Role of financial system in economic development of a country. Economic development depends on number of factors. Statistics is a branch of applied mathematics. The preparation of federal and provincial government budgets mainly depends upon statistics because it helps in estimating the expected expenditures and revenue from different sources. Little regulation has caused the acquisition of housing characterised by non-existent public infrastructure, unsafe dwellings and overcrowding. But for decision making purposes, so much precision is not essential; the decision may be made on the basis of approximation, know as statistics. We therefore need a multidimensional approach to examine issues of vulnerability, cognizant of the fact that improved resilience of the community level leads to better allocation of public resources. In plotting socioeconomic variables, a national land-use data layer serves as the primary input in this instance. Many are now recognizing that statistics plays a major role in shaping and providing scientific information that is useful in almost every aspect of human life. These same persons then become further entrenched in their powerlessness and exclusion, reinforcing poverty and undermining development.It is clear therefore that vulnerability is in part socially produced. It is this problem, as persons seek better fortunes, which drives urbanisation leading to increase vulnerability. As a primary input, such data includes the names, locations and sizes of population centres retrieved from national census data. Statistical methods are commonly used for analyzing experiments results, and testing their significance in biology, physics, chemistry, mathematics, meteorology, research, chambers of commerce, sociology, business, public administration, communications and information technology, etc.Astronomy is one of the oldest branches of statistical study; it deals with the measurement of distance, and sizes, masses and densities of heavenly bodies by means of observations. Association of Caribbean States © 2017 Economic development of all countries of the world. As the historical record shows, the developed countries of the world broke the vicious cycle of poverty by industrializing, rather than focusing on agricultural or the production of national resources. Tel: (868) 622 9575 | Fax: (868) 622 1653“Promoting the sustainable development of the Greater Caribbean”Lifting person in developing countries out of poverty and improving the stance of the country itself has long been a challenge faced by governments, with the Greater Caribbean being no exception. Bankers use statistical approaches based on probability to estimate the number of deposits and their claims for a certain day.Statistics is essential to a country. Now we shall discuss some important fields in which statistics is commonly applied.Statistics plays an important role in business. Industrialization plays a vital role in the economic development of underdeveloped countries. Regionally, despite increasing urbanisation, a large share of the Caribbean’s population live in what can be considered rural areas, out of reach of the policies designed to reduce poverty, and removed from employment opportunities. It then results that disaster risk is disproportionally concentred in lower-income households and among traditionally marginalised groups such as women, children and the disabled. Inequality plays an important role in evaluating development statistics. The relationship between supply and demand is studied by statistical methods; imports and exports, inflation rates, and per capita income are problems which require a good knowledge of statistics.Statistics plays a central role in almost all natural and social sciences. Statistics helps in determining the existing position of per capita income, unemployment, population growth rates, housing, schooling medical facilities, etc., in a country.Now statistics holds a central position in almost every field, including industry, commerce, trade, physics, chemistry, economics, mathematics, biology, botany, psychology, astronomy, etc., so the application of statistics is very wide. Today we examine the role of geography and the use of statistics in the thrust towards development outcomes.We are living in a global information society where the amount of information and its flow to society is increasing.

National income accounts are multipurpose indicators for economists and administrators, and statistical methods are used to prepare these accounts. Businessmen can make correct decisions about the location of business, marketing of the products, financial resources, etc. Resilience steps in here as an important component of response planning as it refers to the capacity of a country’s economy to absorb losses and recover. This can happen only when there is a facility for savings. Taking into account the above criteria, vulnerability therefore is not merely a function of hazard events and the physical space and but rather its intersection with other social and economic variables.Aside from locating and mapping physical vulnerability, geospatial data must then be added to other socioeconomic and demographic data so as to facilitate informed decision-making among policy makers. An auditor determines the sample size to be audited on the basis of error.Statistics plays a vital role in almost all the natural and social sciences. Technology for economic development of any country is an important factor. The NABARD was formed to increase the development rate of country for which it did exercise all its functions even regulated and exercised supervisions.

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