Economic Surveys in March
Cayman's annual collection of economic data mainly from businesses begins 14 March.
The Economics and Statistics Office (ESO) will conduct the Balance of Payments (BOP) and System of National Accounts (SNA) surveys over two months. The surveys specifically target businesses, non-profit organisations and government entities.
Devised with help from the Caribbean Technical Assistance Centre (CARTAC), the surveys are tailor-made to meet the demands of Cayman's businesses for accurate statistics reflecting the true nature of the local business climate, ESO states.
"Over the years, Cayman's business community has repeatedly sought economic data so that they can plan better," outlined ESO Director Maria Zingapan.
"The SNA and BOP methodologies we follow are the same used in advanced economies in the world," explained Survey Coordinator Yvonne Newland.
From 7-10 March, ESO staff will distribute nearly 5,000 questionnaires to organisations that then have until 13 May to return them to the ESO, she said.
Survey Coordinator Julietta Beaupierre stated that the questionnaires can be returned either by post or by hand to the ESO office on the third floor in Elizabethan Square, or electronically by those who downloaded a questionnaire from Economics and Statistics Office.
Also, ESO can pick up completed forms, she added.
Participation in the surveys is mandated in the Statistics Law, which also prohibits communication or publication of information that might identify a business or an individual.
"ESO will use the data gathered only as aggregate statistics," Ms Zingapan said.
For further information contact: Bina Mani