Balance of Payments Compilation Guide

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Back Matter

Author(s):
International Monetary Fund
Published Date:
March 1995
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    Appendix I. Balance of Payments Compiler Survey on Data Sources and Methods

    Introduction

    1195. This appendix presents the results of a BOP compiler survey, which was conducted in 1991, on data sources and methods.1 Compilers in 58 countries responded to the survey and provided a considerable amount of information, without which the Guide could not have been produced. Table 1 (on page 242) shows the countries for which a response was received. In some cases, responses were not completed fully or contained conflicting information; therefore, it was necessary to use some judgement in compiling the results of the survey.

    Table 1.Countries Reporting in the BOP Compiler Survey
    Country GroupNumberCountries
    Industrial countries15Australia, Belgium, Canada, Denmark, Finland, Germany, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Sweden, the U.K., and the U.S.A.
    Africa14Benin, Burundi, Congo, Gabon, Liberia, Mali, Mauritius, Nigeria, Senegal, Sierra Leone, South Africa, Sudan, Swaziland, and Tunisia.
    Asia n.i.e.13Bangladesh, China, Hong Kong, Indonesia, Korea, Malaysia, Pakistan, Philippines, Singapore, Solomon Islands, Sri Lanka, Thailand, and Tonga.
    Western Hemisphere11Bahamas, Costa Rica, Dominica, Ecuador, El Salvador, Guatemala, Haiti, Jamaica, Peru, Trinidad and Tobago, and Venezuela.
    Other countries5Bahrain, Egypt, Malta, Saudi Arabia, and Turkey.

    1196. Of the compilers reporting, 71 percent were from central banks or monetary authorities; 22 percent were from national statistical offices; and 7 percent were from other agencies. A breakdown of agency types by region is shown in table 2 on page 242.

    Table 2.Types of Agencies Reporting in Survey
    Types of AgencyIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    Central Bank811711441
    Statistical agency66113
    Other134
    Total15141311558

    1197. Table 3 (on page 243) provides a description of the data sources referred to in the survey and in this appendix. These sources include international trade statistics (ITS), the international transactions reporting system (ITRS), enterprise surveys (ES), official sources n.i.e., household sector collections, and partner country sources (including international organizations).

    Table 3.Classification of Data Sources
    SourceDescription
    International trade statistics (ITS)ITS measure the quantities and values of goods that add to or subtract from a nation’s stock of goods as a result of movement into or out of a country. These data are compiled from forms submitted (by exporters, importers, or their agents) to customs officials or directly to the ITS compiler.
    International transactions reporting system (ITRS)An ITRS measures individual BOP cash transactions (passing through the domestic banks and foreign bank accounts of enterprises) and noncash transactions and stock positions. Statistics are compiled from forms submitted to domestic banks and from forms submitted by enterprises to compilers.
    Enterprise surveys (ES)ES collect data on BOP activity from enterprises. In comparison with an ITRS, ES collect aggregate enterprise data rather than individual transactions data.
    Collections from persons and householdsThese collections obtain information from individuals and households (for example, migration statistics and surveys of travelers).
    Official sources n.i.e.Official sources n.i.e. cover official sources other than those mentioned elsewhere in this table and include (a) sources that measure activities of the official sector and (b) sources that are by-products of administrative systems.
    Partner country and international organizationsThese sources cover data available either from foreign government agencies or international organizations.

    1198. Table 4 (on page 243) shows the incidence of data sources used by compilers. Compilers sometimes reported sources not actually used in BOP compilation; these sources were excluded from the analysis. Table 4 shows that compilers in all of the countries responding to the survey reported using official sources; compilers in 88 percent of the countries responding use ITS and/or ES; compilers in 84 percent of the countries use an ITRS; and compilers in 62 percent of the countries use household collections and/or data from partner countries to compile their BOP accounts. A more detailed analysis of the use of each of these sources is given in subsequent tables.

    Table 4.Compiler Survey—Incidence of Sources Used
    Type of SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITS1412129451
    ITRS12111110549
    ES1512119451
    Official sources n.i.e.15141311558
    Household collections9689436
    Partner country sources71169336

    1199. Table 5 (on page 243) shows a cross-classification of sources by the primary BOP classifications in which the sources are used. The table shows that:

    • (1) ITS are used to compile goods items in 88 percent of cases, to compile service items (usually associated with transportation) in 43 percent of cases, and to compile transfer items (usually associated with the identification of goods under foreign aid programs) in 17 percent of cases.

    • (2) An ITRS is used to compile goods items in 26 percent of cases; service items in 79 percent of cases, income items in 66 percent of cases, transfer items in 76 percent of cases, financial account items in 62 percent of cases, and IIP items in 31 percent of cases.

    • (3) ES are used (usually as a supplementary source) to compile goods items in 40 percent of cases, service items in 72 percent of cases, income items in 57 percent of cases, transfer items in 21 percent of cases, financial account items in 66 percent of cases, and IIP items in 48 percent of cases.

    • (4) Official sources are used (usually as a supplementary source) to compile goods items in 21 percent of cases, service and income items in about 70 percent of cases, and transfer and financial account items in 81 percent of cases. For countries that compile stock positions, official sources are used in all but one case.

    • (5) Household collections (mostly migration statistics and surveys of travelers) are used to compile service items (mostly travel) in 62 percent of cases and to compile transfer items in 12 percent of cases.

    • (6) Data from partner countries, etc. are used to compile service items (particularly those associated with foreign government expenditure) in 34 percent of cases, and transfer items (usually those associated with foreign development assistance) in 36 percent of cases.

    Table 5.Compiler Survey—Sources Used to Compile Data Items
    SourceGoodsServicesIncomeTransfersFinancial
    Account
    IIP
    Statistics
    ITS512510
    ITRS154638443618
    ES234233123828
    Official sources n.i.e.124041474735
    Household collections23627
    Partner country, etc, sources62052142
    Note: Compilers in only 36 of the countries responding to the survey compile either full or partial IIP statistics.

    Individual Data Sources

    International Trade Statistics

    1200. A number of questions were asked about ITS, including whether a country’s statistics are compiled on a general or a special trade basis. As table 6 (on page 244) shows, 61 percent of all countries responding to this part of the survey use a general trade basis. Germany, which uses a special trade basis, reported that it adjusts goods for warehouse transactions and thus makes the coverage of its trade statistics consistent with a general trade basis.

    Table 6.Compiler Survey—ITS Statistical Basis
    Industrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    Special trade4743220
    General trade10586231

    1201. Compilers were also asked to report the point of valuation used in ITS. Of particular interest was whether imports are recorded on a c.i.f. or an f.o.b. basis. When more than one basis was reported, compilers were asked which basis is used to compile goods items in the BOP. Table 7 (on page 244) shows that 38 countries (75 percent) measure imports on a c.i.f. basis and the remainder use an f.o.b. basis. Some qualifications are needed. The United States uses a free-along-side ship basis, and Canada uses an ex-plant basis. (Both are coded as f.o.b in table 7.) Indonesia, which is coded as c.i.f. in table 7, uses a cost and freight basis.

    Table 7.Compiler Survey—Import Valuation in ITS
    Industrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    C.i.f.1010113438
    F.o.b.421613

    1202. Compilers were asked whether goods were recorded on a shipment, documents cleared, documents processed, or some other timing basis. Compilers were also asked about the methods used to undertake currency conversion. The answers to these questions were varied, and there was no easy way to tabulate them.

    International Transactions Reporting Systems

    1203. Compilers who use international transactions reporting systems were asked about the nature of their systems; questions included (a) whether the system covers foreign currency only or foreign and domestic currency transactions, and (b) whether the system is closed, open, or partial. Table 8 (on page 244) shows that, in the 49 ountries in which an ITRS is used, 55 percent of systems measure foreign currency transactions only. Twenty-nine percent of the systems used are closed, 49 percent are open, and 16 percent are partial.2 In the case of industrial countries that use an ITRS, 92 percent of systems cover both domestic and foreign currencies and 50 percent of the systems are closed. While answers to other questions on the use of an ITRS provided valuable information, it was difficult to compile meaningful tables.

    Table 8.Compiler Survey—Nature of International Transactions Reporting Systems
    Industrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    Coverage of Currencies
    Foreign currency only1697427
    Both domestic and foreign currency11523122
    Type of System
    Closed6232114
    Open4665324
    Partial21238
    Not stated213

    Enterprise Surveys

    1204. Table 9 shows types of ES used by compilers. The most prevalent types reported by compilers were designed to measure: bank transactions (compilers in 67 percent of countries use ES for this purpose); transportation transactions (66 percent); external assets and liabilities (59 percent); service transactions, other than transportation and travel (48 percent); travel (36 percent); transactions in goods (34 percent); the activities of financial intermediaries (29 percent); compensation of employees (26 percent); and the transactions of private aid organizations (26 percent).

    Table 9.Compiler Survey—Use of Enterprise Surveys
    Type of CollectionIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    Goods484420
    Transportation101198139
    Travel4754121
    Services n.i.e.8847128
    Compensation of employees3731115
    Private aid organizations451515
    External assets and liabilities11967134
    Transactions associated with financial intermediaries1032217
    Banks121168239

    Official Sources

    1205. Table 10 (on page 245) shows the types of official sources that compilers reported using. In order of frequency, the most prevalent sources reported were: central bank information on reserves (used by compilers in 91 percent of countries); debt management offices (71 percent); government accounts (67 percent); foreign aid accounts (66 percent); approvals of foreign investment (22 percent); education statistics (21 percent); applications to obtain foreign exchange and taxation records (16 percent in both cases); immigration records, other than migration statistics, (12 percent); and health statistics (5 percent). A compiler in one country reported using information from applications to export goods. Several other types of official sources were reported, but mese are not shown in the table.

    Table 10.Compiler Survey—Use of Official Sources n.i.e.
    Type of SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    Sources Measuring Official Sector Activities
    Government accounts91097439
    Debt management offices613109341
    Central bank information on reserves13141111453
    Administrative By-product Collections
    Approvals of foreign investment3324113
    Applications to obtain foreign exchange23319
    Applications to export11
    Immigration records21227
    Taxation data42129
    Foreign aid accounts81296338
    Education and health data242412

    Household Collections

    1206. Table 11 (on page 246) shows the types of household collections that compilers reported using. The table shows that compilers in 50 percent of the countries responding use surveys of travelers and compilers in 43 percent of the countries use migration statistics. These two sources are usually used in combination to compile all or part of the travel item. The use of other types of household collections was reported by 14 percent of compilers.

    Table 11.Compiler Survey—Use of Household Collections
    Type of CollectionIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    Migration statistics4458425
    Surveys of travelers8576329
    Other household surveys41218

    Partner Countries and International Institutions as Data Sources

    1207. Table 12 (on page 246) shows the use by BOP compilers of partner countries and international institutions as sources of data. Compilers in 21 percent of the countries responding reported using surveys of foreign embassies; in 40 percent of cases, compilers reported using information on foreign aid from the accounts of donors; and in 29 percent of cases, other partner country sources were reported as being used. Compilers in 12 percent of countries reported using data from international institutions.

    Table 12.Compiler Survey—Use of Information from Partner Countries and International Institutions
    Type of SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    Surveys of foreign embassies351312
    Accounts of foreign aid donors957223
    Other partner country sources6712117
    International institutions3227

    Frequency and Timeliness of Data Sources

    1208. This section discusses the observations of compilers on the frequency and timeliness of data sources used to compile BOP statistics. Compilers were asked to record, for each data source used, how frequently data were available and the elapsed time, from the reference period, in which data became available. Results are presented in table 13 on page 247. Some compilers reported the frequency but not the timeliness of data sources; these cases were excluded from the table. For the frequency of data collections, only three time periods are shown in the table. Sources reported as being available each month or more frequently are shown as monthly; sources reported as being available every six months or less frequently are shown as annual. When compilers reported several frequencies for one source, a judgement was made about the predominant frequency. Data on average time lags are rounded to the nearest week.

    Table 13.Compiler Survey—Frequency and Timeliness of Data Sources
    Frequency with Which Data Became Available (number of countries)Average Time Lag for Data to Become Available (weeks)
    SourceMonthlyQuarterlyAnnualNot ReportedMonthly SourcesQuarterly SourcesAnnual Sources
    ITS and International Transactions Reporting Systems
    ITS41433716102
    International transactions reporting systems442127515
    Enterprise Surveys
    Goods46735736
    Transportation311141061431
    Travel3212241031
    Services n.i.e.351465737
    Compensation of employees14833743
    Private aid organizations294324
    External assets and liabilities382034837
    Financial intermediaries6475637
    Banks245735922
    Selected Official Sources
    Government accounts18612341322
    Debt management records1710777522
    Central bank reserves information41138398
    Approvals for foreign investment8237910
    Applications for foreign exchange814
    Foreign aid accounts961112101034
    Education statistics11821413
    Selected Other Sources
    Migration statistics162349540
    Surveys of travelers696861231
    Accounts of donors of foreign aid62966626

    1209. Predominantly monthly sources include ITS, international transactions reporting systems, information on reserves from central banks, foreign investment approvals, applications to acquire foreign exchange, ES of banks, and migration statistics. ES measuring transactions in goods, ES of financial intermediaries, government accounts, foreign aid accounts, debt office records, ES of transportation activities, surveys of travelers, and partner country data on foreign aid tend not to have a predominant frequency. Sources that tend to have an annual frequency are ES of travel, ES of other services, ES of external assets and liabilities, and education statistics. However, a significant incidence of quarterly ES of external assets and liabilities was reported by compilers from countries that rely predominantly on ES to compile quarterly BOP statistics.

    1210. As table 13 shows, compilers reported that most data were available within a reasonable time frame. However, compilers frequently reported estimating some items when data were unavailable to meet timetables. Table 13 also shows that the more frequent data sources were usually the most timely. Information from central banks on reserves, government accounts, and applications to acquire foreign exchange tended to be the most timely of all data sources. Generally, the timeliness of ITS, international transactions reporting systems, and ES was good.

    1211. The average time lags for data sources shown in table 13 mask some significant variations. If the more extreme time lags are removed, the results show what could be reasonably expected. Adjusted results are shown in table 14 on page 248.

    Table 14.Compiler Survey(Adjusted Results)—Frequency and Timeliness of Data Sources
    Frequency with Which Data Became Available (number of countries)Average Time Lag for Data to Become Available (weeks)
    SourceNumber of Countries EliminatedMonthlyQuarterlyAnnualMonthly SourcesQuarterly SourcesAnnual Sources
    ITS and International Transactions Reporting Systems
    ITS8363161316
    International transactions reporting systems737215515
    Enterprise Surveys
    Goods14665725
    Transportation53101061222
    Travel332941019
    Services n.i.e.53595720
    Compensation of employees31453725
    Private aid organizations128321
    External assets and liabilities737144727
    Financial intermediaries6475637
    Banks622445512
    Selected Official Sources
    Government accounts61461031315
    Debt management records4141066517
    Central bank reserves information53712295
    Approvals for foreign investment17236910
    Applications for foreign exchange84
    Foreign aid accounts386941022
    Education statistics1181413
    Selected Other Sources
    Migration statistics315217518
    Surveys of travelers269461221
    Accounts of donors of foreign aid16286620

    Compiler Assessments of the Quality of Data Sources

    1212. Compilers were asked to assess, by using the following ratings, the quality of their data sources:

    • (A) There is good coverage of transactors, and data are valued and classified correctly.

