News

The total value of the merchandise imports grew for the second quarter of 2024. Goods imported for the quarter stood at $404.86 million, an increase of 7.4 percent.  This growth reflected higher imports of petroleum and petroleum-related products by 11.4 percent, as well as the 6.7 percent growth in the imports of non-petroleum goods.

There was a 7.4 percent growth for the quarter in the imports of machinery and transport equipment, such as road vehicles, electrical machinery, and power-generating machinery and equipment. Food and live animals grew by 7.8 percent, mainly through items such as meat and meat preparations, vegetables and fruit, and dairy products and birds eggs. There was a 10.2 per cent growth in manufactured goods, such as manufactures of metals and non-ferrous metals, for the quarter, while miscellaneous manufactured goods, which includes items such as clothing, jewellery and furniture, grew 4.2 percent over the previous corresponding quarter. Imports of chemicals and related products like essential oils and medicinal and pharmaceutical products were higher by 6.8 percent. In comparison, imports of beverages and tobacco reflected a growth of 1.7 percent for the June 2024 quarter.

In contrast, there were reductions in the importation of crude materials, as cork and wood imports declined by 83.5 percent. This reduction also reflected a 94.4 percent decline in the imports of textile fibres.

There was a higher imported value of all major fuel types due to the increased average price of diesel, motor spirit and aviation fuel on the international market, even though the volume of imported diesel fuel declined marginally from April to June 2024.

More information on the “The Cayman Islands’ Quarterly Trade Statistics Bulletin: April to June 2024” is available at www.eso.ky.