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GoToCayman.com - News from Cayman (ISSN: 1744-7690)

November 2006

Some interesting figures on the level of imports last year have been released.

The total value of goods imported in the Cayman Islands in 2005 amounted to SI$990.4 million (US$1.2 billion), of which nearly three quarters of a billion dollars worth of imports were from the US. The increase in imports is attributed to the reconstruction of the Islands in the aftermath of devastating Hurricane Ivan in September 2004.

Total imports rose by 36.4 per cent over 2004, with a pronounced increase in the importation of building materials and vehicles. In 2003 3,354 vehicles were imported (value $29.8 million). This rose to 5,172 in 2004 ($60 million). Last year this jumped to 8,407, valued at just under $100 million.

Cayman's main trading partner continued to be the United States of America, accounting for 76.5 percent or $757.8 million of the Islands' total imports last year. A distant second in overall imports for the year was Netherlands Antilles with 8.6 per cent valued at $85.6 million. The Netherlands was followed by Japan, with $10.5 million or 1.1 per cent; the UK and Jamaica, each with $6.9 million or 0.7 per cent; and Canada with $6.3 million or 0.6 per cent.