    • (B) There is less than complete coverage of transactors, but data are valued and classified correctly.

    • (C) There is good coverage of transactors, but data are not always valued and classified correctly.

    • (D) There are coverage, valuation and classification deficiencies, but data are considered to be useful indicators for BOP purposes.

    • (E) The data are of poor quality.

    1213. Compiler ratings were converted into numeric values (“A” equaled 1, “B” equaled 2, and so on), which were then aggregated and averaged; results are presented in table 15. Sources with lowest values may be considered, in the opinion of compilers, to be the most accurate. The results should be viewed with care, as the ratings provided are based on subjective perceptions that may not be directly comparable.

    Table 15.Compiler Survey—Compiler Perceptions of Data Source Quality
    SourceNumber of Countries ReportingAverage Rating
    ITS511.5
    International Transactions Reporting Systems
    Closed systems152.1
    Open systems242.3
    Partial systems102.5
    Enterprise Surveys
    Goods212.0
    Transportation362.2
    Travel162.3
    Services n.i.e.272.5
    Compensation of employees152.9
    Private aid organizations141.9
    External assets and liabilities322.3
    Financial intermediaries172.0
    Banks391.3
    Official Sources
    Government accounts391.3
    Debt management office301.5
    Central bank reserves information501.2
    Approvals of foreign investment132.1
    Applications to obtain foreign exchange112.1
    Immigration records71.9
    Tax records82.9
    Foreign aid accounts (donor accounts)161.6
    Foreign aid accounts (recipient accounts)252.0
    Education statistics122.3
    Household Collections
    Migration statistics242.1
    Surveys of travelers282.5
    Partner Country Sources
    Surveys of foreign embassies82.8
    Accounts of donors of foreign aid211.8
    Other partner country sources112.9

    1214. As table 15 (on page 250) shows, the sources rated most highly, in terms of quality, were: central bank reserves information (average rating 1.2); government accounts and ES of banks (average rating of 1.3 for both); ITS and debt management offices (average rating of 1.5 for both); foreign aid donor accounts (average rating 1.6); and partner country accounts of foreign aid donors (average rating 1.8). Sources receiving the lowest ratings were: tax records and ES of employees compensation (average rating 2.9 for both); surveys of foreign embassies (average rating 2.8); and partial international transactions reporting systems, ES of services other than transportation and travel, and surveys of travelers (average rating of 2.5 for each).

    1215. Table 16 (on page 251) shows compiler assessments, which are broken down by region, of the quality of the main sources. Compilers in industrial countries rate ITS quite highly, whereas compilers in African countries rate the quality of ITS at a much lower level. On the other hand, all regions rate official sources about the same. Regional differences in the ratings for ES and international transactions reporting systems are not particularly significant. The consistent 2.0 rating given to partner country sources by non-industrial countries contrasts markedly with the average rating of 39 given by industrial countries.

    Table 16.Compiler Survey—Compiler Perceptions, by Region, of Data Source Quality
    Number of Sources ReportedAverage Rating
    Industrial
    Countries
    AfricaAsia
    n.i.e.
    Other
    Countries
    TotalIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Other
    Countries
    All
    Countries
    ITS14121213511.11.91.51.61.5
    ITRS12111115492.31.92.12.62.3
    Official sources n.i.e.465648632131.61.71.51.71.6
    ES606638542181.92.32.02.32.0
    Household collections1081222522.42.52.32.22.3
    Partner country sources62254373.92.02.02.02.3

    Compilation of BOP and IIP Statistics

    1216. This section examines the data sources used to compile items in the BOP and IIP.

    Goods

    1217. Table 17 (on page 251) shows sources used to compile goods items in BOP accounts. Compilers in 45 countries (78 percent) use ITS as the main data source; compilers in 23 of these countries use only ITS; and compilers in the remaining 22 countries supplement ITS with other sources. These supplementary sources include international transactions reporting systems (used in 5 countries), ES (used in 17 countries), official sources (used in 5 countries), and partner country sources (also used in 5 countries). Compilers in 6 countries (10 percent) use an ITRS as their main data source; compilers in 3 of these countries use only an ITRS; compilers in 2 countries supplement the ITRS with official sources; and, in 1 country, the ITRS is supplemented with ITS.

    Table 17.Compiler Survey—Sources Used to Measure Goods Items
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITS only4466323
    ITS supplemented by other sources10632122
    ITRS only1113
    ITRS supplemented by other sources1113
    Other sources3227

    1218. Compilers in 7 countries reported that they use neither ITS nor an ITRS as the main source for measuring goods items. The Congo uses a mixture of sources including ITS, an ITRS, official sources (for goods provided under development assistance), and ES. Gabon uses ES for exports and ITS for imports. Swaziland uses ITS but, as it also uses ES to check the ITS results, Swaziland has been counted in the other sources row. Indonesia uses a combination of ITS and ES. Sri Lanka measures imports by using both ITS and an ITRS and measures exports by using an ITRS. The Bahamas uses ES for imports and relies on government accounts and surveys of travelers for exports. Trinidad and Tobago essentially relies on ES of goods.

    Transportation Services

    1219. Table 18 (on page 251) shows that compilers use a variety of sources to measure transactions in transportation services. Compilers in 40 countries (69 percent) reported that they use ES (usually surveys of transportation enterprises) to measure transportation transactions. In 10 cases, ES are not supplemented with either ITS or an ITRS. Thirteen compilers reported using an ES supplemented with ITS.

    Table 18.Compiler Survey—Sources Used to Measure Transportation Services
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITS11632224
    ITRS10695333
    ES111188240
    Official sources n.i.e.111115
    Household collections22
    Transactions not measured112

    1220. Compilers in 33 countries (57 percent) rely on international transactions reporting systems to measure transportation items. In 9 of these cases, the ITRS is not supplemented with either ITS or ES. Seven compilers reported using an ITRS supplemented with ITS; 12 reported using an ITRS supplemented with ES; and 5 reported that they supplement the ITRS with both ITS and ES.

    1221. Compilers in 24 countries (41 percent) use ITS to measure certain transportation items, such as freight. Several of these compilers reported that ITS provided them with information on imports of goods on both an f.o.b. and a c.i.f. basis or other data necessary to derive freight and insurance on imports.

    1222. Official sources are used by compilers in five countries to measure transportation items; in each case, other sources are used to supplement the official sources.

    1223. Respondents from the United Kingdom and the United States reported using surveys of travelers to estimate passenger fares.

    Travel Services

    1224. Table 19 (on page 252) shows that compilers in 37 countries (64 percent) reported using an ITRS to measure travel services. In 33 countries (57 percent), compilers use household sector collections (typically immigration statistics and surveys of travelers). Compilers in 12 countries (21 percent) use ES; compilers in 8 countries (14 percent) use official sources; and compilers in 5 countries (9 percent) use data from partner countries.

    Table 19.Compiler Survey—Sources Used to Measure Travel Services
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS10797437
    ES24612
    Official sources n.i.e.33118
    Household collections8579433
    Partner country55
    Transactions not measured11

    1225. It is interesting to analyze the combinations of data sources used to measure travel transactions in the BOP. Single sources are used in 25 cases (ITRS, 16; ES, 2; household collections, 6; and foreign exchange approvals, 1). An ITRS is combined with other sources in 21 cases; in 14 of these, the ITRS is combined with household collections, in 4 cases—with both household collections and ES, and in 3 cases—with other sources. ES are combined with sources other than an ITRS in 7 cases; in 4 of these cases, ES are combined with household collections, in 1 case—with official sources, and in 2 cases—with other sources. Household collections are combined with sources other than international transactions reporting systems and ES in 4 cases.

    Education and Health Services

    1226. Table 20 (on page 253) provides information on sources used by countries to measure education and health services for the BOP.3 Compilers in 39 countries reported measuring education services, and compilers in 33 countries reported measuring health services. In the countries that compile these items, the main sources are international transactions reporting systems (used in 25 countries) and official sources (used in 18 countries).

    Table 20.Compiler Survey—Sources Used to Measure Education and Health Services
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS6555425
    ES112
    Official sources n.i.e.2734218
    Household collections1113
    Partner country data213
    Education services not measured7443119
    Health services not measured6756125

    1227. Compilers in 26 countries reported using a single source (an ITRS in 17 cases, an official source in 7 cases, and ES and household collections in 1 case each). Compilers in 7 countries combine an ITRS with other sources—9 with official sources, 1 with a household sector collection (Bahrain), and 1 with partner country data (El Salvador). Compilers in 3 other countries reported using more than 1 source: Australia (ES and official sources), Canada (official and partner country sources), and the United Kingdom (household collections and partner country sources).

    Other services n.i.e.

    1228. Table 21 (on page 253) shows the data sources used to compile other service items. The main sources are: international transactions reporting systems, which are used by compilers in 41 countries (71 percent); ES, which are used in 30 countries (52 percent); official sources, which are used in 37 countries (64 percent); and partner country sources, which are used—particularly to measure services provided to foreign governments—in 11 countries (19 percent).

    Table 21.Compiler Survey—Sources Used to Measure Other Services n.i.e.
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITS112
    ITRS118108441
    ES7858230
    Official sources n.i.e.81097337
    Partner country data4222111

    1229. Compilers in 13 countries reported that they use only one source to measure transactions in other services. Eight of these compilers reported using an ITRS; three compilers reported using official sources; one compiler reported using ES; and one compiler reported using partner country data. Compilers in 33 countries reported using two sources; the most common combinations were an ITRS and official sources (13 cases), ES and official sources (8 cases), and an ITRS and ES (7 cases). Compilers in 10 countries reported using three sources; the most common combination was an ITRS, ES, and official sources. One compiler reported using four sources and another reported using five.

    Compensation of employees

    1230. Compilers in 32 countries reported that they collect data on compensation of employees. Compilers in 22 of these countries use an ITRS for this purpose; in 16 countries, ES are used; and in 3 countries, official sources—government accounts and tax data—are used. Australia reported using a survey of travelers to measures wages and salaries paid to nonresident travelers while they are traveling in Australia.

    1231. Compilers in 25 countries reported using a single source—either an ITRS (17 cases) or ES (8 cases)—to measure the compensation of employees item. Compilers in 4 countries reported using both an ITRS and ES. One compiler reported using a combination of ES, official, and household sector collections, while another compiler reported using an ITRS, ES, and official sources.

    Table 22.Compiler Survey—Sources Used to Measure Compensation of Employees
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS10371122
    ES4731116
    Official sources n.i.e.213
    Household collections11
    Item not measured35410426

    Reinvested Earnings

    1232. As table 23 (on page 254) shows, compilers in 36 countries reported collecting data on reinvested earnings of direct investment enterprises. Most (24 compilers) reported that they use ES. Compilers in 8 countries reported that they use official sources (including foreign exchange approvals, approvals of foreign investment, and debt office records) and compilers in 5 countries reported that they use an ITRS. Only one compiler reported using two sources—an ITRS and information from approvals of foreign investment.

    Table 23.Compiler Survey—Sources Used to Measure Reinvested Earnings
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS2215
    ES9644124
    Official sources n.i.e.12238
    Item not measured5554322

    Other Investment Income

    1233. Compilers in all but 3 countries reported that they collect data on investment income other than reinvested earnings. Table 24 (on page 254) shows that compilers in 37 countries (64 percent) use an ITRS; compilers in 35 countries (60 percent) use official sources; and compilers in 29 countries (50 percent) use ES. Compilers in Belgium and the United Kingdom reported that they use data from international institutions to measure part of income debits.

    Table 24.Compiler Survey—Sources Used to Measure Investment Income, Other than Reinvested Earnings
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS11698337
    ES8838229
    Official sources n.i.e.8978335
    Other sources213
    Items not measured123

    1234. Compilers in 21 countries reported that they use a single source—either an ITRS (14 cases), ES (4 cases), or official sources (3 cases). Compilers in 20 countries reported using two sources; 8 combine an ITRS with official sources and 10 combine ES with official sources. Compilers in 14 countries reported that they use at least three sources; 13 of the compilers reported combining an ITRS, ES, and official sources.

    Transfers (current and capital)

    1235. Compilers in all but two countries reported that they measure transfers for the BOP. Ten compilers reported that they use ITS; 44 reported using an ITRS; 12 reported using ES; 47 reported using official sources; 7 reported using household collections; and 21 reported using partner countries or international institutions as sources.

    1236. Only seven compilers reported using a single source—either official sources (5 cases) or an ITRS (2 cases)—to measure transfers for the BOP. Twenty-nine compilers reported using two sources; the most common combination was an ITRS and official sources. Most of the other compilers reported using between three and five sources.

    Direct Investment, Other Than Reinvested Earnings, Financial Flows

    1237. Table 25 shows that compilers in all but 6 countries reported that they collect data on direct investment, other than reinvested earnings, financial flows. Compilers use a variety of sources including international transactions reporting systems (26 countries); ES (26 countries); and official sources (16 countries) consisting mainly of government accounts, debt office records, and information from foreign exchange and foreign investment approvals.

    Table 25.Compiler Survey—Sources Used to Measure Direct Investment, Financial Flows*
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS10463326
    ES7646326
    Official sources n.i.e.2344316
    Items not measured3126

    Other than reinvested earnings

    1238. Compilers in 37 countries reported that they rely on a single source. In 16 cases, this source is an ITRS; in 15 cases—ES, and in 6 cases—official sources. Compilers in 13 countries reported using two sources—in 7 cases, an ITRS and ES; in 3 cases, an ITRS and official sources; and in 3 cases, ES and official sources. Two compilers reported using a combination of an ITRS, ES, and official sources.

    Portfolio Investment, Financial Flows

    1239. Compilers in 41 countries reported that they collect separate information on portfolio investment, financial flows. Compilers in 15 other countries reported that they measure portfolio investment indistinguishably from other investment.

    1240. Table 26 shows that the more common sources for measuring portfolio investment items are: an ITRS (20 countries); ES of external assets and liabilities (17 countries); ES of financial intermediaries (12 countries); ES of banks (18 countries), and official sources (20 countries), including government accounts, debt office records, and information from foreign investment and foreign exchange approvals.

    Table 26.Compiler Survey—Sources Used to Measure Portfolio Investment, Financial Flows
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS9143320
    ES—external assets and liabilities6532117
    ES—financial intermediaries65112
    ES—banks5533218
    Official sources n.i.e.826420
    Items not measured or separately identified844117

    1241. Compilers in 21 countries reported that they use a single source—in 10 cases, an ITRS; in 6 cases, ES; and in 5 cases, official sources—to measure portfolio investment, financial flows. Eighteen compilers reported that they use two sources—12 use ES and official sources; 3 use an ITRS and ES; and 3 use an ITRS and official sources. Compilers from 2 countries reported that they use a combination of ITRS, ES, and official sources.

