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Updated: 16-June -2017
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Frequently Asked Questions

Population and Housing Census



National Economic Survey

“I have never heard of an economic survey here before. Why now?” It is true that we have not had one for sixteen years. This was not by choice, but because the necessary resources to carry out this complex activity were not always available (both in terms of skills and funding). This will be a significant step forward for Guyana, as there is a pressing need for current economic data, and we are proud to be able to place Guyana on a level with the rest of the Caribbean region and the world in terms of data availability.

“Do other countries also do this?”
Yes. Trinidad, for example, does one every year; the USA does an economic census every five years, monthly, quarterly and annual economic surveys.


“I received a questionnaire for the economic survey. Is it compulsory to report?”
Yes, once you have been selected in the sample, you must report. Any business that fails to do so, in an accurate and timely manner, is breaking the law and may be penalized.


“What law is that?”
Sub-section 1 of Section 9 of the Statistics Ordinance 1965, and the revised Bureau of Statistics Act 1992. It is a legal obligation, under this law, to provide data that has been requested by the Bureau.


“I received a questionnaire, but two or three other businesses near to mine did not. Why did I get one while they did not?”
This is a SAMPLE survey. In an economic CENSUS, all businesses receive questionnaires, but due to time and resource constraints, we cannot do a full economic census. We are therefore doing a sample survey, in which businesses are randomly selected (that is, each has an equal chance of being chosen).


“You say my information is confidential. How confidential is it?”
Your questionnaire is viewed only by a limited number of persons all operating within one department of the Bureau. These have all taken a declaration of secrecy. We are prevented by the laws of Guyana from sharing your information with ANY other agency or person. The law will apply heavy penalties to any of our employees who divulge any information. Our confidentiality rules are very strict.


“Will the information be used for taxation or investigation of my business?”
No, it will not. The Bureau is prevented by law from sharing your information with the tax authorities. Additionally, the Bureau does not deal with taxation or investigation, nor does it share your information with any agencies that do so.


“Why are you collecting this information?”
Because Guyana’s economic profile has changed significantly in the last several years, and while we all have opinions on what it looks like now, only hard data can give us the facts. International trends have affected our economy; also, some industries that used to support our economy are declining or encountering difficult times and other, newer industries are emerging. For example, the last survey was done 16 years ago, when there was not a single Internet cafe; now there are numerous cafes. New aspects of the economy must be properly accounted for to help people like you, the business owner or potential investor, make wise business decisions. We also use the data for compiling the GDP.


“What type of information will you produce?”
There are many sorts of information we can produce by processing all the businesses’ data. For example:
  national GDP
  GDP in a particular industry
  estimated number of firms in a particular industry
  where the concentration of firms in a particular industry are located,     etc.


“Who will use this information?”
First of all, information specific to your business (your sales, costs, etc) will not be given out. What will be given out is aggregated information for the sector in which you operate. The Bureau gets many, many calls and visits from persons who need information on Guyana’s economic profile. We are happy to be able to supply it when we complete the survey and the processing. Here are some of the entities that will find this very useful, and how they may use it:


  Public policy makers – to formulate data-driven programmes
  Investors, both foreign and local – to set up new or expanded     operations
  Local businessmen – to know how many competitors they have in        their particular area of business; determine how much of a particular     good or service is already produced in Guyana
  Researchers who are making analyses – to present studies on Guyana
  Students – to do assignments
  Sales managers – to design sales territories
  Marketing / sales / advertising personnel – to target proper consumer     audience and to enhance client presentations





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Guyana at a Glance



Population 746,955  (Census 2012)
Size 214,970 square km
Location Between 1o & 9o  North Latitude and 57o & 61o West Longitude
Time Zone GMT - 04:00
Currency Guyana Dollar (G$)
Per capita GDP 2015 at basic prices US$3,724.00
Nominal GDP 2015 G$653,836  million
Real GDP 2015 G$441,105  million
Inflation Rate

Dec '16 - May. '17:
           
0.7

Average Exchange Rate (Mid Rate)

Jan '17:   
G$209.14
to US $1
Feb '17:   
G$210.89
to US $1
Mar '17:   
G$213.29
to US $1
Apr '17:   
G$213.36
to US $1


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