Topic: GDP
Insurance industry adds $233M a year to Cayman economy, study says
The report showed that the insurance industry directly employed 256 people, with almost half of the posts held by Caymanians.
Beyond GDP: Cayman needs a new yardstick for measuring success
Small island developing states (SIDS), like the Cayman Islands, present an anomaly in economic growth, thriving despite traditional economic theories predicting failure.
Cayman by numbers: GDP up but cost of living rises
The Cayman Islands’ gross domestic product in 2022 was the highest ever recorded, and unemployment rate was down to the lowest in years, according to the latest statistics.
Tourism recovery boosts economic growth in first quarter
Economic activity in the Cayman Islands, in terms of real gross domestic product, is estimated to have increased by 3.8% in the first three months of 2022.
Cayman’s economy grows 3.8% in first quarter 2022
The Cayman Islands economy was slightly ahead of government’s growth projections in the first quarter of this year.
OECD: GDP accelerates but remains below pre-pandemic levels
Economic growth in OECD countries remains below pre-pandemic levels, despite a gross domestic product increase of 1.6% in the second quarter.
Economy grew by 1.9% in the first quarter 2020
Cayman’s economy entered the difficult period of the COVID-19 pandemic and related lockdown measures this year with a 1.9% first-quarter increase of its gross domestic product in real terms.
OECD countries report unprecedented fall in GDP
Following the COVID-19 pandemic-containment measures around the world, real gross domestic product in OECD countries has suffered an unprecedented 9.8% fall in the second quarter of this year.
Government projects 7.2% economic contraction in 2020
Cayman’s economy is expected to contract by 7.2% this year before recovering partially with a 6.4% expansion in 2021, according to Finance Minister Roy McTaggart.
Leading indicators strengthen after crisis in all major economies
Composite leading indicators for July in OECD countries continued to strengthen from the COVID-19-crisis lows across all major economies. However, the numbers remain below long-term trends and at levels lower than those recorded prior to the coronavirus outbreak.
Record fall in G20 GDP in first quarter of 2020
With the implementation of COVID-19-containment measures across the world, real gross domestic product in the G20 area has fallen by 3.4% in the first quarter of 2020, exceeding the GDP decline of 1.5% in the first quarter of 2009 at the height of the financial crisis.
EDITORIAL – Riding the rising economic tide in the Caribbean
The trajectory of the Caribbean economy has been a “good news” story for a good while now. The latest thread in this positive narrative is the recent statistical report from the Caribbean Development Bank, estimating that the region’s gross domestic product grew by 0.6 percent last year, and forecasting 2 percent growth this year.
EDITORIAL – A Christmas toast to Cayman’s strong economy
The Cayman Islands has experienced five consecutive years of economic growth. That’s cause for early Christmas cheer (no mug of eggnog required).
Economic growth continues for 5th consecutive year
The Cayman Islands hit a milestone of five consecutive years of growth, government economists announced Friday, with the gross domestic product reaching $2.8 billion in 2015.
Cayman’s economy grew 2.4% in Q1
Led by construction, real estate and financial services, Cayman’s economy grew in the first quarter of this year, according to a report released recently by the government Economics and Statistics Office.
Households spent $1.7 billion in 2015
Gross domestic product grew 2 percent last year, slower than 2014’s 2.4 percent growth, according to the Economics and Statistics Office’s annual economic report. Growth in construction, real estate, financial services and government continued to be Cayman’s economic drivers.
Cayman’s economic growth slows
The Cayman economy grew an estimated 1.6 percent in the first three quarters of 2015, down from 2.4 percent for the same period in 2014, according to a new report from the Economics and Statistics Office.
