PHILIPSBURG:— The Department of Statistics (STAT), commenced this week with the National Accounts Survey. Data-collection is underway amongst a random sample of business establishments and foundations operating on the island.
This survey is usually conducted towards the last quarter every year and runs for approximately 5 months. Its objective is to collect updated financial data from the business sector, which STAT then combines with data from other economic sectors for a full picture of developments of the St. Maarten economy in a given year.
In 2017, the survey was canceled due to the effects of hurricane Irma on the target group. As a result, this year’s questionnaire will gather data related to the fiscal years 2016 and 2017, and estimates for the current year 2018.
STAT recently concluded its Economic Census survey, which involved a full count of all actively operating businesses and foundations but did not focus on obtaining data from the Financial Statements of entities. Department Head of STAT, Makini Persaud-Hickinson said that while for some in the business community it will seem that STAT is returning relatively quickly with a survey, it is important for entities to note the difference between both activities.
The former survey has assisted the department in improving its sample-frame for the latter, where companies and institutions with 10 or more employees are automatically selected in the sample, and entities with 9 or fewer employees will be drawn on a rotational basis.
As is usually the case, the National Accounts Survey (NAS) can be completed either with the help of a STAT-interviewer or via an email form, for those who prefer to fill the questionnaire digitally. Entities may also opt to provide STAT and/or the interviewer with a copy of their annual reports & balance sheets of the applicable years in order to facilitate the process.
Eligible participants are reminded that compliance with the National Accounts Survey is required by law. STAT is bound by this same law to treat all collected data in strict confidence. Individual company data is not shared with third parties but is rather aggregated to industry levels for publication.
The STAT team looks forward to the cooperation of all relevant establishments once again. For further information, contact STAT at 549-0245/542-0652 or the NAS Project Leader, Ms. Sabrina Jno-Baptiste at
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Source: St. Martin News Network http://www.smn-news.com/st-maarten-st-martin-news/30206-stat-starts-nas.html