    Other Investment, Financial Flows

    1242. Compilers in 40 countries reported that they collect separate information on other investment. Compilers in 9 other countries reported that they collect data on other investment that are indistinguishably included with portfolio investment. Compilers in 9 countries reported that they do not collect data for either portfolio investment or other investment; six of these compilers also do not collect information on direct investment.

    1243. As table 27 (on page 256) shows, the most common sources of information on other investment, financial flows are: an ITRS (23 countries); ES of external assets and liabilities (20 countries); ES of banks (23 countries); and official sources (27 countries) including government accounts, debt office records, and approvals for foreign investment and foreign exchange. Belgium, Germany, and the United Kingdom reported using data from international institutions to measure part of other investment, and Venezuela reported using data from partner country sources.

    Table 27.Compiler Survey—Sources Used to Measure Other Investment, Financial Flows
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS9344323
    ES—external assets and liabilities8524120
    ES—financial intermediaries33
    ES—banks1052623
    Official sources n.i.e.9665127
    Partner country314
    Items not measured or separately identified574218

    1244. Compilers in 12 countries reported that they rely on a single source—either an ITRS (5 cases), ES (5 cases), or official sources (2 cases)—to measure other investment financial flows. Compilers in 22 countries reported using two sources; the most common combinations were an ITRS and official sources (9 cases) and ES and official sources (8 cases).

    International Investment Position Statistics

    1245. A majority (36 out of 58) of countries responding to the survey compile some form of IIP statistics. Thirty-four countries produce statistics on stocks of direct investment; 29 measure stocks of portfolio investment; and 30 measure stocks of other investment. However, in a number of cases, the coverage of the statistics is only partial. Compilers in 22 countries reported that they do not compile any IIP statistics.

    1246. Table 28 (on page 256) shows that the main sources used to measure stocks of direct investment are ES (used in 24 countries), international transactions reporting systems (10 countries), and official sources (9 countries). The official sources used include debt management offices and approvals of foreign investment.

    Table 28.Compiler Survey—Sources Used to Measure Direct Investment Stocks
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS3222110
    ES1264224
    Official sources n.i.e.122319
    Items not measured3665424

    1247. Compilers in 24 countries reported that they use a single source—either ES (18 cases), an ITRS (3 cases), or official sources (3 cases)—to compile statistics on stocks of direct investment. Compilers in 6 countries reported that they use both ES and an ITRS, and compilers in 4 countries reported using both ES and official sources.

    1248. Table 29 shows the sources used to measure stocks of portfolio investment. Compilers in 11 countries reported that they use an ITRS. Compilers in 18 countries reported that they use ES. The United States relies solely on ES of intermediaries and, in El Salvador and Portugal, the ES are restricted to banks. Compilers in 20 countries reported using official sources.

    Table 29.Compiler Survey—Sources Used to Measure Portfolio Investment Stocks
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS4132111
    ES—External assets and liabilities93315
    ES—Financial intermediaries6118
    ES—Banks923115
    Official sources n.i.e.926320
    Items not measured21067429

    1249. Compilers in 12 countries reported that they use a single source—in 6 cases, an ITRS; in 2 cases, ES; and in 4 cases, official sources. Fourteen compilers reported that they use two sources; 11 of these compilers combine ES and official sources. Compilers in 3 countries combine an ITRS, ES, and official sources.

    1250. Table 30 shows the sources used to measure stocks of other investment. Thirteen countries use an ITRS, 22 use an ES (the compiler from New Zealand reported that their ES did not include banks), and 16 use official sources. The compiler from Germany reported using data from international institutions to measure part of stocks of other investment.

    Table 30.Compiler Survey—Sources Used to Measure Stocks of Other Investment
    SourceIndustrial
    Countries
    AfricaAsia
    n.i.e.
    Western
    Hemisphere
    Other
    Countries
    Total
    ITRS3332213
    ES—external assets and liabilities1132117
    ES—financial intermediaries55
    ES—banks1242321
    Official sources n.i.e.932216
    Partner country data11
    Items not measured2896328

    1251. Compilers in 9 countries reported that they use one source (in 6 cases—ES and in 3 cases—an ITRS) to measure stocks of other investment. Compilers in 20 countries reported that two sources are used. The combinations consisted of ES and official sources (11 countries), an ITRS and ES (5 countries), and an ITRS and official sources (4 countries). One compiler reported using an ITRS, ES, and official sources.

    Compiler Assessments of the Quality of Statistics

    1252. Compilers were asked to rate the quality of their BOP and IIP statistics by using the same rating system that they used to rate the quality of their data sources (see paragraph 1212). The ratings for statistical quality were also converted to numeric values and then averaged. The results are presented in table 31. The table shows the average assessment of quality for particular BOP and IIP components. The number of compilers who rated a particular component is shown in parentheses.

    Table 31.Compiler Survey—Compiler Assessments of the Quality of BOP and IIP Components
    Average Rating
    Industrial
    Countries
    AfricaAsia
    n.i.e.
    Other
    Countries
    Total
    Recorded trade1.2(15)2.2(12)1.9(12)1.9(16)1.8(55)
    Adjustments to recorded trade1.8(12)2.4(10)2.3(7)1.9(9)2.1(38)
    Transportation2.6(15)2.4(12)2.4(12)2.8(13)2.6(52)
    Travel, other than education2.2(15)2.3(12)2.1(12)2.6(14)2.3(53)
    Education services1.8(9)2.0(8)2.1(9)2.3(11)2.1(37)
    Other services2.1(15)2.4(12)2.2(12)2.4(15)2.2(54)
    Reinvested earnings2.2(10)2.3(8)2.6(7)2.2(9)2.3(34)
    Other investment income1.6(15)2.1(12)2.1(11)2.2(14)2.0(52)
    Compensation of employees2.8(13)2.6(8)2.8(8)2.4(7)2.6(36)
    Transfers2.3(15)2.4(11)2.1(11)2.4(12)2.3(49)
    Other direct investment transactions1.7(15)2.1(10)2.2(10)2.2(14)2.0(49)
    Portfolio investment transactions1.6(15)1-9(7)1.7(10)2.2(12)1.8(44)
    Other investment transactions1.5(15)1.5(7)1.8(6)2.5(9)1.8(37)
    Reserve asset transactions1.0(15)1.0(8)1.3(10)1.9(10)1.3(43)
    Direct investment stocks1.6(11)2.1(7)2.2(6)2.3(7)2.0(31)
    Portfolio investment stocks1.4(12)1.9(5)1.6(7)2.5(6)1.7(30)
    Other investment stocks1.3(11)1.4(6)1.6(4)2.6(5)1.6(26)
    Reserve asset stocks1.0(13)1.0(7)1.0(6)1.1(4)1.0(30)
    Note: Numbers of compilers providing ratings are shown in parentheses.

    1253. The ratings provided in table 31 should be interpreted with caution. In a number of cases, the rating for a component was derived from ratings provided for sub-components.

    1254. According to compiler perceptions, the most accurate components are reserves, that is, flows (with an average rating of 1.3) and stock positions (with an average rating of 1.0). The next most accurate items are recorded trade and flows and stocks of portfolio investment and other investment. On average, each of these components received a rating of less than 2. Recorded trade statistics were rated highly (average rating 1.2) by compilers in industrial countries, but compilers in other countries—in particular African countries—rated the quality of these statistics somewhat lower. The overall average rating for these statistics was 1.8. Components that received average ratings of between 2.0 and 2.3 included: direct investment (other than reinvested earnings) financial flows, direct investment stocks, other investment income (all with an average rating of 2.0); education services and adjustments to recorded trade (both with an average rating of 2.1); services other than travel, transportation, and education (average rating 2.2); and travel, reinvested earnings on direct investment, and transfers (all of which received an average rating of 2.3).

    1255. The components perceived by compilers to be the least accurate were transportation and compensation of employees; each received an average rating of 2.6. For some components there was often a wide range of ratings given to subcomponents. For example, within the other services and transfers components, the subcomponents measured by using official sources were perceived as being quite accurate, while other subcomponents, such as migrants’ transfers, were perceived to be significantly less accurate. Within the financial account and income components, compilers, on average, assigned better ratings to items associated with the official sector and somewhat lower ratings to non-official-sector transactions.

    1256. The assessments by compilers in industrial countries of the quality of their statistics are, on average, higher or equal to the assessments of compilers in other countries for all components except transportation, travel, compensation of employees, and transfers.

    Appendix II. Model Balance of Payments Forms
    Summary of the Model Collection Forms
    Number and TitleScope and PurposeOther Comments
    1. BOP ExploratoryThe form collects information on the type and size of BOP activity undertaken by enterprise groups. It provides information for maintaining and developing a BOP enterprise register.This form may be regarded as a benchmark collection form. It uses mark boxes to encourage a quick response. It may be modified to establish an ITRS enterprise register.
    2. BOP RegisterThe form records details of enterprise groups and the type and size of their BOP activity. It provides data essential for BOP collection design and maintenance.This is an office form.
    3. ITRS—TransactionsThe form collects data, within the limits of certain thresholds and exemptions, on foreign exchange payments and payments passing through the domestic banking system to nonresidents. The form provides information on individual transactions that are not collected in other ITRS forms.The model form relates to payments; a similar form (referred to as form 3R) is required for receipts. The classifications to be used in an ITRS (form 3C) and a supplementary imports form (form 3M) are included in the set of model forms.
    4. ITRS—BanksThe form collects data on banks’ own account transactions and stock positions and provides space to summarize transactions recorded on form 3s.The instructions, which could be issued as a separate booklet, provide an overview of the whole ITRS model collection. A separate form (form 4A) is to be completed for each currency. The model form is for a closed ITRS—one that provides for a reconciliation of transactions and bank positions. An open system would permit simpler forms.
    5. ITRS—EnterprisesThe form collects information on enterprise transactions and stock positions and reconciles positions and transactions. It provides data on transactions of enterprises that are not recorded on form 3.The instructions could be issued separately. A separate form is to be completed for each account. An open system would permit simpler forms.
    6. ES—GoodsThe form collects across-the-board data and selected data on exports and imports of goods.The form illustrates methods for collecting various data—including processing, repairs, merchanting, and projections—on goods. In practice, a form designed to collect information on goods would be simpler as compilers would only use parts of the model form.
    7. ES—Resident transport operatorsThe form collects data on resident transport operator earnings and expenses for compilation of transportation and certain goods items.The form could be tailored for different modes of transport.
    8. ES—Nonresident transport operatorsThe form collects, from residents, data on nonresident transport operators earnings and expenses for compilation of transportation and certain goods items.The form could be tailored for different modes of transport. Several more specialized forms could be created from the model form.
    9. ES–TravelThe form collects data on the means used to pay for travel and related services for compilation of the travel item.Several specialized forms could be created from this form.
    10. ES—ServicesThe form collects data on services not covered by forms 6-9 for compilation of various services items.Separate forms could be created to collect information on insurance. The creation of separate forms would simplify the other services form.
    11. ES—Compensation of foreign employeesThe form collects data on compensation of foreign employees and associated expenditure for compilation of the compensation of employee, travel, and workers’ remittance items.As employers may have some relevant information, the form includes questions on the estimated expenditure of foreign workers.
    12. ES—Claims on and liabilities to nonresidentsThe form collects data on financial flows, stock positions, reconciliation items, income, certain financial services, and withholding taxes. The data are used to compile financial account, IIP, investment income, financial services, and current transfer items.In practice, several forms may be created from this form, or more simplified versions of the form could be developed.
    13. ITRS/ES–International securitiesThis form collects, from financial intermediaries, data on financial transactions, stock positions, income, financial services, and withholding taxes associated with international securities. The data are used to compile financial account, IIP, investment income, financial services, and current transfer items.This form can be used in either an enterprise survey or an ITRS. The form is based on the assumption that comprehensive data are available from a single source; when this is not true, the form should be modified. For ES, compilers should ensure that the delineation of reporting between form 12 (or its equivalent) and form 13 is clear and that double counting is avoided.
    14. Embassies and international institutionsThis form collects data on wages and salaries paid to local workers, other embassy expenditures, foreign aid, and official finance. These data are used to compile compensation of employee, government services, current transfer, financial account, IIP, and investment income items.The model form relates to foreign embassies. It could be easily modified to collect information from international institutions. While the reporters, who will be nonresidents, to this form cannot be compelled to complete it, a number of countries have successfully collected information by using forms similar to the model form.
    15. Survey of persons—TravelThis form collects data from nonresident travelers on their expenditure on goods and services and on income and other amounts received in the compiling country. The data are used mainly to compile travel and compensation of employee items.The model form is designed to be completed by nonresident travelers shortly before they depart from the compiling country. Alternatively, the form could be used as the basis for an interview survey of these travelers. It would also be easy to modify the form to collect BOP information from resident travelers returning from abroad.

    Form 1—Exploratory Survey

    Form 1—Exploratory Form

    General Notes

    • This form should be completed for the enterprise named on page one and any of its subsidiaries in Gondwanaland. If there are any errors in the address label, please make corrections before returning the form.

    • A nonresident is an individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are regarded as residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are regarded as nonresidents.

    • All values are expressed in Gondwanaland dollars.

    Part A. Introductory Questions

    1.Is this enterprise a subsidiary of another enterprise in Gondwanaland?Yes[ ]No[ ]
    If the answer is yes, go to question 13 and do not answer intervening questions.
    2.Does this enterprise have subsidiary companies in Gondwanaland?Yes[ ]No[ ]
    If the answer is yes, the following questions should be completed in respect of the enterprise and its subsidiaries in Gondwanaland.

    Part B. Nonresident Owners

    3.Did this enterprise have nonresident owners as of 31 December 1993?
    (An enterprise has nonresident owners if it is a branch or subsidiary of a nonresident company or has nonresident shareholders.)
    Yes[ ]No[ ]
    If the answer is no, go to question 4.
    3A.Is this enterprise a branch of a foreign company?Yes[ ]No[ ]
    3B.Is this enterprise a subsidiary of a foreign company?Yes[ ]No[ ]
    3C.Does a single nonresident shareholder (or a group of related nonresident shareholders) hold between 10 and 50 percent of the equity in this enterprise or any of its subsidiaries?Yes[ ]No[ ]
    If the answer to question 3A, 3B, or 3C is yes, please list the names of the owners, their equity interest, and the name of the enterprise in which the equity is held......................................................................................................................................
    ................................................................................................................................................................................................
    4.Did any resident company that is a subsidiary of a nonresident enterprise own between 10 and 50 percent of the equity in this enterprise or its subsidiaries as of 31 December 1993?Yes[ ]No[ ]
    If the answer is yes, please give details...................................................................................................................................
    ................................................................................................................................................................................................

