04/29/2015 // eso (Press Release) // Narnia Ebanks // (press release)
The Economics and Statistics Office (ESO) is urging local businesses to fill out and return questionnaires for the System of National Accounts (SNA) and Balance of Payments (BOP) surveys. The survey forms were hand delivered or mailed on March 30th to April 10th and are expected to be completed by May 15th. The surveys cover local establishments in the private and public sectors, including wholesale and retail trade, accommodation services, restaurants, bars and nightclubs, insurance providers, banks, realtors and business service providers.
The surveys seek to gather data to estimate the total value of goods and services produced by the different industries in the Cayman Islands, and to measure total payments to and receipts from the rest of the world. ESO officials explained that these are used by analysts and investors in determining the economic viability of the Cayman Islands as a place to invest. They are also used to monitor the economic health of specific sectors or their contribution to economic growth in the Cayman Islands.
In view of their wide use not only by local players but also by global investors, it is critical that the survey questionnaires be filled accurately and returned to ESO. The surveys are confidential in accordance with the Statistics Law, and will be used exclusively by ESO for statistical purpose. No individual information will be released to parties outside of ESO, and survey results will be presented in aggregate form. ESO survey data are exempted from Freedom of Information.
Survey forms and other information can also be downloaded from www.eso.ky, or may be requested by contacting 949-0940. ESO survey officers can also assist entities in filling up the forms upon request.