ESO to survey business community for BOP

(CNS): The country’s statistics officials will begin collecting economic data from local businesses later this month when the Economics and Statistics Office (ESO) starts its research for the Cayman Islands’ latest Balance of Payments (BOP) and System of National Accounts (SNA) surveys. Starting on 14 March, the data collection will last over two months, specifically targeting businesses, non-profit organisations and government entities, with some 5,000 questionnaires. Devised with help from the Caribbean Technical Assistance Centre (CARTAC), the surveys are tailor-made to meet the demand for accurate statistics that will reflect the true nature of the local business climate, ESO states.

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,” said ESO Director Maria Zingapan. “Over the years, Cayman’s business community has repeatedly sought economic data so that they can plan better.”

Survey Coordinator Yvonne Newland explained that the SNA and BOP are the same used in advanced economies in the world.

The week before the survey starts ESO staff will distribute the questionnaires to organisations that then have until 13 May to return them 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 www.eso.ky. Completed forms can also be collected by ESO staff.

Meanwhile, officials at the ESO said the latest population statistic, which was compiled using data from the national census conducted in October, should be in the public domain before the end of March. The first piece of information from the nationwide count was expected by the end of 2010 but has been delayed. The report is currently waiting Cabinet notation, the ESO stated.