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Item 7-a Reconciling merchandise trade and BOP data 6th OECD International trade statistics Experts meeting 1/10 Summary 1. Differences between trade statistics.

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Presentation on theme: "Item 7-a Reconciling merchandise trade and BOP data 6th OECD International trade statistics Experts meeting 1/10 Summary 1. Differences between trade statistics."— Presentation transcript:

1 Item 7-a Reconciling merchandise trade and BOP data 6th OECD International trade statistics Experts meeting 1/10 Summary 1. Differences between trade statistics and BOP data 2. Methodological/Conceptual differences 3. Practice of CIF/FOB and other adjustments by Member States 4. How to improve the coherence between Trade and BOP statistics

2 Item 7-a Reconciling merchandise trade and BOP data 6th OECD International trade statistics Experts meeting 2/10 1.Differences between External Trade Statistics and Balance of Payments

3 Item 7-a Reconciling merchandise trade and BOP data 6th OECD International trade statistics Experts meeting 3/10 1.Differences between External Trade Statistics and Balance of Payments Extra-EU15 trade in goods (billion Euro) BOPFTSBOP - FTS Year 2002 Exports Imports Net balance49841 Year 2003 Exports Imports Net balance341222

4 Item 7-a Reconciling merchandise trade and BOP data 6th OECD International trade statistics Experts meeting 4/10 2.Methodological/Conceptual differences 1 - Difference of Coverage - Principle of Recording Movements Across Border (FTS) Change of ownership (BOP) - Definition of the boundary : Customs territory Economic territory - General trade Special Trade

5 Item 7-a Reconciling merchandise trade and BOP data 6th OECD International trade statistics Experts meeting 5/10 2. Methodological/Conceptual differences 2 - Treatment of Special Transactions or Types of good : - Generally: same treatment in FTS and BOP - Some exceptions: Repairs, Goods procured in ports,... 3 – Valuation - CIF/FOB Valuation of goods (Imports)

6 3. CIF/FOB Ratio used in BOP 3. CIF/FOB Ratio used in BOP Intra EU15Extra EU15World ATYear 19963,1%4,9%3,6% Year 19973,1%4,6%3,5% Year 19983,1%4,1%3,4% DEYear 20000,6%3,6%2,0% Year 20010,6%3,6%1,9% Year 20020,6%3,5%1,9% DKYear 19993,7% Year 20003,7% Year 20013,7% ESYear 19994,5% Year 20004,5% Year 20014,5% FIYear %7.20%4.70% Year %6.60%4.70% Year %6.20%4.70% FRYear 20011,0%3,5%2,0% Year 20021,0%3,5%2,0% IRYear 20004,8% Year 20012,0%4,8%3,0% Year 20022,0%4,8%3,0% ITYear 20001,7%6,1%3,6% Year 20011,5%6,2%3,5% Year 20021,3%6,4%3,5% NLYear 19970,8%10,3%4,4% Year 19980,7%7,4%3,6% Year 19990,6%6,9%3,5% Year 20000,6%6,3%3,4% PTYear 19994,7% Year 20004,7% Year 20014,7% SEYear 19991,4% Year 20001,4% Year 20011,4% UKYear 19991,9%3,5%2,6% Year 20002,0%3,1%2,6% Year 20012,1%3,2%2,6% Item 7-a Reconciling merchandise trade and BOP data

