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

October 2, 2023

Preview Citation

Format: Chicago

Cayman Islands: Technical Assistance Report-Improving Estimates of Gross Domestic Product, (USA: International Monetary Fund, 2023) accessed December 22, 2024

Summary

A technical assistance mission to the Economics and Statistics Office (ESO) of the Cayman Islands supported improved methods for compiling Gross Domestic Product (GDP) by economic activity and by expenditure components and assessed the feasibility of compiling institutional sector accounts (ISA) for the Cayman Islands. Given the importance of tourism for the economy, guidance was provided on how to develop a Tourism Satellite Account (TSA). A review of the data sources and methods used to compile GDP at constant prices was undertaken and improvements to deflators in the construction and service areas were recommended. These data enhancements will improve the understanding of the Cayman Islands economy and will also assist the Cayman Islands in meeting the IMF Special Data Dissemination Standards requirements.

Subject: Deflation, Economic sectors, National accounts, Prices, Public financial management (PFM), Tourism, Treasury Single Account

Keywords: Authorities of the Economics and Statistics Office, Caribbean, Deflation, GDP, GDP at constant prices, GDP-E methodology, IMF statistics, Institutional Sector accounts, Staff team of the International Monetary Fund, Tourism, Tourism satellite account, Tourism., Trade data, Treasury Single Account

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/342
Stock No:

1CYMEA2023001
ISBN:

9798400255557
ISSN:

1934-7685

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