IMF Staff Country Reports

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

Publication Date:

October 2, 2023

Electronic Access:

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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.

Series:

Country Report No. 2023/342

Subject:

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

Frequency:

regular