2008 Semi-Annual Economic Report Released

"The Cabinet noted last November 18, 2008 the 2008 Semi-Annual Economic Report."

The Cabinet noted last November 18, 2008 the 2008 Semi-Annual Economic Report. The Report compiles all available economic indicators as at end of June 2008 and shows their percentage change since end of June 2007. Among the significant changes are as follows:

?_ Growth in overall imports by 2.1% largely due to a 70.5% increase in imports of oil and oil products;
?_ Increase in credit from commercial banks to the private sector (households and businesses) by 7.9%;
?_ Growth in work permits by 7.2%; and
?_ Significant recovery in the property market as the value of property transfers rose by 46.6%.

The Report also highlights challenges in the following areas:

?_ Total value of non-oil imports fell by 5.7%;
?_ Total visitor arrivals declined by 10.5%, which resulted from a 13.6% slide in cruise arrivals while air arrivals increased by 9.3%.
?_ New companies’ registration declined by 3.3%; and
?_ The value of building permits dipped by 2.9% while project approvals also fell by 4.6%.



2010 Compendium of Statistics
Introduction & Explanatory Notes
Cayman Economy at a Glance
Population and Vital Statistics
National Income
Financial Services Statistics
Tourism Statistics
Transport and Communication Statistics
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