Sources and methods used to compile the External Sector accounts THE CONTRACTOR IS ACTING UNDER A FRAMEWORK CONTRACT CONCLUDED WITH THE COMMISSION
Introduction Surveys International Transactions Reporting System (ITRS) Administrative sources Data models Country practices evolved according to institutional responsibilities
Trade in Goods International Merchandise Trade Statistics based on customs declarations – extra-EU trade Intrastat – intra-EU trade Some surveys - merchanting
Trade in services Surveys – business and individuals ITRS Services specific surveys More general surveys Sampling Border surveys ITRS Supplemented by administrative data (government services, freight) Strengths / weaknesses?
Primary Income - CoE Surveys of employment agencies, Surveys of businesses, ITRS Centralised Securities Database (CSDB), Border surveys, Household surveys Administrative records (social security) Ministry of Finance
Primary Income – investment income Integrated survey approach to collect flows (FA), levels (IIP) and income. Opening position Transactions Other changes (price, currency, other) Closing position Interest / Income Estimation or imputation of reinvested earnings Strengths / weaknesses?
Secondary Income Surveys ITRS Aid and charitable organisations Insurance admin data on premiums and claims Household surveys (remittances) ITRS
Financial account ITRS Integrated investment surveys Money and Banking Statistics to derive bank’s transactions in assets and liabilities based on balance sheet changes Surveys of securities dealers and custodians. Centralised Securities Database (CSDB)
International Investment Position Integrated investment surveys Money and Banking Statistics Surveys of securities dealers and custodians Centralised Securities Database (CSDB) IMF Coordinated Direct Investment Survey (CDIS). Valuation issues (market or book value?) IMF Coordinated Portfolio Investment Survey (CPIS) to estimate resident liabilities.