7 6th OECD International trade statistics Experts meeting 7/10 3. CIF/FOB estimation methodology ATCIF/FOB adjustment is calculated by estimating freight costs using settlements. This calculation takes in account the partner country. BENo CIF/FOB adjustment, but a methodology is under construction. DEApplication of a CIF/FOB ratio, different for different partners and modes of transport. DKApplication of a CIF/FOB ratio of 3.7% for all partners. GRNo CIF/FOB adjustment. ESApplication of a CIF/FOB ratio of 4.5% for all partners. FIApplication of CIF/FOB ratios. Estimation takes in account the most important partner countries, the mode of transport (sea and air), and the type of the commodity. FRApplication of CIF/FOB ratios estimated using a survey about transportation costs for export and import companies. Sample chosen from customs reports about well identified transactions. The questionnaire requires: the transportation mode, the nationality of the carrier, the country of origin or destination, the terms of delivery. IEApplication of a CIF/FOB ratio, different depending on whether the partner is a member of the EU (2%) or not (4.8%). ITApplication of a CIF/FOB ratio, different for different partners, 32 areas or countries are distinguished. LUApplication of CIF/FOB ratios, different by specific regions and main modes of transport NLApplication of a CIF/FOB ratio, different for different partners, depending on distance and also taking into account economies of scale in transport, adjusted monthly to bring the evolution of the overall CIF/FOB margin in line with the evolution of the gross turnover of the freight transportation flows. PTApplication of a CIF/FOB ratio of 4.67% for all partners. SECIF/FOB adjustment is estimated using a model for sea transportation. The CIF component is deducted from goods imports and recorded in sea transportation, as a debit. UKCIF/FOB adjustment is calculated by estimation of freight services for imports arriving by sea, rail and air.

8 Item 7-a Reconciling merchandise trade and BOP data 6th OECD International trade statistics Experts meeting 8/10 3. CIF/FOB estimation methodology BGApplication of a CIF/FOB ratio of 8% for all partners. For some imports FOB values are available. CYApplication of a CIF/FOB ratio of 10% for all partners. CZBOP compilers respond that the FTS Imports are recorded in FOB prices, which means that there is no need of a CIF/FOB adjustment to be produced. EEFor the CIF/FOB adjustment methodology of Estonia relies on the application of a CIF/FOB ratio of 5% for all partners. From 2003 onwards, different CIF/FOB ratios are calculated for each partner country. HUApplication of a CIF/FOB ratio of 2.66% for all partners. LTApplication of a CIF/FOB ratio of 5.6% for all partners LVApplication of CIF/FOB ratios, different for each partner country and mode of transport. MTApplication of a CIF/FOB ratio of 10% for all partners. The unique CIF/FOB ratio is applied only to a minor part of imports valued at CIF prices. For a substantial part of imports the actual FOB value is available. PLApplication of a CIF/FOB ratio of 2.5% for all partners. ROApplication of a CIF/FOB ratio of 7.7% for all partners. SIApplication of a CIF/FOB ratio of 3.93% for all partners. SKBOP compilers declare that, in customs declarations, imported goods are valued on both FOB and CIF basis. They dont produce any adjustment on the source data coming from Slovak Statistical Office. TRApplication of a CIF/FOB ratio of 6% for all partners

9 3. Other adjustments 1. Non response/below threshold; 2. Sea products; 3. Goods dispatched through postal or courier services; 4. Goods for processing; 5. Repairs of goods; 6. Goods not crossing the border; 7. Goods not changing ownership; 8. Returned goods; 9. Goods traded on government account; 10. Exports/Imports by private individuals; 11. Transaction in goods in free areas; 12. Goods procured in ports by carriers; 13. Non monetary gold; 14. Electricity, gas and water; 15. Additions and alterations to ships and aircrafts; 16. Books and periodicals; 17. Corrections for timing. Import/Export + added - deducted from FTS AT +/+ BE +/+ -/- +/+ DE /++/+ /++/+ -/- /-+/+ -/- +/ DK +/+ -/- +/+ GR ES +/+ +/ FI /+ +/+ /+ FR +/+ IE IT +/+ LU -/-+/+-/- +/+ NL -/-+/+ -/- +/+ PT +/+ +/ +/+ SE +/+ UK -/- /+ -/- +/+ BG CY +/+ +/ CZ EE /+ +/+ HU /+ +/+ LT LV +/+ +/ /++/+ +/+/+ MT +/+ -/- +/+ +/ PL +/+ RO SI +/+ SK TR /+ -/-

10 Item 7-a Reconciling merchandise trade and BOP data 6th OECD International trade statistics Experts meeting 10/10 4. How to improve the coherence between FTS and BOP? - FTS : estimation of FOB/FOB trade balance - BOP : - improve harmonization of other adjustments - prevent additional deviations in the future international recommendations (merchanting, processing…) - BOP and FTS : - improve estimation of CIF/FOB adjustment ratio - check treatment of specific transactions - common task force between trade statisticians and BOP compilers


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