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A CONCERTED APPROACH TO IMPROVING THE MEASUREMENT OF INTERNATIONAL TRADE IN SERVICES STATISTICS IN SAINT LUCIA RICHARD K. HARRIS.

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Presentation on theme: "A CONCERTED APPROACH TO IMPROVING THE MEASUREMENT OF INTERNATIONAL TRADE IN SERVICES STATISTICS IN SAINT LUCIA RICHARD K. HARRIS."— Presentation transcript:

1 A CONCERTED APPROACH TO IMPROVING THE MEASUREMENT OF INTERNATIONAL TRADE IN SERVICES STATISTICS IN SAINT LUCIA RICHARD K. HARRIS

2 CONTENT ROLE OF THE CENTRAL STATISTICAL OFFICE SHORT TERM STRATEGIES
CONSTRAINTS AND CHALLENGES CURRENT STATUS

3 ROLE OF THE CENTRAL STATISTICAL OFFICE
COVERAGE AND DATA GAPS Promotion of the importance compiling international trade in services statistics (and statistics in general), through a sustained marketing campaign Education of data providers and users in the definitions, concepts and estimation methods related to trade in services statistics; improved understanding of the estimates will help improve response rates and the overall use and appreciation of trade in services statistics Registration of household unincorporated enterprises producing market services; integration into the existing business register STRATEGIC ALLIANCES MOUs and administrative data sharing agreements with the relevant public agencies, including the Inland Revenue Department, the VAT unit, the Ministry of Commerce, the National Insurance Corporation, the Customs and Excise Department, the Ministry of Tourism, the Cultural Development Foundation, the Immigration Department, Invest Saint Lucia, the Ministry of Finance (the Insurance Registrar) and the Registrar of Companies Partnering with the Coalition of Services, the Chamber of Commerce and other professional and business associations, with regards to increased registration of service providers and data collection initiatives

4 ROLE OF THE CENTRAL STATISTICAL OFFICE
INTEGRATION WITH NATIONAL ACCOUNTS Integrating the activities of estimating the domestic production of services and the international trade in services into the same work program Ensure consistency in definitions and methods; reduce redundancy of effort and improve efficiency CENTRAL BANK PARTNERSHIP Modification of existing data collection templates to include columns to capture partner countries Employ the diplomatic influence, regulative authority and respect of the Eastern Caribbean Central Bank (ECCB) with regards to specific data collection challenges; international airline companies, financial enterprises, embassies, other multinational corporations

5 SHORT TERM STRATEGIES EXTENDED BALANCE OF PAYMENTS IN SERVICES (EBOPS)
Make the existing BOP product classification consistent with the recommended EBOPS/CARICOM-specific TIS product classification FOREIGN AFFILIATES STATISTICS Use existing BR and administrative records (especially from Ministry of Commerce) to identify foreign affiliated establishments Using the prescribed templates, compile inward FATS from the National Accounts questionnaires completed by the identified foreign affiliated establishments; if necessary, adopt the same grossing procedures employed in the National Accounts compilation

6 SHORT TERM STRATEGIES TOTAL TRADE IN SERVICES BY TRADING PARTNER
Modification of existing ECCB data collection templates to include columns to capture partner countries MODES OF SUPPLY: CROSS BORDER, CONSUMPTION ABROAD, COMMERCIAL PRESENCE, PRESENCE OF NATURAL PERSONS Use Customs Procedure Codes to make required adjustments to the trade data; goods for processing, manufacturing services, etc. Review Household Budget Survey data to identify COICOP categories related to consumption of residents abroad; work with relevant Tourism and Immigration authorities to improve and augment the details of visitor related expenditure, especially with regards to cultural, recreational, personal and other related services Work with Invest Saint Lucia, Eastern Caribbean Securities Exchange and the Ministries of Commerce and Finance to improve the coverage of foreign direct investment enterprises. Continue work Immigration and Tourism authorities to modify Embarkation/Disembarkation (ED) forms to capture the industrial activities of business travellers; work with Inland Revenue Department to secure data related to withholding tax payments made by residential and foreign entertainers and other service providers who trade internationally.

7 CONSTRAINTS AND CHALLENGES
At least 2 additional officers assigned to the National Accounts Section; one statistician, one statistical assistant Increased demand for other kinds of economic and social statistics Expanded National Accounts compilation; QGDP, annual SUT, Current Accounts Other resource constraints; training, finance Confidentiality clauses in existing public legislation; immigration, VAT, Inland Revenue, NIC Insular/isolated planning and lack of political will Respondent burden

8 CURRENT STATUS Updating of the BR
MOUs with IRD and NIC; working relationships with other relevant public and private agencies Compilation of a new SUT Introduction of a new BPM6 and EBOPS compliant balance of payments series Revised GDP Expenditure Series

9 Thank you


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