    Part C. Ownership of Nonresident Branches and Companies

    5.Did this enterprise or its subsidiaries have any nonresident branches or subsidiaries or own 10 percent or more of a nonresident enterprise as of 31 December 1993?Yes[ ]No[ ]

    Part D. International Trade in Goods in 1993

    6.Did this enterprise or its subsidiaries export or import goods
    from abroad during 1993?
    Yes[ ]No[ ]
    If the answer is no, go to question 7.
    6A.Please record the approximate value of:
    Goods ExportedGoods Imported
    Nil[ ]Nil[ ]
    $1 to less than $10,000[ ]$1 to less than $10,000[ ]
    $10,000 to less than $100,000[ ]$10,000 to less than $100,000[ ]
    $100,000 to less than $1 million[ ]$100,000 to less than $ 1 million[ ]
    $1 million and more[ ]$1 million and more[ ]
    6B.Please mark the categories for which the values of goods exported or imported exceeded $100,000.
    ExportsImports
    Food, live animals, beverages, and tobacco[ ][ ]
    Minerals, fuels, and lubricants[ ][ ]
    Chemical, plastic, medical, pharmaceutical,
    and rubber products, and fertilizers
    [ ][ ]
    Wood, paper, and products thereof[ ][ ]
    Textiles, clothing, and footwear[ ][ ]
    Machinery, office and communication equipment,
    and other electrical goods, including spares
    [ ][ ]
    Vehicles and transport equipment, including spares[ ][ ]
    Metal and metal products not in other categories[ ][ ]
    All other goods[ ][ ]
    7.Did this enterprise engage in merchanting—that is,
    buy and sell goods, including gold, abroad without
    the goods entering Gondwanaland?
    Yes [ ]No [ ]
    8.Did this enterprise (a) send goods abroad for processing
    or (b) process or repair goods sent from abroad?
    Yes [ ]No [ ]

    Part E. International Trade in Services in 1993

    9.Did this enterprise or its subsidiaries sell services
    to or purchase services from nonresidents during 1993?
    (Include transactions with related nonresident enterprises.)
    Yes[ ]No[ ]
    If the answer is no, go to question 10.
    9A.Please record the approximate value of:
    Services ExportedServices Imported
    Nil[ ]Nil[ ]
    $1 to less than $10,000[ ]$1 to less than $10,000[ ]
    $10,000 to less than $100,000[ ]$10,000 to less than $100,000[ ]
    $100,000 to less than $1 million[ ]$100,000 to less than $ 1 million[ ]
    $1 million and more[ ]$1 million and more[ ]
    9B.Please mark the categories for which the values of services exported or imported exceeded $100,000.
    ExportsImports
    Passenger and freight services[ ][ ]
    Other transport services[ ][ ]
    Travel services[ ][ ]
    Construction[ ][ ]
    Insurance[ ][ ]
    Financial services[ ][ ]
    Computer and information services[ ][ ]
    Royalties and fees[ ][ ]
    Trade-related services[ ][ ]
    Operational leasing or rental without operators[ ][ ]
    Research, development, and professional services[ ][ ]
    Other business services (specify)[ ][ ]
    .....................................................................................................................................................................................
    Personal, recreational, and cultural services[ ][ ]
    If you are uncertain about the appropriate category, please describe the service.......................................................
    .....................................................................................................................................................................................

    Part F. Employment of Foreign Workers in 1993

    10.Did this enterprise or its subsidiaries employ any foreign workers in 1993?
    (Foreign workers include persons residing in Gondwanaland for less than 12 months.)
    Yes[ ]No[ ]
    If the answer is no, go to question 11.
    10A.What were the approximate wages and salaries (in thousands of dollars) paid to such persons in 1993?$________________,000

    Part G. External Financial Assets and Liabilities as of December 31, 1993

    11.Please record the approximate market value of shares and other liabilities of this enterprise (and its subsidiaries) held by nonresidents as of December 31, 1993 and financial claims of this enterprise (and its subsidiaries) on nonresidents at that date.
    Shares and Other Liabilities Held by NonresidentsClaims on Nonresidents
    Nil[ ]Nil[ ]
    $1 to less than $10,000[ ]$1 to less than $10,000[ ]
    $10,000 to less than $100,000[ ]$10,000 to less than $100,000[ ]
    $100,000 to less than $1 million[ ]$100,000 to less than $ 1 million[ ]
    $1 million and more[ ]$1 million and more[ ]
    11B.Please mark the categories for which the values of liabilities or assets exceeded $100,000.
    LiabilitiesAssets
    Stocks (shares) and other equity[ ][ ]
    Other securities[ ][ ]
    Loans[ ][ ]
    Accounts receivable and payable[ ][ ]
    Deposits[ ][ ]
    Options, futures, warrants, currency swaps, etc.[ ][ ]
    Other (specify)[ ][ ]
    .................................................................................................................................................

    Part H. Details of Subsidiary Companies in Gondwanaland

    12. Please complete the following table if the answer to question 2 is yes.

    Name of SubsidiaryName of Parent Company% Owned by Parent CompanyMain Activity of CompanyOffice Use Only
    A
    B
    C
    D

    Part I. Final Questions

    13. Please verify that the form has been completed correctly; indicate that you have done so by marking the following boxes.

    [ ]The name and address shown on page one is correct or has been corrected.
    [ ]The name and telephone number of the person who should be contacted regarding this form are entered on page one. The person who completed this form has signed his or her name on this page.
    [ ]The answer to question 1 is yes, and the name and address of the primary parent company in the group are...............
    ...........................................................................................................................................................................................
    ...........................................................................................................................................................................................
    Therefore, questions 2 through 12 have not been completed.
    [ ]The answer to question 1 is no, and questions 2 through 11 have been completed.
    [ ]The answer to question 2 is yes and question 12 has been completed.
    [ ]I have made a copy of this form for my records.

    Name of person completing this form: .........................................................................................................................................

    Signature: ...................................................................................................................................................................................

    Form 2—Balance of Payments Enterprise Register Form

    Part A. Identification of Enterprise Group

    Reference Number and NameAddressContact Name and TitleTelephone and Facsimile Numbers

    Comments:............................................................................................................................................................

    Part B. Description of Enterprise Group

    Type of UnitSectorPublic/PrivateType of EnterpriseIndustry
    Description
    Code

    Comments:......................................................................................................................................................................................

    Part C Activities of the Group

    Exports GoodsImports GoodsExports ServicesImports ServicesEmploys Foreign WorkersForeign AssetsForeign Liabilities
    Yes/No
    Size
    Categories/////////////////

    Other activities:.....................................................................................................................................................................

    Part D. Population Maintenance Information

    Enterprise identified from (source):.......................................................................................................................................

    Most recent exploratory survey in which the enterprise was included:........................................................................................

    Part E. Details of Subsidiary Companies and Direct Investment Enterprises Abroad

    Name of Subsidiary CompanyReference NumberCountrySector CodeIndustry CodeName of Immediate Parent CompanyReference Number of Parent Company% of Voting Shares Held

    Part F. Major Shareholders

    Record details of any shareholder with an equity holding of 10 percent or more in the top enterprise of the group or any subsidiary.

    Name of CompanyReference NumberShareholder’s NameShareholder’s Reference Number% of Shares Held

    Section G. Officer Completing This Form

    Name:___________________________________________________________ Date:____/____/19____

    Instructions for Form 2—Balance of Payments Enterprise Register Form

    The enterprise register form is used to record information about members (enterprises) of the population.

    The information is subsequently used to conduct BOP surveys.

    In part A, the reference number, the name of the top enterprise in the group, and the address; the name and title of the contact officer in the enterprise (e.g., the person who completed the exploratory form or the person who completes other collection forms); and the contact’s telephone and facsimile numbers are recorded.

    In part B, information on the enterprise group is entered. This section allows for both descriptive coding and an alphanumeric code. The type of information that may be stored here includes:

    Type of Unit

    This section shows whether the statistical unit is:

    • A single enterprise unit

    • A multi enterprise group

    • A split enterprise group—that is, one that has been split according to sector.

    Sector

    • General government

    • Central bank

    • Bank

    • Other financial enterprise

    • Trading enterprise

    Public/private

    • Publicly owned enterprise

    • Privately owned enterprise.

    (The first category could be subdivided to distinguish among enterprises owned by central, state, or local governments.)

    Type of Enterprise

    • Direct investment enterprise, branch

    • Direct investment enterprise, company

    • Direct investor

    • Both a direct investment enterprise and a direct investor

    • Neither a direct investment enterprise nor a direct investor.

    Industry

    (This section contains whatever coding system is considered appropriate.)

    In part C, the activities of the group (which are collected in the exploratory survey) are recorded. The size categories (consistent with the exploratory questionnaire) are:

    • 0 Nil

    • 1 $1 to less than $10,000

    • 2 $10,000 to less than $100,000

    • 3 $100,000 to less than $1 million

    • 4 $1 million and more.

    Reporters are asked, on the exploratory form, to mark boxes for activities exceeding certain thresholds. The categories marked should be recorded on the line labelled categories. These data are used to identify the target populations and the sizes of population members for collection design purposes.

    The categories for exports of goods and imports of goods are:

    • A Food, live animals, beverages and tobacco

    • B Minerals, fuels, and lubricants

    • C Chemical, plastic, medical, pharmaceutical, and rubber products, and fertilizers

    • D Wood, paper, and products thereof

    • E Textiles, clothing, and footwear

    • F Machinery, office and communication equipment, and other electrical goods, including spares

    • G Vehicles and transport equipment, including spares

    • H Metal and metal products not included elsewhere

    • I All other goods.

    For exports of services and imports of services, the categories are:

    • A Passenger and freight services

    • B Other transport services

    • C Travel

    • D Construction

    • E Insurance

    • F Financial

    • G Computer and information services

    • H Royalties and fees

    • I Merchanting and other trade-related services

    • J Miscellaneous business, professional, and technical services

    • K Personal, cultural, and recreational services.

    For external financial assets and external financial liabilities, the categories are:

    • A Corporate and other equities

    • B Other securities

    • C Loans

    • D Accounts receivable and payable

    • E Deposits

    • F Options, futures, warrants, currency swaps, etc.

    • G Other.

    In part C, an additional line is included for other activities. This is a useful place for identifying activities (which may require special targeting) such as merchanting and imports and exports of goods for processing or repair.

    In part D, data are recorded on the source used to identify this unit and on the most recent exploratory survey in which this unit was included.

    In part E, details of subsidiary companies and any direct investment enterprises abroad are recorded. Including the name of the immediate parent company makes it possible to identify the complete company structure when enterprises in the group are subsidiaries of subsidiaries.

    In part F, major shareholders are identified. Reference numbers should be allocated to these major shareholders, and a separate record created for them, even if they are nonresident entities.

    ITRS Form 3P—Payments

    General Notes on Form 3P

    • Under the Statistics Act of Gondwanaland, residents are required to complete form 3P for any foreign exchange payment or any payment to a nonresident in excess of $G 10,000; however, transactions involving a bank account with a nonresident bank or a foreign currency account with a resident bank are excluded. (The excluded transactions are measured on ITRS Form 5—Enterprises.) Each person or enterprise making foreign exchange payments or payments to nonresidents in excess of $G 10,000 is required to have a transactor code, which should be reported on form 3P.

    • A nonresident is any individual, enterprise, or other organization ordinarily resident in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are nonresidents.

    • The information reported on this form is used to compile balance of payments statistics for Gondwanaland and is treated confidentially.

    • Completion of this form requires a copy of ITRS Form 3C—Classifications. Copies may be obtained from the bank that provided form 3P.

    • Responses to questions on form 3P should be printed clearly and a copy should be kept by the individual or enterprise representative completing the form.

    • ITRS Form 3M—Imports must also be completed if transactions reported on form 3P are for the payment of goods imported into Gondwanaland. A copy of form 3M is available from the bank that provided form 3P.

    Completing Form 3P

    CodesThe reference number and bank code will be entered by the bank that provided form 3P. Individuals or enterprise representatives completing form 3P should enter the month and day as a four-digit number (e.g., 0403 for April 3) and the transactor code, if such a code has been assigned by the Gondwanaland Ministry of Statistics.
    Question 1Currency codes are included on ITRS Form 3C—Classifications. All amounts should be reported in thousands of foreign currency units—except yen or lira, which should be reported in millions, or Gondwanaland dollars, for which entries should be left blank.
    Question 2To report the equivalent Gondwanaland dollar value (expressed in thousands), convert from the foreign currency by using the midpoint of the buy and sell rates applicable on the date of the transaction.
    Question 3Consult ITRS Form 3C—Classifications for the appropriate transaction code and describe the transaction. If a number of codes are applicable to the transaction, leave the entry blank and provide the appropriate information in response to question 4.
    Question 4Question 4 requests information about single payments relating to more than one transaction. Such payments may be the result of: (1) more than one transaction code being applicable to the payment (e.g., a loan repayment combined with interest); (2) partial netting (e.g., the actual payment is the difference between financing provided and fees charged); (3) a settlement transaction (i.e., the payment settles a number of transactions). In each case, the underlying transactions should be recorded; additional forms should be requested if space is insufficient. When individual underlying transactions are less than the equivalent of $10,000 Gondwanaland dollars, entries may be amalgamated and the most appropriate transaction code applied.
    Question 5Refer to ITRS Form 3C—Classifications for a list of other party codes and country codes.
    Question 6Please add any comments necessary to clarify answers to questions on form 3P and/or note any difficulties encountered in completing the form.

    If you have any questions, please call Mr. Fossum at (202) 623-7942.

    ITRS Form 3C—Classifications

    Transaction Codes

    1.Goods exported and imported4.Compensation of employees
    110Goods arriving in or leaving Gondwanaland400Compensation of employees
    120Goods for processing5.Investment income
    130Gold510Dividends
    140Goods supplied to ships in port520Distribution of profits
    150Merchanting530Interest
    2.Transportation and travel services6.Transfers
    Freight services610Migrants transfers
    211Sea transport620Workers’ remittances
    212Air transport630Development assistance
    213Other transport640Other
    Passenger services (international routes)
    221Sea transport7.Transactions in claims on nonresidents
    222Air transport710Shares
    223Other transport720Other equities
    Other transportation services730Bonds and notes (long-term)
    231Sea transport740Money market instruments (short-term)
    232Air transport750Loans, long-term
    233Other transport760Loans, short-term
    770Deposits
    240Travel, other than passenger services780Options, futures, warrants, swaps, etc.
    790Other
    3.Other services
    310Communications8.Transactions in liabilities to nonresidents
    320Construction810Shares
    331Insurance premiums820Other equities
    332Insurance claims830Bonds and notes (long-term)
    340Financial services, excluding insurance840Money market instruments (short-term)
    350Computer and information service850Loans, long-term
    360Royalties and fees860Loans, short-term
    371Trade-related services870Deposits
    372Operational leasing and rental of transport equipment without crew880Options, futures, warrants, swaps, etc.
    373Research and development890Other
    374Legal, accounting & management consulting services9.Transfer of funds between accounts
    375Advertising and market research900Transfer of funds between accounts
    376Architecture, engineering, and other technical services
    377Agricultural, mining, and on-site processing
    378Other business services
    381Audio visual and related services
    382Other personal, cultural, and recreational services
    390Services to foreign governments, n.i.e.
    399Repairs

    Transaction Type

    (Required to complete forms 4A and 5 but not forms 3P and 3R)

    1. Single payment transaction The payment is applicable to only one transaction code, and no netting or settlement is involved.3. Offset transactions These transactions do not result in cash payments through bank accounts and should be recorded so that all gross transactions are measured. Offset entries could result from, for example, the acquisition of financing to pay for goods and services; the provision of goods, services, and financial assets in lieu of interest and dividends; various debt to equity swaps; or the issue of shares to pay for goods. In each case, both a payment and a receipt entry should be recorded. If several transaction categories are involved, several payment and receipt entries may have to be recorded.
    2. Multi-payment transaction Payments apply to more than one transaction code (e.g., a loan repayment is combined with interest), result from partial netting (e.g., actual payment is the difference between financing acquired and fees paid), or are settlement transactions, in which payments settle a number of transactions. In each case, underlying transactions should be recorded.
    4. Transfer of funds between accounts The other currency involved should be recorded in column D.

