the “robust investments” in Cayman’s economy. The duty cut was originally implemented to encourage development during the recession, but according to the latest […]
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 Economics […]
