News

British Virgin Islands to Begin Survey to Determine Economic Performance

By: Caribbean Journal Staff - March 16, 2012 - 10:48 am

By the Caribbean Journal staff

The British Virgin Islands’ Development Planning Unit will begin conducting its annual National Accounts Survey to determine the economic performance of various sectors in the economy on March 20.

The survey is focused on obtaining 2010 and 2011 accounting information from a random sample of businesses in the territory, and contributes to the calculation of Gross Domestic Product.

“The National Accounts Survey is needed to produce statistics which represent a direct measure of the economic performance of the various sectors of the VI’s economy,” said Raymond Phillips, director of the Development Planning Unit.

The survey, which is conducted through a questionnaire, captures information on income, expenditure, inventory, fixed assets and financing.

The British Virgin Islands conducted its first NAS in 2008.

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