    Other Party Codes

    • 1. Nonresident head office, nonresident parent company, major shareholder, or companies related to or associated with these

    • 2. Nonresident branch or subsidiary of transactor or an enterprise in which this enterprise (or a subsidiary or associate company) has a major shareholding

    • 3. Foreign government

    • 4. An international institution

    • 5. A nonresident central bank

    • 6. A nonresident bank

    • 7. Another nonresident entity or person

    • 8. A resident entity or person

    • Note: In items 1 and 2, a major shareholder is one with 10 percent or more equity interest.

    Country Codes

    To be provided by the compiler

    Currency Codes

    To be provided by the compiler

    Export/Import Codes

    (Required to complete forms 3M and 3X and part F of form 5)

    A. Food, live animals, beverages and tobaccoF. Machinery, office and communication equipment, and other electrical goods, including spares
    B. Minerals, fuels, and lubricants
    C. Chemical, plastic, medical, pharmaceutical, and rubber products, and fertilizersG. Vehicles and transport equipment, including spares
    H. Metal and metal products not included elsewhere
    D. Wood, paper, and products thereofI. All other goods
    E. Textiles, clothing, and footwear

    ITRS Form 3M—Imports

    Form 4—Banks

    Notes and Instructions for Form 3 Series and for Forms 4A and 4B

    1. The International Transactions Reporting System (ITRS) collects information from banks via a number of forms.

    Definitions of Residents and Nonresidents

    2. A nonresident is an individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are regarded as residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are regarded as nonresidents.

    Form 3 Series

    3. The basic forms are the ITRS Form 3P—Payments and the ITRS Form 3R—Receipts. These should be completed by residents of Gondwanaland who: (a) purchase foreign exchange from, or sell foreign exchange to, your bank or (b) make payments in Gondwanaland dollars to, or receive payments in Gondwanaland dollars from, nonresidents. Supplementary Form 3M—Imports and Form 3X—Exports are required for transactions involving goods arriving in or departing from Gondwanaland. To reduce reporting burdens and processing costs associated with the form 3 series, a number of exemptions are permitted. These include:

    • (a) Purchases and sales involving the equivalent of less than $G 10,000. However, transactions below this level are the subject of small sample surveys. (See note 8.)

    • (b) Purchases and sales of travelers’ checks. These should be reported by your bank on ITRS Form 4A—Banks, part B at the time the travelers’ checks are settled with nonresident banks.

    • (c) All transactions occurring through resident foreign currency accounts held with your bank. Details of these transactions are collected directly from enterprises on ITRS Form 5—Enterprises.

    • (d) All transactions occurring through security brokers and managers. These are reported directly by these organizations on ITRS Form 13—International Securities.

    4. In accordance with ITRS collection arrangements, your bank is responsible for making resident bank customers aware of their obligations to complete ITRS forms 3P and 3R. In most cases, forms 3P and 3R should be completed when customers enter your bank to undertake the relevant transactions. (Some banks have combined the ITRS forms with bank forms on which payment instructions are specified.) Persons or enterprises engaging in transactions valued at the equivalent of $G 100,000 or more per year should register with the Gondwanaland Ministry of Statistics to obtain a transactor code.

    5. Tracking the occurrence of payments made, in Gondwanaland dollars, by residents to nonresidents is more difficult; resident transactors may engage in such transactions without approaching a bank. When particular persons or enterprises regularly conduct such transactions, the Gondwanaland Ministry of Statistics will make special arrangements for resident principals to report the transactions directly to the ministry.

    6. The staff of your bank should be familiar with forms 3P and 3R and with ITRS Form 3C—Classifications, which is used by transactors to complete other forms. An ITRS training package is available from the Gondwanaland Ministry of Statistics, or your bank may telephone Mr. Fossum for assistance at the numbers shown on page one (upper right-hand corner) of this form.

    7. Your bank should maintain a sufficient supply of forms and should also, if customers complete forms regularly, encourage them to maintain supplies of forms for their use. Your bank may order forms by using the ITRS Form O—Order or by contacting the Gondwanaland Ministry of Statistics at the address shown on page one of this form.

    8. Your bank may also encounter ITRS Form 3PS—Sample of Payments and ITRS Form 3RS—Sample of Receipts. These modified versions of forms 3P and 3R collect data on a sample of transactions valued at amounts below a designated threshold. The information is used to determine appropriate classifications for those transactions.

    ITRS Form 4A—Banks

    9. ITRS Form 4A primarily collects data on payments and receipts for your bank’s own accounts with nonresidents. Separate entries should be recorded for each transaction of $G 10,000 or more; smaller transactions may be combined. When several transaction codes apply to a receipt or a payment or result from payments being partly offset against receipts (or vice versa), the underlying gross transactions should be recorded. (See ITRS Form 3C—Classifications for further information on multi-payment transactions.) Similarly, offset transactions (also described on form 3C) that do not result in bank account entries but otherwise affect the banks’s external asset and liability position should also be recorded. Should your bank conduct offset transactions denominated in currencies (including Gondwanaland dollars) for which a form 4A is not already being completed, the bank should record such transactions on a separate form 4A.

    10. Form 4A can be used as a pro forma for supplying relevant data in computer readable form, or information may be entered on the form itself. If space to record all transactions is insufficient, please be sure to attach the additional details.

    Completing ITRS Form 4A—Banks

    Part A

    11. The bank reference number is listed on page one of this form. The currency code classification is shown on ITRS Form 3C—Classifications. Month and year should be entered as a four-digit number (e.g., 0494 for April 1994).

    Part B

    12. The day should be recorded as a two digit-number (e.g., 02 would represent the second day of the month). Number is a three-digit code. The number 001 should be the first number used each day. Subsequent numbers should be used for subsequent transactions. The transaction code, the transaction type, the other party code, and the country code should be taken from form 3C.

    13. To reduce the reporting burden and limit processing costs, data should be reported in thousands or millions of currency units; and small transactions should be combined. For multi-payment and offset transactions, it is necessary to identify the underlying transactions, and these should be reported on a gross basis.

    14. In columns G and I where values should be expressed in Gondwanaland dollars, transactions should be converted at the midpoint of the buy and sell rates applicable on the date of the transaction.

    Part C

    15. Part C facilitates checking of the conversion rates used in part B. Any unusual conversion rates should be explained.

    Parts D, E, and F

    16. Parts D, E, and F facilitate reconciliation of stock position and flow data supplied in various forms. Data in part D represent a summary of form 4B, which is described subsequently. Any significant reconciliation amounts reported in column E of parts E or F should be explained. For transactions in Gondwanaland dollars, closing balances in part E, columns A and B should be recorded as zero—unless the bank holds Gondwanaland dollar accounts with nonresident banks, in which case the balance of these accounts should be recorded. See form 3C for a list of country codes.

    Part G

    17. The asset/liability code should be selected from codes 710 through 790 for assets and 810 through 890 for liabilities from the transaction code classification shown on form 3C. The nonresident party code and the country code should be selected from other party codes and the country classifications, respectively, shown on form 3C. One line should be used for each asset/liability, nonresident party, and country combination. For example, if a bank held a portfolio of equity securities in a nonbank enterprise in the United States and had long-term U.S. dollar loans from banks in the United States and the United Kingdom, three entries should be made:

    ABC
    7107001
    8506001
    8506002

    18. In column A, 710 represents shares in nonresident enterprises and 850 long-term loan liabilities to nonresidents. In column B, 7 represents a nonresident, nonbank entity and 6 represents a nonresident bank. In column C, 001 represents the United States, and 002 represents the United Kingdom.

    Part H

    19. This section is included to assist you in checking the form before you return it.

    ITRS Form 4B—Bank’s Record of Transactions

    20. In accordance with ITRS collection arrangements, your bank should, for transactions that pass through the bank, maintain a record of all foreign currency transactions and all transactions in Gondwanaland dollars with nonresidents. A copy of these records should be sent to the Gondwanaland Ministry of Statistics, within six days of the end of the reference month, on ITRS Form 4B—Record of Transactions. Entries in some table cells are not required (note //// marks). For example, in columns E, F, and G, only currency code, payments and receipts, and value are required. For column A (bank’s own transactions), greater detail is required on the ITRS 4A—Banks; this column is included in the table on the form 4B to show the coverage provided by form 4A. Form 4B can be regarded as a pro forma for supplying data in computer readable form.

    Other ITRS Forms

    21. Your bank may encounter other special purpose ITRS collection forms requesting information on transactions that cannot readily be collected by using forms 3 and 4.

    Balance of Payments Survey ITRS Form 4A—Banks

    Part A. Reference Information

    Bank NameBank Reference NumberCurrency CodeMonth and Year

    Part B. Bank’s Own Account Payments and Receipts

    (Including transfer of funds between accounts and the purchase and sale of foreign currency)

    • All amounts, except lira and yen, should be reported in thousands in columns F, G, H, and I. Lira and yen should be reported in millions in columns F and H.

    • Small transactions—that is, transactions of less than the value of $G 10,000 Gondwanaland dollars—should be combined and included as a single transaction. These should be given the most appropriate transaction codes.

    • In the case of multi-payment and offset transactions (see instruction 9), the underlying gross amounts should be recorded.

    Day
    A
    Number
    B
    Transaction Code
    C
    Transaction Description
    D
    Transaction Type
    E
    Payment (foreign currency)
    F
    Payment (Gondwanaland dollars)
    G
    Receipt (foreign currency)
    H
    Receipt (Gondwanaland dollars)
    I
    Other Party Code
    J
    Other Party Country Code
    K
    001
    Total/////////////////////////////////////////////////////////////////////////////////

    Part C. Exchange Rate Check

    Please record the average implied exchange rates used in part B:

    • for payments ................ (Total in column F / Total in column G)

    • for receipts ................ (Total in column H / Total in column I)

    Please explain any unusual exchange rates............................................................

    .................................................................................................................................

    .................................................................................................................................

    Part D. Transaction Summary

    (Report in millions of currency units)

    Description of TransactionPayments
    A
    Receipts
    B
    1. Bank’s own account (column A = column F in part B and column B = column H in part B)
    2. Resident foreign currency accounts
    3. Resident transactions—$G 10,000 or greater
    4. Accounts of security dealers and managers
    5. Resident transactions—less than $G 10,000
    6. Nonresident accounts—banks
    7. Nonresident accounts—nonbanks
    8. Total

    Part E. Reconciliation with Nostro Balances

    (Report in millions of currency units)

    Closing Account Balance for This Month (in foreign currency)
    A
    Closing Account Balance for Previous Month (in foreign currency)
    B
    Total Payments (as recorded in column A, row 8 of part D)
    C
    Total Receipts (as recorded in column B, row 8 of part D)
    D
    Reconciliation
    (A - B + C - D)
    E

    Please explain the reconciliation item if it is significant..................................................................................

    ....................................................................................................................................................................

    ....................................................................................................................................................................

    Please specify the amounts reported in columns A and B by country.

    Country Code
    Value in column A
    Value in column B

    Part F. Reconciliation of Accounts of Nonresidents

    (Report in millions of units of currency)

    Closing Account Balance for This Month
    A
    Closing Account Balance for Previous Month
    B
    Total payments from Nonresident Accounts (as recorded in column A, rows 6 and 7, of part D)
    C
    Total receipts for Nonresident Accounts (as recorded in column A, rows 6 and 7, of part D)
    D
    Reconciliation
    (A - B + C - D)
    E

    Please explain the reconciliation item if it is significant..................................................................................

    .................................................................................................................................

    .................................................................................................................................

    For the amounts reported in columns A and B, please indicate whether the account is held by a nonresident bank or nonbank and record the relevant country codes and amounts involved.

    Bank/Nonbank
    Country code
    Value in column A
    Value in column B

    Part G. Other External Asset and Liability Positions

    • Report details of claims (other than nostro accounts) on and liabilities (other than vostro accounts and other deposits) to nonresidents.

    • Report in thousands, or millions in the case of yen or lira, of currency units.

    • A separate line should be used to record each asset/liability code, nonresident party code, and country code combination. (See note 17 of instructions for form 4A.)

    Asset/ Liability Code
    A
    Nonresident Party Code
    B
    Country Code
    C
    Closing Position for This Month
    D
    Closing Position for Previous Month
    E
    Payments Recorded in Part B
    F
    Receipts Recorded in Part B
    G
    Reconciliation (a)
    H

    For assets, H = D - E + F - G. For liabilities, H = D - E - F + G.

    Please explain the reconciliation item if it is significant..................................................................................

    ....................................................................................................................................................................

    ....................................................................................................................................................................

    Part H. Final Questions

    Please verify that the form has been completed correctly and mark the following boxes.

    [ ]The information in part A of the form is correct.
    [ ]Part B of the form has been completed in accordance with instructions. In particular, multi-payment and offset transactions have been reported on a gross basis. The totals for columns F, G, H, and I have been entered.
    [ ]The exchange rates in part C have been calculated, and the average exchange rates derived show that each transaction has been converted correctly. Any unusual conversion rates have been explained.
    [ ]Parts D, E, and F have been completed in accordance with instructions, and any significant reconciliation items have been explained.
    [ ]Part G has been completed in accordance with instructions, and any significant reconciliations have been explained.
    [ ]I have made a copy of this form for my records.
    Name of person completing this form:..............................Telephone number: .......................
    Signature: .............................................................Facsimile number: .......................

    Balance of Payments Survey ITRS Form 4B—Bank’s Record of Transactions

    Bank NameBank Reference NumberMonth and Year
    Own Account Transactions of Bank
    A
    Foreign Currency Accounts of Residents
    B
    Large Transactions of Residents (a)
    C
    Transactions of Security Dealers & Managers
    D
    Small Transactions of Residents (b)
    E
    Nonresident Accounts–Banks
    F
    Nonresident Accounts–Nonbanks
    G
    Currency code
    Payments
    Receipts
    Day and month//////////////////////////////////////////////////////
    Reference number of transaction//////////////////
    //////////////////
    //////////////////
    //////////////////
    //////////////////
    //////////////////
    //////////////////
    //////////////////
    //////////////////
    Resident transactor code//////////////////
    //////////////////
    //////////////////
    //////////////////
    //////////////////
    //////////////////
    //////////////////
    //////////////////
    Value

    Transactions of $G 10,000 or larger

    Transactions of less than $G 10,000

    ITRS Form 5—Enterprises

    General Notes and Instructions for ITRS Form 5—Enterprises

    1. The International Transactions Reporting System (ITRS) collects data from enterprises via several forms. The main form is the ITRS Form 5—Enterprises, which enterprises are required to complete and return to the Gondwanaland Ministry of Statistics each month. ITRS Form 3C—Classifications contains the codes and descriptions necessary to complete form 5. ITRS Form 5E—Example is a hypothetical form 5 that has been completed to provide you with a better understanding of this form. Other ITRS forms supplement form 5; these will be explained as the need arises.

