Local Businesses Urged To Support Economic Survey

The Statistics department has launched a survey of economic activity in Montserrat.

The department is calling on businesses to support this process in order for it to compile the estimates of the island’s gross domestic product or GDP.

GDP measures the market value of goods and services produced by a particular economy over the course of a calendar year.

Businesses are required to complete the required form and submit to the department of statistics by June1, 2023.

In order to complete the estimate of GDP, a range of local businesses are surveyed.

The data provided allows the statistics department to compute an overall GDP figure, to measure the contribution of each sector to the GDP and to measure the extent to which economic has increased or declined during the reporting period.

As the data for this survey is in law, it is an offence to refuse to complete the survey form, which should be sent in By June 1, latest.

The department says it is willing to assist anyone experiencing difficulty completing the form.

Under the law, the department of Statistics is bound to keep all information collected in the strictest confidence. It cannot be shared with any other government department or agency.

The department also cannot publish any information in a form that allows individual enterprise data to be readily identified. All data aggregated across the sectors further ensure that individual information is not disclosed.