Compilation of EU and EMU BoP aggregates

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Presentation transcript:

Compilation of EU and EMU BoP aggregates THE CONTRACTOR IS ACTING UNDER A FRAMEWORK CONTRACT CONCLUDED WITH THE COMMISSION

Content EU requirements for BOP – Vademecum EMU requirements – the Guideline Harmonisation of sources and methods or outputs??

EU requirements Vademecum sets out detailed requirements http://ec.europa.eu/eurostat/web/balance-of-payments/methodology Focus on quarterly and annual breakdowns Current account and FDI Partner country breakdowns in order to compile EU aggregates

EMU requirements Monthly and quarterly BOP and quarterly IIP https://www.ecb.europa.eu/stats/external/balance/html/index.en.html Monetary presentation of euro area BOP links developments in the broad money supply aggregate M3 to the cross-border transactions of the money-holding sector in the euro area. Shows how financial and non-financial transactions of resident non-MFIs with non-residents of the euro area affect monetary conditions, as these transactions mirror the changes in the net external assets of the MFI sector, which is one of the components of the M3

Harmonisation Compilation of EU aggregates reveals discrepancies. In theory Intra-EU exports = Intra-EU imports http://ec.europa.eu/eurostat/statistics-explained/index.php/International_trade_statistics_-_background#Asymmetries EU studies into asymmetries at trade in goods and current account level Bilateral analysis of particular problems