    2. A nonresident is an individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are regarded as residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are regarded as nonresidents.

    3. ITRS Form 5—Enterprises collects monthly data on balance of payments transactions from enterprises with foreign currency accounts at resident banks and/or with accounts, denominated in any currency, at nonresident banks. In addition, form 5 collects data on other claims on, or liabilities to, nonresidents.

    4. A separate form 5 should be completed for each foreign currency account that your enterprise has at a resident bank and each account at a nonresident bank—unless other arrangements have been made with the Gondwanaland Ministry of Statistics.

    5. Form 5 collects data on payments and receipts passing through particular bank accounts of your enterprise. Separate entries should be recorded for each transaction of $G 10,000 or more; smaller transactions may be combined. When several transaction codes apply to a receipt or a payment or result from payments being partly offset against receipts (or vice versa), the underlying gross transactions should be recorded. (See ITRS Form 3C—Classifications for more information on multi-payment transactions.) Similarly, offset transactions (also described on form 3C) that do not result in bank account entries but otherwise affect your enterprise’s external asset or liability positions should also be recorded. Should your enterprise conduct offset transactions denominated in currencies (including Gondwanaland dollars) for which a form 5 is not already being completed, you should recorded such transactions on a separate form 5.

    6. Form 5 can be used as a pro forma for supplying relevant data in computer readable form, or information may be entered on the form itself. If space to record all transactions is insufficient, please be sure to attach the additional details.

    Completing ITRS Form 5

    Part A

    7. The company reference number is listed on page one of this form. The currency code classification is included in ITRS Form 3C—Classifications. Month and year should be entered as a four-digit number (e.g., 0494 for April 1994).

    Part B

    8. Day should be recorded as a two-digit number (e.g., 02 for the second day of the month). The number of the first transaction recorded each day should be 001; successive three-digit numbers should be used for subsequent transactions. The transaction code, the transaction type, the other party code, and the country code should be taken from ITRS Form 3C—Classifications.

    9. To limit the reporting burden and processing costs, data should be reported in thousands or millions of currency units and small transactions should be combined. For certain types of transactions (namely, multi-payment and offset transactions), it is necessary to identify the underlying transactions and report them on a gross basis. (See note 5.)

    10. In columns G and I where values should be expressed in Gondwanaland dollars, transactions should be converted at the midpoint of the buy and sell rates applicable on the date of the transaction.

    Parts C and D

    11. Parts C and D facilitate reconciliation and verification of data supplied in part B. Any significant reconciliation amounts or unusual exchange rates should be explained.

    Part E

    12. The asset/liability code should be selected from codes 710 through 790 for assets and 810 through 890 for liabilities from the transaction codes on form 3C. The nonresident party code should be taken from the other party codes on from 3C. The country code should be taken from the relevant listing on form 3C. One line should be used for each asset/liability, nonresident party, and country combination. For example, if your enterprise held a portfolio of equity securities in a nonbank enterprise in the United States and had long-term U.S. dollar loans from banks in the United States and United Kingdom, these three entries should be made:

    ABC
    7107001
    8506001
    8506002

    13. In column A, 710 represents shares in nonresident enterprises, and 850 represents long-term loan liabilities to nonresidents. In column B, 7 represents a nonresident nonbank entity, and 6 represents a nonresident bank. In column C, 001 represents the United States, and 002 represents the United Kingdom.

    14. Not all of your enterprise’s payments to, and receipts from, nonresidents will be reported in part B as some payments may have been made through foreign exchange orders with domestic banks. These transactions should be reported on ITRS forms 3P and 3R, which will be provided to you by your bank. However, for purposes of reconciliation, any effect that these payments and receipts have on the external assets and liabilities of your enterprise must be reported in columns H and I.

    Part F

    15. This section of the form collects, for payments made through accounts covered by form 5, information on goods imported and exported during the month and on payments made during the month. As delivery and payments may occur in different months, goods reported in columns D, E, and F may not correspond with those recorded in column G. As the value in your books may differ from the cost insurance and freight (c.i.f) and the free on board (f.o.b.) values required for balance of payments purposes, you are requested to provide these bases of valuation, even if some degree of estimation is required. Country of consignment is the country from which your imports were initially dispatched. Country of destination is the country to which you expect to make final delivery of your exports. The relevant country codes from ITRS Form 3C—Classifications should be used. Please note that all amounts in foreign currencies should be converted at the midpoint of the buy and sell rates applicable on the date of the transaction.

    Part G

    16. This section is included to assist you in checking the form before you return it.

    Balance of Payments Survey ITRS Form 5—Enterprises

    Transactions Through Foreign Currency Accounts at Resident Banks, Accounts at Nonresident Banks, and Offset Transactions

    Part A. Reference Information

    Enterprise NameEnterprise Reference NumberAccount NumberCountry in Which Account is HeldCurrency CodeMonth and Year

    Part B. Payments and Receipts

    • All amounts reported in columns F, G, H, and I should be in thousands—except for lira or yen, which should be reported in millions in columns F and H.

    • Small transactions—that is, transactions of less than the equivalent of $G 10,000 Gondwanaland—should be combined and reported as single transactions. These should be coded with the most appropriate transaction code.

    • In the case of multi-payment and offset transactions (see note 5 of the instructions for form 5), underlying gross amounts should be recorded.

    Day
    A
    Number
    B
    Transaction Code
    C
    Transaction Description
    D
    Transaction Type
    E
    Payment (foreign currency)
    F
    Payment (Gondwanaland dollars)
    G
    Receipt (foreign currency)
    H
    Receipt (Gondwanaland dollars)
    I
    Other Party Code
    J
    Other Party Country Code
    K
    001
    Total////////////////////////////////////////////////////////////////////////////////////

    Part C. Reconciliation with Bank Balance

    (Report in thousands, or millions in the case of lira and yen, of currency units)

    Closing Account Balance for This Month (in foreign currency)
    A
    Closing Account Balance for Previous Month (in foreign currency)
    B
    Total Payments (as recorded in column F of part B)
    C
    Total Receipts (as recorded in column H of part B)
    D
    Reconciliation
    (A - B + C - D)
    E

    Please explain any significant reconciliation items........................................................................................

    ....................................................................................................................................................................

    Part D. Exchange Rate Check

    Please record the average implied exchange rates used in part B:

    • for payments ................ (Total in column F / Total in column G)

    • for receipts ................ (Total in column H / Total in column I)

    Please explain any unusual exchange rates............................................................

    .................................................................................................................................

    Part E. Other External Assets and Liabilities Position

    • Report details of claims (other than accounts at nonresident banks) on, and liabilities to, nonresidents.

    • Report in thousands, or millions in the case of yen or lira, of currency units.

    • A separate line should be used to record each asset/liability code, nonresident party code, and country code combination. (See note 12 of the instructions for form 5.)

    Asset/ Liability Code
    A
    Nonresident Party Code
    B
    Country Code
    C
    Closing Position for This Month
    D
    Closing Position for Previous Month
    E
    Payments Recorded in Part B
    F
    Receipts Recorded in Part B
    G
    Payments Made Elsewhere
    H
    Receipts from Elsewhere
    I
    Reconciliation (a)
    J

    For assets, J = D - E + F - G + H - I. For liabilities, J = D - E - F + G - H + I.

    Please explain any significant reconciliation items........................................................................................

    ....................................................................................................................................................................

    Part F. Supplementary Data on Trade Transactions

    (Report in thousands of Gondwanaland dollars)

    Description
    of Goods
    A
    Import/ Export Code
    B
    Country of
    Consignment or Destination
    C
    Value of Goods ShippedPayments
    Made During Month
    G
    Book Value (a)
    D
    C.i.f Value
    E
    F.o.b. Value
    F
    Imports of Goods
    Exports of Goods
    //////////////////
    //////////////////
    //////////////////

    As recorded in your books.

    Please verify that the totals of payments and receipts, which are recorded in column G, are equal to the total of the corresponding amounts for goods recorded in columns G and I in part B.

    Part G. Final Questions

    Please verify that the form has been completed correctly and mark the following boxes.

    [ ]The information in part A of the form is correct.
    [ ]Part B of the form has been completed in accordance with instructions; in particular, multi-payment and offset transactions have been reported on a gross basis. The totals for columns F, G, H, and I have been entered.
    [ ]Part C has been completed in accordance with instructions, and any significant reconciliation items have been explained.
    [ ]Exchange rates have been calculated in part D, and the average exchange rates derived show that each transaction has been converted correctly. Any unusual exchange rates have been explained.
    [ ]Part E has been completed in accordance with instructions, and any large reconciliations have been explained.
    [ ]Part F has been completed, and the total of import and export payments, which are recorded in column G, agree with the values of goods reported columns G and I in part B of the form.
    [ ]I have made a copy of this form for my records.
    Name of person completing this form:.............................Telephone number: ........................
    Signature: ..................................................................Facsimile number: ...........................

    Form 6—Goods

    Instructions for Completing Form 6—Goods

    Reporting Instructions

    Form 6 should be completed for the enterprise (and any subsidiaries in Gondwanaland) listed on page one of the form—unless different arrangements have been made with the Gondwanaland Ministry of Statistics.

    Residents and Nonresidents

    A nonresident is any individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are nonresidents.

    Conversion to Gondwanaland Dollars

    All values should be reported in thousands of Gondwanaland dollars. Foreign currencies should be converted to Gondwanaland dollars at the midpoint of the buy and sell rates applicable on the date of the transaction.

    Structure of Form 6

    Form 6 collects information on the goods transactions of this enterprise and its Gondwanaland subsidiaries with nonresidents.

    • Parts A and B collect data on exports and imports—that is, goods sold to nonresidents and sent abroad (exports) and goods purchased from nonresidents and brought into Gondwanaland (imports).

    • Parts C and D collect details of goods for processing. Part C is concerned with goods shipped abroad for processing; part D is concerned with goods processed in Gondwanaland.

    • Part E covers repairs to goods owned by nonresidents, and part F covers repairs by nonresidents to goods owned by your enterprise.

    • Part G is concerned with merchanting transactions—that is, transactions in which goods that are bought and sold by your enterprise (and its subsidiaries) do not enter Gondwanaland.

    • Parts H (exports) and I (imports) measure significant differences between date of sale and date of shipment. The details, if any, to be included in these sections are explained in the correspondence accompanying form 6.

    • Parts J (export) and K (import) pertain to projections. You should complete these parts only if the Gondwanaland Ministry of Statistics has asked your enterprise to do so.

    Completing Part A (Exports of Goods)

    In column A, enter a description of the commodity exported by your enterprise (and its subsidiaries) and, in columns E to I, the countries in which final delivery of the goods is expected. One row should be completed for each commodity. Please note that the sum of columns E through I should equal column D. The free on board (f.o.b.) value is the value of goods at the point of departure from the exporting country (in this case, Gondwanaland), and the f.o.b. value includes the cost of loading the goods prior to transportation. If the response to item 6 is $G 500 or less, record a dash (—).

    Completing Part B (Imports of Goods)

    Record the free on board (f.o.b.) value and the cost, insurance, and freight (c.i.f.) values for each commodity group that your enterprise (and its subsidiaries) imports. The f.o.b. value is the value of goods when they leave the exporting country; the f.o.b. value includes the cost of loading the goods prior to transportation. The c.i.f. value is the value of goods delivered to the border of the importing country (in this case, Gondwanaland). If you are in doubt about the commodity group for a particular import, please contact the Gondwanaland Ministry of Statistics or describe details in the space provided on the form. The country from which the goods were initially dispatched (consigned) should be entered in columns C through G, and the sum of those columns should equal column B. If the answer to question 11 or 12 is $G 500 or less, record a dash (—).

    Completing Parts C and D (Goods for Processing)

    In parts C and D, please report details about goods sent abroad for processing, or received from abroad for processing, by your enterprise (and its subsidiaries). A new row should be completed for each commodity and country. The term c.i.f. is described in the previous paragraph. In column H, include the value of processing. Enter the totals of rows 1 and 2 in row 3 and verify that the change in stock of material held at the beginning and end of the quarter (column D less column C) equals goods shipped for processing (column E), less goods returned (column F), less goods sold (column G), plus the value of processing (column H).

    Completing Parts E and F (Repairs to Goods)

    A separate line should be completed for each commodity and country. In part F, any associated transportation and insurance costs should be reported separately.

    Completing Part G (Merchanting)

    A separate line should be completed for each commodity and country combination. For example, if a commodity is bought from a resident of one country, held in a second country, and sold to a resident of a third country, a separate line should be used to record the purchase (columns A, B, and E), the stock position (columns A, B, C, and D), and the sale (columns A, B, F, and G). Please verify that the total change in stock (row 5, column D less row 5, column C) equals goods purchased (row 5, column E) less the value, at purchase cost, of goods sold (row 5, column F).

    Completing Parts H through K (Selective Commodity Analysis and Projections)

    If the Gondwanaland Ministry of Statistics has requested that your enterprise complete parts H through K, please do so in accordance with the instructions provided separately by the ministry. If your enterprise has not been asked to supply such information, you may omit reporting in parts H through K.

    Form 6—Goods

    Part A. Goods Sold to Nonresidents and Exported from Gondwanaland During the Quarter

    (Report in thousands of Gondwanaland dollars and, where appropriate, specify quantity)

    VolumeF.o.b. Value
    Country of Final Delivery
    Commodity DescriptionAmountUnits
    (specify)
    Total
    ABCDEFGHI
    1.
    2.
    3.
    4.
    5.

    6. Please report, for the quarter, the value of any goods exported from Gondwanaland but lost before delivery. $G’000

    Part B. Goods Purchased from Nonresidents and Imported to Gondwanaland During the Quarter

    (Report in thousands of Gondwanaland dollars)

    F.o.b. Value
    A
    C.i.f. Value
    Country of Initial Dispatch (specify)
    Commodity GroupTotal
    B
    CDEFG
    1. Food, live animals, beverages, and tobacco
    2. Mineral, fuels, and lubricants
    3. Chemical, plastic, medical, pharmaceutical, and rubber products, and fertilizers
    4. Wood, paper, and products thereof
    5. Textiles, clothing, and footwear
    6. Machinery, office and communications equipment, and other electrical goods, including spare parts
    7. Vehicles and transport equipment, including spare parts
    8. Metal and metal products not included elsewhere
    9. All other goods
    10. Total/////////////////////////////////////////////

    If you are unable to assign goods to a particular commodity, please provide details.

    .............................................................................................................................................................................................

    .............................................................................................................................................................................................

