Government begins survey of local economy

| 25/03/2015 | 5 Comments

(CNS): The Economics and Statistics Office will begin collecting essential data next week as it starts the annual surveys covering all entities that produce goods and services in the Cayman Islands. On Monday the ESO will distribute the System of National Accounts (SNA) and Balance of Payments (BOP) surveys which are designed to measure the economic performance of the Cayman Islands as a whole and all its sectors.

A total of 4,500 forms will be either mailed or hand-delivered to local businesses, government entities and non-profit organisations. The surveys will collect comparative information for 2014 to assist the government and private sectors in their policy-making and planning, as well as provide the global financial community with updated economic data on the country.

The last SNA survey conducted in 2014 showed that the country’s gross domestic product (GDP), a measure of the total value of goods and services produced locally, amounted to $2.49 billion in 2013 after adjusting for price increases, officials stated in a release posted on the ESO site.

The BOP survey showed that in the same year, the islands earned $1.53 billion from the export of its services mainly tourism, business and financial services, as well as goods, against a total payment of $1.61 billion.

Assuring the confidentiality of the mandatory surveys, officials said all SNA and BOP survey returns are confidential as mandated by the Statistics Law. They are exempt from the Freedom of Information Law and the information collected will be used exclusively for ESO’s statistical purpose only. ESO officials emphasised that the survey results will be published in aggregate form only, with individual information remaining confidential.

The SNA survey is designed in accordance with the internationally accepted standards issued by the United Nations Statistical Commission. The BOP survey is based on guidelines prescribed by the International Monetary Fund (IMF).

All survey respondents have until May 15to return their completed forms. Upon request, ESO survey officers can also assist entities in filling up the forms. Survey forms and other information can also be downloaded from or may be requested by contacting 949-0940.

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Comments (5)

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  1. Anonymous says:

    Does CIG have any idea how to move cayman forward and attract investors, train caymanians to do the work needed?
    Could you explain the question?

  2. Anonymous says:

    Cayman is getting by because locals and expats alike are just helping each other survive
    their is no money laying around Cayman Investors don’t want to come because of the internet letting the world know that at a whim things will change in cayman.
    For example
    immigration policy or perhaps taxing expats
    the fact that your leaders do corrupt acts and get away with it.
    Hatred crime stupidity in general.
    All on line for All to see

    At the end of the day Cayman is Bankrupt and it is sad

    • Anonymous says:

      We don’t need expensive surveys! We need jobs for Caymanians! Such fool fool do-nothing Govt! Does anyone know if it is true that Dart paid Alden’s way to the UK?

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