Front Matter

Front Matter

Author(s):
International Monetary Fund. Statistics Dept.
Published Date:
June 2014
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IMF COMMITTEE ON BALANCE OF PAYMENTS STATISTICS 2013 ANNUAL REPORT

June 5, 2014

Executive Summary

The 2013 Annual Report of the IMF Committee on Balance of Payments Statistics (Committee) provides an overview of recent trends and discrepancies in global balance of payments statistics, and summarizes the Committee’s work program during 2013 and the issues the Committee plans to address in the coming year.

During 2013, the IMF Statistics Department (STA), in consultation with the Committee, continued work on implementing the methodology of the Balance of Payments and International Investment Position Manual, sixth edition (BPM6); incorporated enhancements to data that respond to the recommendations of the G20/IMFC Data Gaps Initiative (DGI); reviewed STA’s work on reserve-related initiatives, including the work on defining foreign currency intervention; and approved the Data Structure Definition for external sector statistics, to facilitate data and metadata transmission among economies and international agencies. STA publicly posted a complete draft of the BPM6 Compilation Guide (BPM6 CG).

By end–December 2013, 184 economies reported balance of payments data, of which 36 economies reported on a BPM6 basis. The number of economies reporting International Investment Position data rose to 137, of which 82 reported quarterly data.

In 2014, the top priorities of the Committee and STA will remain the implementation of BPM6 and the CPIS data enhancements, and a further expansion in the number of countries reporting annual or quarterly IIP. Top priority will also be given to the work on cross-border financial interconnectedness, including identification of data gaps. Provided continued high level support is secured, work on finalizing a definition of foreign exchange market intervention would proceed in 2014.

Approved By

Louis Marc Ducharme

Prepared by Ralph Kozlow, Ethan Weisman, Paul Austin, and Cornelia Hammer of Statistics Department

Glossary

2008 SNA

2008 System of National Accounts

AEG

Advisory Expert Group

BIS

Bank for International Settlements

BOPCOM

IMF Committee on Balance of Payments Statistics

BOPSY

Balance of Payments Statistics Yearbook

BPM5

Balance of Payments Manual, fifth edition

BPM6

Balance of Payments and International Investment Position Manual, sixth edition

CDIS

Coordinated Direct Investment Survey

CG

BPM6 Compilation Guide

COFER

Currency Composition of Foreign Exchange Reserves

CPIS

Coordinated Portfolio Investment Survey

DGI

Data Gaps Initiative

DOTS

Direction of Trade Statistics

DSD

Data Structure Definition

ECB

European Central Bank

EDDI

Enhanced Data Dissemination Initiative

EDS

External Debt Statistics

EU

European Union

FDI

Foreign Direct Investment

G-20

Group of twenty economies

HSS

Handbook on Securities Statistics

IAG

Inter-Agency Group on Economic and Financial Statistics

IBS

International Banking Statistics

IFS

International Financial Statistics

IIP

International Investment Position

IMF

International Monetary Fund

IMFC

International Monetary and Finance Committee

INFER

Instrument Composition of Transactions in Foreign Exchange Reserves

ITRS

International Transactions Reporting System

MSITS

Manual on Statistics of International Trade in Services

OECD

Organization for Economic Cooperation and Development

PGI

Principal Global Indicators

RESTEG

Reserve Assets Technical Expert Group

SDDS

IMF’s Special Data Dissemination Standard

SDMX

Statistical Data and Metadata Exchange

SEFER

Survey of Securities Held as Foreign Exchange Reserves

STA

IMF Statistics Department

TFFS

Task Force on Finance Statistics

TFSITS

Task Force on Statistics of International Trade in Services

UNCTAD

United Nations Conference on Trade and Development

WGIIS

OECD Working Group on International Investment Statistics

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