Economic Statistics Division
Role of Division
The Trade Section is responsible for the compilation of international trade statistics according to internationally - accepted standards. These statistics are prepared according to both the General and Special systems of compilation, and are available in both Harmonised System (HS) and Standard International Trade Classification (SITC) order.
The National Accounts section is responsible for the compilation of Gross Domestic Product at both Current and Constant Prices. GDP at Constant Prices is compiled quarterly and annually and is used for internal analysis. GDP at Current Prices is compiled annually using both the production and expenditure approaches, and is published in the Barbados Economic and Social Report. GDP of the economy is tabulated by combining the contribution of each of the twelve industries of the economy.
The section is managed by a Senior Statistician and is assisted by three Statisticians. The Statisticians are each responsible for compiling GDP estimates for four industries of the economy. The section also consists of three Statistical Assistants and three Clerical Officers.
The Division produces a number of publications:
- A monthly Trade Bulletin.
- Electronic or printed ad hoc requests.
- An annual Trade Report.
The Division also responds to requests for international merchandise trade statistics.
Tasks of Division
- The collection of “raw” trade data from the Customs Department.
- The collection of petroleum trade data from the agencies importing and exporting petroleum and petroleum-related products.
- The collection of data on sugar shipments.
- The production of a monthly Trade Bulletin.
- The provision of international trade data to users.
- Survey of Employment Earnings and Hours - This is conducted quarterly among a sample of establishments, from all the major sectors.
- Collection of data from various data sources within each sector of the economy. These sectors are:
- Wholesale and Retail Trade
- Non-Sugar Agriculture
- Mining and Quarrying
- Transport, Storage & Communications
- Finance & Business
- Electricity, Gas & Water
- General Services
- The distribution, collection and analysis of the Annual Survey of National Accounts estimates.
- Provision of data on Constant and Current Price estimates to various users.
- Provision of National Accounts estimates tables to other publications of the department.
- Provision of Current Prices estimates, Percentages Change tables, and special industry breakdowns to the Ministry of Economic Affairs to be published in the annual Barbados Economic and Social Report.