    11.Of the amount reported in row 10, column B, how much was for insurance premiums?$G’000
    12.How much was received in respect of insurance claims for goods purchased abroad and lost before arrival in Gondwanaland?$G’000

    Part C. Goods Sent Abroad for Processing

    (Report in thousands of Gondwanaland dollars)

    Value of Goods Held AbroadGoods Shipped During the Period
    Commodity Description
    A
    Country of Processing
    B
    Opening Stock
    C
    Closing Stock
    D
    Sent Abroad c.i.f.
    E
    Returned c.i.f.
    F
    Value of Goods Sold Abroad
    G
    Value of Processing During the Period
    H
    1.
    2.
    3.Total/////////////

    4. Of the amount reported in row 3, columns E and F, please show:

    Column EColumn F
    a. Freight costs
    b. Insurance costs

    Part D. Goods Sent from Abroad for Processing in Gondwanaland

    (Report in thousands of Gondwanaland dollars)

    Value of Goods HeldGoods Shipped During the Period
    Commodity Description
    A
    Country of Ownership of Goods
    B
    Opening Stock
    C
    Closing Stock
    D
    From Abroad c.i.f.
    E
    Returned f.o.b.
    F
    Value of Goods Sold in Gondwanaland
    G
    Value of Processing During the Period
    H
    1.
    2.
    3. Total/////////////

    4. Of the amounts reported in column E, please show:

    a. Freight costsb. Insurance costs

    Part E. Value of Fees for Repairs to Goods Received from Nonresidents During the Quarter

    (Report in thousands of Gondwanaland dollars)

    Commodity Description
    A
    Country of Ownership of Goods
    B
    Value of Repairs
    C
    1.
    2.

    Part F. Value of Fees for Repairs to Goods Paid to Nonresidents During the Quarter

    (Report in thousands of Gondwanaland dollars)

    Commodity Description
    A
    Country in Which Goods were Repaired
    B
    Value of Repairs
    C
    Transportation Costs
    D
    1.
    2.
    3.

    Part G. Merchanting *

    (Report in thousands of Gondwanaland dollars)

    Value of Goods Held AbroadValue of Goods Purchased and Sold During Period
    Commodity Description
    A
    Country
    B
    Opening Stock
    C
    Closing Stock
    D
    Goods Purchased
    E
    Value of Goods Sold
    Purchase Cost
    F
    Selling Price
    G
    1.
    2.
    3.
    4.
    5. Total/////////////////

    Goods that are bought and sold abroad and do not enter Gondwanaland

    Part H. Selective Commodity Analysis—Goods Exported During the Quarter

    (Report in thousands of Gondwanaland dollars)

    Commodity Description
    A
    Country of Final Delivery
    B
    F.o.b. Value of Goods Sold
    C
    F.o.b. Value of Goods Shipped
    D
    1.
    2.

    Part I. Selective Commodity Analysis—Goods Exported During the Quarter

    (Report in thousands of Gondwanaland dollars)

    Commodity Description
    A
    Country of Initial Dispatch
    B
    F.o.b, Value of Goods Purchased
    C
    F.o.b. Value of Goods Delivered
    D
    1.
    2.

    Part J. Export Projections

    (Report value in thousands of Gondwanaland dollars and specify unit of quantity)

    Commodity (specify)ValueVolumeUnits1994 Q21994 Q31994 Q41995 Q1
    1.
    2.
    3.

    Part K. Import Projections

    (Report value in thousands of Gondwanaland dollars and specify unit of quantity)

    Commodity (specify)ValueVolumeUnits1994 Q21994 Q31994 Q41995 Q1
    1.
    2.
    3.

    Part L. Revisions to Previously Reported Data

    Please provide details of any significant revisions to data previously reported incorrectly.

    .............................................................................................................................................................................................

    .............................................................................................................................................................................................

    Part M. Final Questions

    Please verify that the form has been correctly completed; mark the following boxes and strike out the inappropriate phrases.

    [ ]The name of the enterprise shown on page one is correct./I have corrected the name and address on page one.
    [ ]Details about the contact person have been entered on page one.
    [ ]Responses cover all transactions in goods of the enterprise named on page one and its subsidiaries in Gondwanaland./The following activities have not been included:............................................................................................................................
    ............................................................................................................................................................................................
    [ ]The information in part A of the form has been completed in accordance with instructions.
    [ ]The information in part B of the form has been completed in accordance with instructions.
    [ ]The information in parts C and D of the form has been completed in accordance with instructions.
    [ ]The information in parts E and F of the form has been completed in accordance with instructions.
    [ ]The information in part G of the form has been completed in accordance with instructions.
    [ ]Parts H through K are not applicable to this enterprise and its subsidiaries./Parts H through K of the form have been completed in accordance with any special instructions supplied by the Gondwanaland Ministry of Statistics.
    [ ]There are no significant revisions to data for previous periods./Details of significant revisions to data for previous periods have been included in part L.
    [ ]I have made a copy of this form for my records.

    Name of person completing this form: .........................................................................................................................................

    Signature: ...................................................................................................................................................................................

    Form 7—Resident Transport Operators

    Instructions for Completing Form 7—Resident Transport Operators

    Reporting Instructions

    Form 7 should be completed for the enterprise (and any subsidiaries in Gondwanaland) listed on page one of the form—unless different arrangements have been made with the Gondwanaland Ministry of Statistics.

    Residents and Nonresidents

    A nonresident is any individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are nonresidents.

    Conversion to Gondwanaland Dollars

    All values should be reported in thousands of Gondwanaland dollars. Foreign currencies should be converted to Gondwanaland dollars at the midpoint of the buy and sell rates applicable on the date of the transaction.

    Structure of Form 7

    Form 7 collects information on the international transportation activities of this enterprise and its Gondwanaland subsidiaries. Part A collects selected earning and expense data. Part B collects information on expected purchases of large equipment. Part C requests selected details of ticket sales to resident travelers on international routes.

    Partner Country

    Part A of form 7 requests information on earnings and expenses by country. The countries in which earnings or expenses were incurred should be indicated. (Transactions with residents of Gondwanaland should be recorded as such in sections 2a and 2b of part A.) Part C requests information on amounts of revenue earned by other nonresident airlines on passenger ticket sales by your enterprise. The country of residence of the nonresident transport operator should be recorded.

    Passenger Fares (Item 1)

    Amounts reported should include passenger fares earned, for the categories of persons shown in the table, by your enterprise and its subsidiaries. Earnings from the charter of transport equipment with crew (to carry passengers) and from accompanied luggage (excess baggage) should be included. Earnings should be recorded on a gross basis—that is, before any deduction of commissions on ticket sales. Such commissions should be regarded as expenses and reported in item 8.

    Freight Services (Item 2)

    Amounts reported should include earnings by this enterprise and its subsidiaries from the carriage of goods (freight) and from the charter of transport equipment with crew (to carry goods). Earnings should be recorded on a gross basis—that is, before any deduction of commissions to freight agents. Such commissions should be regarded as expenses and reported in item 9.

    Charter of Equipment without Crew (Items 3b and 10)

    Amounts reported should cover payments associated with charter of transport equipment without crew—except for transport equipment under a financial lease.

    Agent Fees on Passenger Fares (Item 8)

    Amounts reported should include fees paid to nonresidents in respect of passenger fares earned.

    Passenger Fare Ticket Sales to Residents (Part C)

    These data are required to estimate earnings and associated expenses of nonresident operators on passenger services provided to resident travelers. In item 14, data on ticket sales (less refunds) to resident travelers for international routes should be reported. In item 15, revenue paid to nonresident operators on tickets sold by your enterprise should be reported. All amounts should be reported before deduction of commissions on ticket sales. Commissions earned by your enterprise on revenue reported in item 15 should be recorded in item 16 rather than item 3.

    Form 7—Resident Transport Operators

    Part A. Selected Earnings and Expenses

    (Report in thousands of Gondwanaland dollars)

    Earnings and Expenses by Country (specify)
    Total
    A
    BCDEF
    Selected Transportation Earnings
    1.Passenger fares earned from:
    a. Nonresident travelers on international routes
    b. Nonresident travelers on domestic routes
    c. Resident travelers on international routes/////////////////////////////////////////////
    2.Earnings from freight services on:
    a. Imports to Gondwanaland
    b. Exports from Gondwanaland
    c. Operations in Gondwanaland for nonresidents
    d. Other foreign routes
    3.Other selected earnings from abroad:
    a. Inward mail
    b. Charter of equipment without crew
    c. Other (specify........................)
    Selected Transportation Expenses Abroad
    4.Fuel (bunkers)
    5.Provisions (catering)
    6.Loading and unloading charges (stevedoring)
    7.Port charges, taxes, and landing fees
    8.Agent fees on passenger fares
    9.Other agent fees
    10Charter of vessels without crew
    11Advertising abroad
    12Other expenses abroad (specify................................)

    Part B. Expected Equipment Purchases

    13. Please give details of any purchases of large equipment (e.g., aircraft, ships) that you expect to take delivery of in the next two years. Include the acquisition of equipment under financial lease and similar arrangements.
    ...............................................................................................................................................................................................
    ...............................................................................................................................................................................................

    Part C: Passenger Fare Ticket Sales to Residents on International Routes

    (Report in thousands of Gondwanaland dollars)

    Country of Residence of Nonresident Operator (specify)
    Total
    A
    BCDEF
    14.Ticket sales (less refunds) made, during the quarter, to resident travelers on international routes///////
    ///////
    /////////
    /////////
    /////////
    /////////
    /////////
    /////////
    /////////
    /////////
    15.Revenue earned, during the quarter, by nonresident transport operators on tickets issued by your enterprise
    16.Commission earned by your enterprise on amounts reported in item 15

    Part D. Revisions to Previously Reported Data

    Please provide details of any significant revisions to data previously reported incorrectly.

    .............................................................................................................................................................................................

    .............................................................................................................................................................................................

    Part E. Final Questions

    Please verify that the form has been correctly completed; mark the following boxes and strike out inappropriate phrases.

    [ ]The name of the enterprise shown on the page one is correct./I have corrected the name and address on page one.
    [ ]Details of the contact person have been entered on page one.
    [ ]The information in parts A, B, and C has been completed in accordance with the instructions.
    [ ]There are no significant revisions to data for previous periods./Details of significant revisions to data for previous periods have been included in part D.
    [ ]I have made a copy of this form for my records.

    Name of person completing this form: .......................................................................................................................................

    Signature: ..................................................................................................................................................................................

    Form 8—Transactions with Nonresident Transport Operators

    Instructions for Completing Form 8—Transactions with Nonresident Transport Operators

    Reporting Instructions

    Form 8 should be completed for the enterprise (and any subsidiaries in Gondwanaland) listed on page one of the form—unless different arrangements have been made with the Gondwanaland Ministry of Statistics.

    Residents and Nonresidents

    A nonresident is any individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are nonresidents.

    Conversion to Gondwanaland Dollars

    All values should be reported in thousands of Gondwanaland dollars. Foreign currencies should be converted to Gondwanaland dollars at the midpoint of the buy and sell rates applicable on the date of the transaction.

    Structure of Form 8

    Form 8 collects information on the transactions of this enterprise and its Gondwanaland subsidiaries with nonresident transport operators, including foreign airlines, ships, railways, fishing vessels, etc.

    Part A, which is divided into two subsections, collects data on goods and services provided to nonresident transport operators. In items 1 through 8, report goods and services that your enterprise provides to nonresidents and for which your enterprise arranges settlement directly with a nonresident transport operator or the nonresident agent thereof. Information on settlements made through other resident enterprises will be collected directly from them. In items 9 through 16, report goods and services that are acquired by nonresident transport operators from other residents and for which settlement is made through your enterprise or its subsidiaries.

    Part B collects data on the ticket sales of, and revenue earned by, nonresident transport operators. This part should be completed by branch offices or principal agents for nonresident transport operators.

    Part C collects data on selected earnings, such as those from the provision of freight services within Gondwanaland (inland freight), of nonresident transport operators and other payments to nonresident operators—apart from passenger services and freight services provided on imports and exports). This part should be completed by branch offices or principal agents for nonresident transport operators.

    Country

    The country of residence of the nonresident operator should be recorded in several sections of form 8.

    Passenger Fares (Items 17 and 18)

    Item 17 requests data on the value of ticket sales (less refunds) made by nonresident transport operators to Gondwanaland resident travelers. Item 18 requests information on passenger revenue earned by nonresident transport operators from tickets sold (irrespective of which operator sold the ticket) to residents of Gondwanaland. (A ticket sold by one operator may be used on another operator’s service and thereby generate revenue for the second operator.) If your enterprise is a branch or agent of the first operator, the ticket sale should be reported in item 17. If your enterprise is a branch or agent of the second operator, the ticket sale should be reported in item 18. Fares should be recorded on a gross basis—that is, before deduction of commissions. Commissions paid by nonresident transport operators on ticket sales should be recorded in part A. Revenue includes earnings from the charter of transport equipment with crew (to carry passengers) and from accompanied luggage (excess baggage).

    Form 8—Transactions with Nonresident Transport Operators

    Part A. Goods and Services Provided to Nonresident Transport Operators

    (Report in thousands of Gondwanaland dollars)

    Country of Residence of Operator (specify)
    Total
    A
    BCDEF
    Provided by Your Enterprise and Settlements Made Directly with Nonresidents
    1. Fuel (bunkers)
    2. Provisions (catering)
    3. Loading and unloading charges (stevedoring)
    4. Port charges, taxes, and landing fees
    5. Agent fees on passenger ticket sales
    6. Other agent fees
    7. Advertising
    8. Other (please specify.......................)
    Provided by Other Resident Enterprises and Settlements Made Through Your Enterprise
    9. Fuel (bunkers)
    10. Provisions (catering)
    11. Loading and unloading charges (stevedoring)
    12. Port charges, taxes, and landing fees
    13. Agent fees on passenger ticket sales
    14. Other agents’ fees
    15. Advertising
    16. Other (please specify.......................)

    Part B. Passenger Revenue Earned by Nonresident Transport Operators from Carriage of Resident Travelers

    (Report in thousands of Gondwanaland dollars)

    Country of Residence of Operator (specify)
    Total
    A
    BCDE
    17. Passenger ticket sales (less refunds) made during the quarter by nonresident transport operators to resident travelers in the quarter
    18. Passenger fare revenue earned during the quarter by nonresident transport operators

    Part C. Selected Earnings of Nonresident Transport Operators from Residents

    (Report in thousands of Gondwanaland dollars)

    Country of Residence of Operator (specify)
    Total
    A
    BCDE
    19. Inland freight—that is, the carriage of goods, including those carried to and from the border, within Gondwanaland
    20. Mail
    21. Other (excluding freight, passenger, and charter services) Please specify: ..........................

    Part D. Revisions to Previously Reported Data

    Please provide details of any significant revisions to data previously reported incorrectly.

    .............................................................................................................................................................................................

    .............................................................................................................................................................................................

    Part E. Final Questions

    Please verify that the form has been correctly completed; mark the following boxes and strike out inappropriate phrases.

    [ ]The name of the enterprise shown on the page one is correct./I have corrected the name and address on page one.
    [ ]Details of the contact person have been entered on page one.
    [ ]The information in parts A, B, and C has been completed in accordance with the instructions.
    [ ]There are no significant revisions to data for previous periods./Details of significant revisions to data for previous periods have been included in part D.
    [ ]I have made a copy of this form for my records.

