PHILIPSBURG–The Department of Statistics STAT commenced the National Accounts Survey this week. Data-collection is underway amongst a random sample of business establishments and foundations operating in St. Maarten.
This survey is usually conducted towards the last quarter of every year and runs for approximately five 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.
The survey was cancelled in 2017 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 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 financial statements.
STAT Department Head 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 the two 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 nine or fewer employees will be drawn on a rotational basis,” Persaud explained.
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 in the questionnaire digitally.
An entity may also opt to provide STAT and/or the interviewer with a copy of its annual reports and balance sheets of the applicable years to facilitate the process.
Eligible participants are reminded that compliance with the NAS is required by law. STAT is bound by this same law to treat all collected data in strict confidence. Individual company data will not be shared with third parties, but is rather aggregated to industry levels for publication.
The STAT team said it is looking forward to the cooperation of all relevant establishments once again.
For further information, contact STAT at tel. 549-0245/0652 or NAS Project Leader Sabrina Jno-Baptiste at
Sabrina.Jno-Baptiste@sintmaartengov.org.
Source: The Daily Herald https://www.thedailyherald.sx/islands/81247-department-of-statistics-starts-its-national-accounts-survey
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