Guyana’s Bureau of Statistics is set to commence a National Economic Survey starting from Wednesday, October 11, 2023. This survey is projected to span over two months, with its primary objective being to extract detailed data from businesses dispersed across all sectors and regions within the borders of Guyana.
For the inaugural phase of the survey, dedicated Enumerators from the Bureau will embark on a nationwide tour, visiting each business entity in order to acquire foundational details such as the establishment’s name, its ownership dynamics, and a metric indicating its size. Following this extensive data collection, a representative list of all businesses will be drawn up.
According to the agency, this exhaustive list then becomes the cornerstone for the next pivotal phase. A sample, representing every industry and region, will be extracted from this list. Enumerators, during this secondary phase, will revisit the field to distribute and supervise the completion of the Economic questionnaire to this selective sample.
The Bureau stated, “Data collected from this survey will enable a holistic understanding of the country’s economic landscape, thereby allowing the Bureau to create more accurate and informed economic models. Vita data will be collected on business performance, outputs and intermediate costs, which will be instrumental in enhancing the computation of Guyana’s Gross Domestic Product (GDP).”
This undertaking is not solely for the benefit of the Bureau or governmental agencies. The data and statistical inferences drawn from the National Economic Survey are of significance for both the business community and the general populace. The data, according to the Bureau, will be pivotal in sculpting governmental policies that are finely tuned to the aspirations and necessities of the citizenry, inevitably uplifting the overall quality of life.
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“Businesses will be better positioned to operate in a more transparent and data-driven landscape, fostering growth, investment, and market expansion. Accurate economic data will empower these businesses to make strategic hiring decisions, contributing to increased employment opportunities,” the Bureau stated.
The Bureau’s primary function is the collection, compilation, analysis, and broadcast of socio-economic and other statistical data. This data amalgamation process encompasses governmental departments, private entities, and the general public, majorly via surveys.
