Tag: Economics and Statistics Office
Premier urges bosses to take part in wage survey
(CNS Business): Premier Alden McLaughlin is urging all employers to take part in the forthcoming Occupational Wage Survey, as the data collected will be an important tool for government and business in a number of areas, such as re-assessing the current minimum wage and helping young Caymanians make future career decisions. “It is critical that […]
GDP grows in first quarter of 2017
(CNS Business): The Cayman Islands rate of gross domestic product grew by around 2% in the first three months of 2017, according to the Economics and Statistics Office. The measure of local economic activity indicated that in the first quarter economic performance was broad-based and consistent with the 2.1% government forecast growth in GDP for this year. […]
Imports fall by 2% in 2017’s first quarter
(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 in the total value of […]
3,500 businesses asked for data to measure local economy
(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 community. The information is necessary to collect comparative information […]
ESO begins annual business survey
(CNS): The Economics and Statistics Office will be starting its annual business surveys in less than two weeks to get accurate data on the local economy. The survey forms will be hand-delivered, mailed or emailed to all entities that produce goods and services in the Cayman Islands. The surveys include the System of National Accounts (SNA) […]
$630 million BOP deficit offset by services surplus
(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 Investment Position (IIP) Report 2015 was released Friday and it details the economic and […]
Increase in imports signals economic recovery
(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 Statistics Office (ESO), the country’s merchandise imports […]
Cayman’s fuel issue skews inflation rate
(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 of […]
Import values drop due to oil prices
(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 of goods imported fell […]
ESO to begin upgraded business surveys
(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 Balance of Payments (BOP) surveys allow officials to gather […]
Oil price decline cuts import figures
(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 $200 million.
Cayman to beat regional economic slowdown
(CNS Business): The Cayman Islands is set to weather a regional economic slowdown, local officials have said, that will see the domestic economy grow by more than 2% while states across the region could see less than a half percent growth in their economies. The UN Economic Commission for Latin America and the Caribbean (ECLAC), […]
GDP jumps over 2% as inflation falls 0.4%
(CNS) The drop in fuel prices saw inflation fall in Cayman last year and the biggest upturn in the economy since 2007 led to a growth in the country’s estimated Gross Domestic Product (GDP) by 2.1 per cent in 2014. Although the quantity of imports rose in 2014, the value fell by more than $26 […]
ESO urges businesses to supply info for national accounts
(CNS Business): As the finance ministry presses ahead with its goal to improve local statistics and information, the Economics and Statistics Office (ESO) is urging local businesses to fill out and return questionnaires for the System of National Accounts (SNA) and Balance of Payments (BOP) surveys. The forms have been sent to the local business […]
Number crunchers begin workforce survey
(CNS): With a goal to create a more accurate and timely picture of the country’s workforce, the Economics and Statistics Office (ESO) will begin the first Labour Force Survey (LFS) of the year on Sunday. Following announcements by the finance minister that the ESO will revert to its twice yearly schedule, starting this weekend interviewers from the department […]
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