Cayman Islands Records 2.9% GDP Growth in first quarter 2025 as Demand for Services Drives Expansion

Preliminary estimates show that the Cayman Islands’ economy expanded at an annualised rate of 2.9% in the first quarter of 2025, slightly moderating from the 3.6% growth estimated in Q1 2024. The expansion was broad-based, fueled by sustained demand across core service industries. Notable expansions include electricity and water supply (4.6%), hotels and restaurants (4.5%), business activities and administrative services (4.3%), health and social services (4.7%), and finance and insurance services (2.9%). Key infrastructure sectors also posted gains, with wholesale and retail trade up 3.9%, and construction increasing by 2.3%. The performance reinforces a positive outlook, with real GDP projected to grow by 2.6% for the year

The central government recorded an overall surplus of CI$244.8 million in the year's first three months. This reflected revenue of $554.1 million and expenditure of $309.3 million.

The central government’s outstanding debt declined to $396.9 million as of March 2025 from $445.9 million as of March 2024.

For more information on “The Cayman Islands’ First Quarter Economic Report 2025,” please visit www.eso.ky.