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| Sunday, 28 September 2003 |
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| News Business Features Editorial
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Central Bank conducts household survey The Central Bank of Sri Lanka will conduct the eighth Consumer Finances and Socio Economic Survey 2003/04 to assess socio-economic conditions in the country after a gap of seven years. The Central Bank has been conducting the survey since 1953. Its main objective is to collect comprehensive data on demographic characteristics, housing conditions, income, expenditure, consumption, savings, investment and indebtedness of households across the country. A series of other important socio-economic data including educational attainment, employment and unemployment and migration particulars of households will also be collected during the survey. Data will be collected from a representative sample of 12,000 households drawn from the urban, rural and estate sectors. The collection of data will commence from October 1 and will continue till September 30, 2004. The last two surveys conducted in 1986/87 and 1996/97 did not cover seven districts in the North and East due to the security situation. However, this survey will include the North and East, excluding the three districts of Kilinochchi, Mannar and Mullaitivu due to the non-availability of a population frame. The coverage of the other areas in the North-East would be a significant achievement towards building a reliable database on socio-economic conditions in these regions. Over a period spanning nearly five decades, the Consumer Finances and Socio Economic Survey series has evolved into a major source of socio-economic data for the country. Moreover, the concepts and definitions used throughout the series have been consistent, followed international standards and comparable between survey periods. This has proved useful when undertaking indepth time series analytical studies. The series has also provided a mechanism for meeting emerging data needs on a continuing basis. The survey data have been widely used by decisionmakers in both the public and private sectors, international organisations, researchers, journalists, social workers, students and the public. In the light of emerging international focus on data collection and dissemination and the rate of statistics in measuring and monitoring poverty levels and economic development in the form of specific indicators such as the Millennium Development Goals, the availability of a series of specific economic indicators at periodic intervals has been recognised as being of paramount importance for a country. The survey data is also used extensively for updating and revising base information on key economic statistics at the national level. These include periodic revisions of the GDP estimates in national production statistics, private consumption expenditure profiles and consumption patterns in consumer price indices. A salient feature of this survey is that disaggregated data would be available to strengthen the socio-economic database at the regional level. |
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