Cayman Islands imports climb over 8% in 2024
Key Points(5)
- The Cayman Islands recorded an 8.3% increase in total merchandise imports in 2024, reaching a value of US$1.65 billion, according to the recently released Cayman Islands Annual Foreign Trade Statistics Report 2024.
- The growth was largely driven by non-petroleum imports, which rose 9% to US$1.43 billion—reflecting solid domestic demand across multiple sectors of the economy.
- One of the strongest areas of growth came from food and live animal imports, which increased by 8.5% to US$286.3 million.
- The report noted higher imports of essential items such as meat, fresh vegetables and fruit, cereals, dairy products, and eggs—suggesting a mix of population growth and increased consumer purchasing power.
- Imports of beverages and tobacco also rose significantly, climbing 9.2% to US$62.3 million.
The Cayman Islands recorded an 8.3% increase in total merchandise imports in 2024, reaching a value of US$1.65 billion, according to the recently released Cayman Islands Annual Foreign Trade Statistics Report 2024. The growth was largely driven by non-petroleum imports, which rose 9% to US$1.43 billion—reflecting solid domestic demand across multiple sectors of the economy.
One of the strongest areas of growth came from food and live animal imports, which increased by 8.5% to US$286.3 million. The report noted higher imports of essential items such as meat, fresh vegetables and fruit, cereals, dairy products, and eggs—suggesting a mix of population growth and increased consumer purchasing power.
Imports of beverages and tobacco also rose significantly, climbing 9.2% to US$62.3 million. This category was boosted by increased demand for alcoholic beverages, including beer and whisky, as well as non-alcoholic options like sparkling and mineral water.
Machinery and transport equipment imports rose 5.5%, indicating continued infrastructure investment and expansion in transportation. This included greater imports of road vehicles, power-generating equipment, and electrical machinery.
Manufacturing-related goods also played a role in the growth, with a rise in imports of metal manufactures, non-ferrous metals, and wood products.
However, not all categories posted gains. Crude materials (excluding fuels) dropped sharply by 20.1%, primarily due to reduced imports of cork and wood, crude fertilizers, and textile fibers.
Petroleum and petroleum-related imports saw a modest increase of 4.6%, totaling US$225.1 million. The uptick was attributed to both higher fuel prices and increased import volumes.
Miscellaneous manufactured articles—including clothing, furniture, and photographic equipment—experienced modest growth of 4.6%.
The report suggests the broad-based increase in imports reflects strong consumer confidence, steady population growth, and an expanding tourism sector. Growth in infrastructure-related imports also signals continued investment by both government and private sector entities in the Cayman Islands’ development.
