Cayman Islands

Cayman Islands ranked No. 101 in total trade value through July with a total of $427.43 million. Exports totaled $416.43 million and Imports totaled $11 million, a surplus of $405.43 million.

U.S. trade with Cayman Islands rose to $427.43 million through July

Cayman Islands’s trade with the United States rose to $427.43 million through the first seven months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 33.21 percent below its total trade during the same time period last year. U.S. exports to Cayman Islands decreased 31.82 percent while U.S. imports from Cayman Islands fell 62.33 percent. The U.S. surplus with Cayman Islands was $405.43 million.

Through July, the top five among the nation’s airports, seaports and border crossings were No. 1 Port Everglades, Fla.; No. 2 Low-Valued Imports and Exports; No. 3 Port of Palm Beach, Fla.; No. 4 Miami Int’l Airport; and No. 5 Port of Port Arthur, Texas. During the same period the previous year, the top five were No. 1 Port Everglades, Fla.; No. 2 Low-Valued Imports and Exports; No. 3 Port of Palm Beach, Fla.; No. 4 Miami Int’l Airport and No. 5 Seattle-Tacoma International Airport. In the current time period, the top five accounted for 84.86 percent of Cayman Islands’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port Everglades, Fla. fell 16.41 percent to $121.21 million.
    Exports fell 15.63 percent to $119.77 million. Imports fell 52.61 percent to $1.45 million.
  • Trade with No. 2 Low-Valued Imports and Exports fell 24.21 percent to $95.44 million.
    Exports fell 24.21 percent to $95.44 million. There were no imports.
  • Trade with No. 3 Port of Palm Beach, Fla. fell 17.81 percent to $92.83 million.
    Exports fell 17.6 percent to $92.7 million. Imports fell 71.6 percent to $126,014.
  • Trade with No. 4 Miami Int’l Airport fell 38.06 percent to $35.48 million.
    Exports fell 33.17 percent to $28.23 million. Imports fell 51.79 percent to $7.26 million.
  • Trade with No. 5 Port of Port Arthur, Texas totaled $17.73 million.
    Exports totaled $17.73 million. There were no imports.

Cayman Islands ranked No. 101 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 94.

Meanwhile, total U.S. trade with the world increased to $2.08 trillion, down 49.83 percent compared to the same period last year. The nation’s exports dropped 51.38 percent to $799.82 billion; imports dropped 48.81 percent to $1.28 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $479.12 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Cayman Islands by value through July were the categories of Low value shipments; Gasoline, other fuels; Motorboats and yachts; Passenger vehicles; and Jewelry, parts, respectively. They accounted for 43.26 percent of total exports to Cayman Islands.

The value of the top five categories of U.S. imports from Cayman Islands –– Returned exports, without change; Cell phones, related equipment; Estimates of low-value imports; Copper waste and scrap; and Coffee –– accounted for 89.35 percent of all inbound shipments.

Looking more closely at U.S. exports to Cayman Islands:

  • Low value shipments fell 24.21 percent compared to last year to $95.44 million.
  • Gasoline, other fuels fell 51.8 percent compared to last year to $43.08 million.
  • Motorboats and yachts fell 22.28 percent compared to last year to $24.46 million.
  • Passenger vehicles fell 12.24 percent compared to last year to $9.05 million.
  • Jewelry, parts fell 32.69 percent compared to last year to $8.13 million.

Looking more closely at U.S. imports from Cayman Islands:

  • Returned exports, without change fell 57.7 percent compared to last year to $4.77 million.
  • Cell phones, related equipment fell 42.66 percent compared to last year to $4.13 million.
  • Estimates of low-value imports fell 22.6 percent compared to last year to $360,616.
  • Copper waste and scrap fell 18.39 percent compared to last year to $321,676.
  • Coffee totaled $251,737. The previous year, there were no imports in this category.

In the latest annual figures available, Cayman Islands recorded $1.18 billion in trade with the United States. Total U.S. exports to Cayman Islands were $ 1.13 billion and imports from Cayman Islands were $48.59 million. The U.S. surplus with Cayman Islands was $1.08 billion.