ESO gets to work on annual business statistics

| 13/04/2018 | 16 Comments

(CNS): Businesses are being asked to complete survey forms over the next few weeks as the Economics and Statistics Office begins its annual work measuring the economic performance of industries in Cayman for 2017. Forms were hand-delivered, mailed and emailed to businesses that produce goods and services in the Cayman Islands at the beginning of this week. The information owners provide will be used to inform the System of National Accounts (SNA), which estimates the total value of goods and services produced by the various industries here.

It will also be used to calculate the Balance of Payments (BOP), which measures payment to and receipts from the rest of the world.

Officials from the ESO said all survey returns are confidential as mandated by the Statistics Law and are exempt from the Freedom of Information (FOI) Law.

“The survey returns will be used exclusively for ESO’s statistical purpose. ESO officials emphasise that the survey results will be published in aggregate form only, with all individual information remaining confidential,” the office stated in a release.

All survey respondents will be required to return a completed form by 1 June. ESO staff will be available to assist entities in completing the forms. Survey forms and other information can also be found on the ESO website, or requested by contacting 244-4679 or 244-4600.

Tags:

Category: Economy, Politics

Comments (16)

Trackback URL | Comments RSS Feed

  1. Anonymous says:

    I have received this form multiple times, at least six, and it is an annoying and invasive bother. We are a small business, without back office staff. It is unfair to put this burden on small businesses. They probably do no not even look at, or archive this info. It is such a bunch of crap. Send it to Dart, not me.

  2. Anonymous says:

    How many cars are currently on island? and how many are being imported annually?

  3. Douglas says:

    As someone who just received one of these…. maybe Cayman should consider having different forms for small businesses versus large businesses. Not sure why the same form for a business of 1 person should be required for a business of 1000. The form is not even applicable for many who receive it and half the time you cannot even enter the minimum entry.

    For example, the minimum entry for any field is 1000. So when they ask interest earned at bank account and the banks here pay 0.001% interest, what does a person insert in the data field: 0.0000001?

    The forms don’t make sense and the data received won’t make sense either.

    12
    1
    • Anonymous says:

      Glad to hear your comments, keep them coming. ESO cant get better by working in a vacuum. Your inputs and opinions will be appreciated without the sentiment that you are personaly attacking them. Many organizations and instituions on the island cant mature past taking comments from their faculty so they stunt their own growth…not the ESO. Thank you for your much appreciated opinons.

      4
      3
    • Anonymous says:

      Yea, 70 years of 1000’s of statistician working over what is the best way to measure a nations GDP should just be thrown away. Lets hear your ideas what we should do.

      2
      3
  4. Anonymous says:

    Hey. ESO. What is the population of the Cayman Islands?

    12
  5. Anonymous says:

    11:47. Perfect point.

    5
    1
  6. Anonymous says:

    They publish public reports in the aggregate to protect those who do participate, and the reports inform those who want to invest further in Grand Cayman. Do your part to make our Island the best…the world is watching how we handle the next 20 years. Bad information leads to bad decision making. Garbage in => Garbage out.

    3
    4
  7. Anonymous says:

    If I can’t get their data, they ain’t getting mine.

    22
    2

You can comment anonymously. Please read the CNS Comment Policy at the top of this page.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Cayman News Service