RSSEconomy

Imports fall by 2% in 2017’s first quarter

Imports fall by 2% in 2017’s first quarter

| 09/07/2017 | 0 Comments

(CNS Business): The total value of all goods imported into the Cayman Islands in the first quarter of 2017 was CI$207.8 million, a drop of some CI$4.3 million compared with the same period last year. Officials from the Economics and Statistics office said the decline was due to a 6.1% reduction [...]

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3,500 businesses asked for data to measure local economy

3,500 businesses asked for data to measure local economy

| 27/03/2017 | 0 Comments

(CNS Business): The Economics and Statistics Office has begun its annual business surveys to measure local economic performance. Officials said about 3,500 forms for the System of National Accounts (SNA) and the Balance of Payments (BOP) surveys, which began Monday, have been sent to the business [...]

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Fidelity drops debate from conference

Fidelity drops debate from conference

| 24/01/2017 | 2 Comments

(CNS Business): Although this is an election year in Cayman, the annual economic conference organised by Fidelity Bank will not include a panel debate or a head-to-head with politicians. The Cayman Economic Outlook conference will, as usual, include an address from the premier but there will be n [...]

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$630 million BOP deficit offset by services surplus

$630 million BOP deficit offset by services surplus

| 20/12/2016 | 1 Comment

(CNS Business): Cayman’s $629.6 million current account deficit in its balance of payments for 2015 was partially offset by the surplus from trade in services amounting to $757.6 million, according to the Economics and Statistics Office. The Balance of Payments (BOP) and International Investme [...]

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Increase in imports signals economic recovery

Increase in imports signals economic recovery

| 11/07/2016 | 0 Comments

(CNS Business): Finance and Economic Development Minister Marco Archer has said that the near 12% increase in imported goods at the beginning of this year compared to the previous year was a sign of the economic recovery in the Cayman Islands. According to figures released by the Economics and [...]

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Cayman’s fuel issue skews inflation rate

Cayman’s fuel issue skews inflation rate

| 21/05/2016 | 0 Comments

(CNS Business): The Consumer Price Index (CPI) in Cayman fell by 2.8% during the first quarter of 2016 compared to the same time last year. The apparent deflation in the domestic economy is not necessarily a sign of an impending recession but as a result of a fall in oil prices and a reflection o [...]

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Import values drop due to oil prices

Import values drop due to oil prices

| 20/05/2016 | 2 Comments

(CNS Business): Demand for imports into the Cayman Islands grew by around 7% in 2015 but the value decline by 6.3% compared to last year because of the fall in oil prices. Figures from the Economics and Statistics Office (ESO) revealed in its Foreign Trade Statistics Report that the total value [...]

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ESO to begin upgraded business surveys

ESO to begin upgraded business surveys

| 29/03/2016 | 1 Comment

(CNS Business): The Economics and Statistics Office will be starting the annual business surveys next Monday, collecting information to measure the economic performance of the Cayman Islands as a whole and all the individual sectors in 2015. Together, the System of National Accounts (SNA) and the [...]

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CIG keeps Moody’s Aa3 rating on its bonds

CIG keeps Moody’s Aa3 rating on its bonds

| 04/03/2016 | 4 Comments

(CNS Business): The finance minister credits government’s fiscal prudence for retaining the Cayman Islands’ solid credit rating and stable economic outlook after the international credit rating agency, Moody’s, maintained Cayman’s Aa3 rating for the government’s bonds issued in a f [...]

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Bank’s economist predicts spending spree

Bank’s economist predicts spending spree

| 27/01/2016 | 5 Comments

(CNS): A Cayman-based economist at the RBC Royal Bank is predicting that lower gas and oil prices will trigger spending. During a client reception here in the Cayman Islands, Senior Vice President and Chief Economist Craig Wright assessed the global economic trends for the year ahead and told [...]

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Oil price decline cuts import figures

Oil price decline cuts import figures

| 19/10/2015 | 0 Comments

(CNS): The value of imports into the Cayman Islands fell again in the second quarter of this year, recently released government statistics have revealed. The total value of all goods brought in CI$182.9 million, 9% lower than the value of goods this time last year, which had reached well over $2 [...]

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Chamber leader accuses CIG of appeasing minorities

Chamber leader accuses CIG of appeasing minorities

| 05/10/2015 | 1 Comment

(CNS Business): The Labour Relations bill is an example of legislation drafted to appease the concerns of a small minority and not the fix needed to grow the economy, the Chamber of Commerce president said in his address at the Legislative Lunch last week. Barry Bodden made it clear that the Cha [...]

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World’s wealth is growing offshore

World’s wealth is growing offshore

| 29/09/2015 | 0 Comments

(CNS Business): A French economist has estimated that the amount of wealth held offshore has increased by 25% in the last five years and currently stands at around US$7.6 trillion, or 8% of the world’s assets. In a new book, The Hidden Wealth of Nations, which is already grabbing headlines, Ga [...]

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Private sector development boom fails to materialize

Private sector development boom fails to materialize

| 20/08/2015 | 0 Comments

(CNS Business): Progress on the private sector construction projects government is depending on to boost the local economy is thin on the ground as the PPM administration passes its halfway mark. From Frank Sound to George Town, government has touted a number of proposed developments by private [...]

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Gas prices on the rise

Gas prices on the rise

| 13/08/2015 | 4 Comments

(CNS Business): The planning minister has questioned the basis for the increase of fuel prices and suggested that oil companies are “making hay while the sun shines”. Kurt Tibbetts continues to push for some type of public utilities commission to oversee the islands’ two major fuel distr [...]

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