Monday, October 22, 2018

Data collection for Economic Census of Puerto Rico begins

By on June 6, 2018

SAN JUAN – The 2017 Economic Census is currently collecting data for approximately 3.7 million business locations. With the June 12 deadline approaching, U.S. businesses nationwide, including those in U.S. territories, are asked to report their 2017 year-end numbers for each business location, including sales or revenue, employment, payroll and industry-specific information.

Conducted once every five years, this is the first time the Census Bureau has conducted the survey almost entirely online. Small companies in Puerto Rico have a Spanish-language paper reporting option available.

The statistics collected about businesses are essential to understanding the local economy. They serve as the foundation for the measurement of Puerto Rico’s businesses and their economic impact. Businesses covering most industries and all geographic areas of the island have received surveys.

Response is required by law, and the information provided may be seen only by people sworn to uphold the confidentiality of Census Bureau information and may be used only for statistical purposes. Copies retained in respondents’ files are immune from legal process.

The Statistics Institute of Puerto Rico (Institute), the local representative and coordinator of the Census Bureau in Puerto Rico, urged business owners Wednesday to complete the questionnaire online, “as soon as possible, to ensure timely compliance, as required by federal law.”

“The collaboration of all companies with this Census is extremely important because it is expected that this is the first Economic Census that is used for purposes of preparing the statistics of the gross product of the economy of Puerto Rico,” Dr. Mario Marazzi-Santiago, executive director of the institute, said in a release.

The key statistics produced for the Economic Census include: Number of Establishments; Value of Sales, Shipments, Receipts, or Revenue; Primary Business Activity; Number of Employees; Annual Payroll; First Quarter Payroll; and industry-specific statistics.

Data products include industries across 18 industrial sectors classified using the North American Industry Classification System. Geographic Area Series reports containing general statistics will be produced for the Territory, Planning Regions, Metro/Micro Areas (MSAs), Combined Statistical Areas (CSAs), and Municipios in Puerto Rico. Additionally, goods and services products will be released for the first time on the new North American Product Classification System (NAPCS) basis.

Data for Puerto Rico will be released in December 2020.

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