Cayman Islands: Technical Assistance Report-Improving Estimates of Gross Domestic Product

International Monetary Fund

No 2023/342, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Assistance report on Cayman Islands focuses on improving estimates of gross domestic product (GDP). One activity flagged by the Economics and Statistics Office (ESO) as an area for improvement is the measurement of construction value added. The ESO has expressed an interest in developing ISAs for the Cayman Islands. The detail at which gross domestic product by production approach (GDP-P) and gross domestic product by income approach are compiled mean that transforming the data to an institutional sector basis is feasible. For GDP-P, the ESO conduct an Annual National Accounts Survey, which is the main data source for compiling the production measure estimates. The survey forms strike the right balance in terms of the number of questions and detail required for national accounts, without being too onerous on survey respondents. Given the importance of tourism in the Cayman Islands, the ESO is keen to develop a Tourism Satellite Account for the country.

Keywords: GDP; GDP at constant prices; Institutional Sector accounts; Tourism.; staff team of the International Monetary Fund; IMF statistics; GDP-E methodology; trade data; tourism satellite account; authorities of the Economics and Statistics Office; Treasury Single Account; Tourism; Deflation; Caribbean (search for similar items in EconPapers)
Pages: 20
Date: 2023-10-02
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