    Name of person completing this form: .........................................................................................................................................

    Signature: ....................................................................................................................................................................................

    Form 9—International Travel

    Instructions for Completing Form 9—International Travel

    Reporting Instructions

    Form 9 should be completed for the enterprise (and any subsidiaries in Gondwanaland) listed on page one of the form—unless different arrangements have been made with the Gondwanaland Ministry of Statistics.

    Residents and Nonresidents

    A nonresident is any individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are nonresidents.

    Travelers

    Travelers are persons who stay, for work and other purposes, in countries other than those in which they are residents. Normally, a person staying in a country for less than 12 months should be regarded as a traveler. Students and medical patients should, regardless of their length of stay in the host country, be regarded as travelers. Officials of foreign governments stationed at embassies and similar institutions are not regarded as travelers.

    Conversion to Gondwanaland Dollars

    All values should be reported in thousands of Gondwanaland dollars. Foreign currencies should be converted to Gondwanaland dollars at the midpoint of the buy and sell rates applicable on the date of the transaction.

    Structure of Form 9

    Form 9 collects information on the international travel transactions of this enterprise and its Gondwanaland subsidiaries.

    • Part A should be completed by enterprises issuing travelers’ checks and making settlements abroad for travelers’ check transactions.

    • Part B should be completed by enterprises issuing credit and debit cards or by enterprises making settlements abroad for credit and debit card transactions.

    • Part C should be completed by tour wholesalers and enterprises making or receiving prepayments, advances, or travel settlements (apart from amounts settled with travelers’ checks and credit and debit cards). Amounts for passenger fares for travel on international routes should be excluded.

    • Part D should be completed by hotels that provide lodging or other services to international travelers. Part D should include amounts received from supplementary hotel operations (such as gift shops) and amounts received from nonresident travelers and used to acquire, on behalf of these travelers, goods and services from other resident enterprises.

    • Part E should be completed by travel-related enterprises (such as restaurants, car rental agencies, gift shops, duty free shops, entertainment centers, casinos, etc.) providing, to nonresident travelers, goods and services for which settlements were made directly between the travel-related enterprise and nonresident travelers or enterprises. Payments passing through other resident enterprises (such as hotels) should be excluded.

    Country

    In parts A, B, and C, you are requested to classify transactions by country of the nonresident counterparty. In parts D and E, you should report the country of residence of the nonresident traveler.

    Travelers’ check and credit and debit card transactions

    Travelers’ checks and credit and debit card transactions should be recorded at the face value of the transaction. Any fees earned or paid abroad should be separately recorded.

    Form 9—International Travel

    Part A. Selected Travelers’ Check Transactions

    (Report in thousands of Gondwanaland dollars)

    Total
    A
    Transactions by Country (specify)
    BCDEF
    1. Travelers’ checks issued abroad by your enterprise and used in Gondwanaland during the quarter
    2. Travelers’ checks issued in Gondwanaland by your enterprise and presented for collection by nonresident banks during the quarter
    3. Travelers’ checks issued (less refunds) in Gondwanaland on behalf of nonresident banks during the quarter
    4. Travelers’ checks issued abroad by other enterprises, purchased by your enterprise, and sent for collection to nonresident banks during the quarter
    5. Earnings from abroad on travelers’ check transactions during the quarter
    6. Fees paid abroad for travelers’ check transactions during the quarter

    Part B. Selected Credit and Debit Card Transactions

    (Report in thousands of Gondwanaland dollars)

    Total
    A
    Transactions by Country (specify)
    BCDEF
    7. Expenditure by nonresident travelers in Gondwanaland during the quarter
    8. Expenditure by Gondwanaland residents traveling abroad during the quarter
    9. Earnings from abroad on credit and debit card transactions during the quarter
    10. Fees paid abroad on credit and debit card transactions during the quarter

    Part C. Prepaid and Advance Purchase Tours and Other Travel Settlements

    (Report in thousands of Gondwanaland dollars)

    Amounts in respect of international airline travel should be excluded.

    Total
    A
    Transactions by Country (specify)
    BCDEF
    11. Amounts received from abroad during the quarter for prepaid and advance purchase tours
    12. Amounts paid abroad during the quarter for prepaid tours and advance purchase tours
    13. Amounts received from abroad during the quarter for other travel settlements (please specify...............................................................)
    14. Amounts paid abroad during the quarter for other travel settlements (please specify ..............................................................)
    15. Commissions received from abroad during the quarter
    16. Commissions paid abroad during quarter

    Part D. Nonresident Travelers Staying at Hotels

    (Report in thousands of Gondwanaland dollars)

    Total
    A
    Country of Residence of Traveler (specify)
    BCDEF
    17. Number of nonresident travelers lodging at the hotel during the quarter
    18. Number of nights that nonresident travelers lodged at the hotel during the quarter
    19. Amount paid, during the quarter, for accommodation by nonresident travelers
    20. Amount paid, during the quarter, for other goods and services provided by the hotel to nonresident travelers
    21. Amount paid, during the quarter, by the hotel to other resident enterprises for goods and services provided to nonresident travelers

    Part E. Other Purchases of Goods and Services by Nonresident Travelers

    (Report in thousands of Gondwanaland dollars)

    Total
    A
    Country of Residence of Traveler (specify)
    BCDEF
    20. Value of goods and services that were provided, during the quarter, to nonresident travelers and for which payment was made directly by nonresident travelers or enterprises

    Part F. Revisions to Previously Reported Data

    Please provide details of any significant revisions to data previously reported incorrectly.

    .............................................................................................................................................................................................

    .............................................................................................................................................................................................

    Part G. Final Questions

    Please verify that the form has been correctly completed; mark the following boxes and strike out inappropriate phrases.

    [ ]The name of the enterprise shown on the page one is correct./I have corrected the name and address on page one.
    [ ]Details about the contact person have been entered on page one.
    [ ]The information in parts A through E has been completed in accordance with the instructions.
    [ ]There are no significant revisions to data for previous periods./Details of significant revisions to data for previous periods have been included in part F.
    [ ]I have made a copy of this form for my records.

    Name of person completing this form: ............................................................................................................................................

    Signature: ......................................................................................................................................................................................

    Form 10—International Services

    Instructions for Completing Form 10—International Services

    Reporting Instructions

    Form 10 should be completed for the enterprise (and any subsidiaries in Gondwanaland) listed on page one of the form—unless different arrangements have been made with the Gondwanaland Ministry of Statistics.

    Residents and Nonresidents

    A nonresident is any individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are nonresidents.

    Conversion to Gondwanaland Dollars

    All values should be reported in thousands of Gondwanaland dollars. Foreign currencies should be converted to Gondwanaland dollars at the midpoint of the buy and sell rates applicable on the date of the transaction.

    Structure of Form 10

    Form 10 collects quarterly information on selected international service transactions of this enterprise and its subsidiaries.

    Parts A and B cover services (except insurance, transportation, and travel services) provided to and received from nonresidents. International insurance transactions should be reported in parts C, D, and E. (Details of transportation and travel transactions are collected through other survey forms.) Parts C and D should be completed by insurance enterprises; part E should be completed by all other enterprises engaging in insurance transactions.

    Country

    Each question seeks information on country of transaction. Record the country of residence of the nonresident transactor.

    Services Included

    Services, which are products other than tangible goods, include communications, advertising, accounting, and management consulting. Services do not include wages, profits, dividends, or interest. Transportation and travel services should not be included as information on these items is collected through other survey forms.

    Services provided to nonresidents include those for which payment is made directly to your enterprise by a nonresident entity (including a foreign affiliate of your enterprise). Record services provided by your enterprise, its employees abroad, or some other resident entity on whose behalf your enterprise receives payment. Exclude services that are provided to nonresidents by your enterprise and paid for through other unrelated resident entities; however, report the names and addresses of these entities in your response to question 43.

    Services received from nonresidents include all services provided by nonresidents and paid for directly by your enterprise, its subsidiaries, or its employees. Exclude services that are provided by nonresidents to your enterprise or its subsidiaries and paid for, on your behalf, by other unrelated resident entities; however, record the names and addresses of these entities in your response to question 43.

    Because form 10 seeks information on transactions between residents and nonresidents, you should not report services provided to nonresidents by nonresident branches and subsidiaries of your enterprise. However, you should report services provided by your enterprise to related enterprises abroad and services provided by related enterprises abroad to your enterprise. If determinations between branch activities and head office activities prove difficult, or if you are uncertain about whether a particular transaction should be included, please call Mr. Fossum at (202) 623-7942 for assistance.

    Individual Service Categories

    Communications Services These services include telecommunications (broadcasting, satellite, electronic mail, etc.), postal, courier, newspaper and magazine delivery services, etc.

    Construction and Installation Services You should include construction and installation services provided on a short-term basis. Exclude long-term (one year or more) construction and installation projects undertaken abroad by your enterprise and long-term construction and installation activity undertaken in Gondwanaland by nonresidents for your enterprise. Also, exclude construction and installation services provided by nonresident branches and subsidiaries of your enterprise or construction services provided in Gondwanaland by Gondwanaland branches and subsidiaries of nonresident enterprises.

    Financial Services These services include fees for intermediation services such as lending, financial leasing, letters of credit, bankers acceptances, lines of credit, foreign exchange transactions and travelers’ check transactions; commissions and fees associated with security brokerage, placements of issues, underwriting, redemptions, swaps, options, and commodity futures; and portfolio and other financial management fees.

    Computer and Information Services These services include data base development, storage, and on-line time series facilities; data processing, tabulation, processing services (on a time-share or specific basis), and processing management services; hardware consultancy; software design, development, and customized implementation and programming; maintenance and repair of computers and peripheral equipment; and news agency services.

    Royalties and License Fees These include fees associated with the use of (and purchases and sale of) patents, copyrights, trademarks, industrial processes, franchises, etc. and licensing agreements associated with manuscripts, paintings, sculptures, etc.

    Trade-related Services These services include commissions on goods and services associated with commodity brokerage, auction sales, sales of ships and aircraft, etc.

    Operational Leasing Operational leasing includes leasing of machinery and equipment—other than transportation equipment with crew—and excludes items under financial lease.

    Research and Development These activities include basic and applied research, laboratory and other services related to new products and material development (including computer components) associated with the physical and social sciences.

    Legal, Accounting, and Management Services These services include legal advice, representation, and documentation; accounting, auditing, bookkeeping, and tax related services; planning, organization, cost projecting, and human resource management; and public relations.

    Advertising and Market Research These activities include the design, creation, marketing, placement, and purchase of advertising; trade fair exhibition services; and promotion, market research, and public opinion polls.

    Architecture, Engineering, and Other Technical Services These services include architectural design of urban and other development projects; planning, project design, and supervision of dams, bridges, airports, turnkey projects, etc.; and surveying, product testing and certification, and technical inspection services.

    Agricultural, Mining, and On-site Processing Services These services include services associated with agricultural crops, e.g., protection against insects and disease, increasing of harvest yields, etc.; forestry services; mining-related services, e.g., analysis of ores, etc.; and on-site processing—other than processing involving goods that are or will be returned to the countries of origin.

    Other Business Services These services include security and investigative services, translation and interpretation, photographic services, building cleaning, etc.

    Personal, Cultural, and Recreational Services These services include fees received by actors, directors, and producers associated with the production of motion picture and television films; tapes and radio distribution rights sold to the media; and other cultural services (including those provided by museums, libraries, and orchestras) and sporting and other recreational services.

    Note: Services, including education and health services, provided to nonresidents visiting Gondwanaland are considered to be travel services and should not be reported on this form.

    Insurance Transactions to be Reported in Parts C and D

    Parts C and D should be completed by insurance enterprises that engage in insurance and re-insurance transactions with nonresidents. Premiums earned are premiums that are payable during current or previous quarters and cover risks incurred during the current quarter. Claims due are claims that became due, in the current quarter, after the eventualities that gave rise to the claims.

    In part D, details of premiums paid and not yet earned and claims due but not yet paid should be reported. For example, in items 36 and 38, columns A and E, details of the opening and closing positions, respectively, of premiums paid but not yet earned should be shown. In items 37 and 39, columns A and E, similar details in respect of claims due but not yet paid should be shown. Please verify that amounts recorded in column E equal columns A + B - C - D.

    Insurance Transactions to be Reported in Part E

    Details of insurance premiums and claims for insurance placed directly abroad by Gondwanaland residents (other than insurance enterprises) and by Gondwanaland insurance agents and brokers on behalf of Gondwanaland residents should be recorded. Insurance enterprises, unless such enterprises also act as brokers or agents, should not complete this part of the form. Enterprises that use a resident agent or broker to place insurance abroad should not report these transactions as the transactions will be reported by the broker or agent.

    Form 10—International Services

    Part A. Selected Services Provided to Nonresidents

    (Report in thousands of Gondwanaland dollars)

    Transactions by Country (specify)
    Total
    A
    BCDEF
    1. Communication
    2. Construction and installation
    3. Financial services
    4. Computer and information services
    5. Royalties and license fees
    6. Trade-related services
    7. Operational leasing
    8. Research and development
    9. Legal, accounting, and management consulting
    10. Advertising and market research
    11. Architecture, engineering, and other technical services
    12. Agricultural, mining, and on-site processing services
    13. Other business services
    14. Personal, cultural, and recreational services
    15. Other (specify............................)

    Part B. Selected Services Received from Nonresidents

    (Report in thousands of Gondwanaland dollars)

    Total
    A
    Transactions by Country (specify)
    BCDEF
    16. Communication
    17. Construction and installation
    18. Financial services
    19. Computer and information services
    20. Royalties and license fees
    21. Trade-related services
    22. Operational leasing
    23. Research and development
    24. Legal, accounting, and management consulting
    25. Advertising and market research
    26. Architecture, engineering, and other technical services
    27. Agricultural, mining, and on-site processing services
    28. Other business services
    29. Personal, cultural, and recreational services
    30. Other (specify............................)

    Part C. International Insurance Transactions of Gondwanaland Insurance Enterprises

    (Report in thousands of Gondwanaland dollars)

    This section should be completed by insurance enterprises only.

    Total
    A
    Transactions by Country (specify)
    BCDEF
    Insurance Provided to Nonresidents
    31. Insurance of goods: Premiums earned
    Claims due
    32. Other casualty insurance: Premiums earned
    Claims due
    33. Life insurance: Premiums earned
    Claims incurred
    Bonuses payable
    Re-insurance Accepted from Nonresident Insurers
    34. Premiums earned
    Claims due
    Re-insurance Business Ceded to Nonresident Insurers
    35. Premiums earned
    Claims due

    Part D. Premiums Prepaid and Claims Due but Not Paid

    (Report in thousands of Gondwanaland dollars)

    This section should be completed by insurance enterprises only.

    Opening PositionPremiums Earned/Claims Due in QuarterPaymentsOther ChangesClosing Position
    ABCDE
    Insurance and Re-insurance Provided to Nonresidents
    36. Premiums
    37. Claims
    Re-insurance Ceded to Nonresidents
    38. Premiums
    39. Claims

    Part E. Insurance Transactions of Gondwanaland Enterprises, Brokers, and Agents with Nonresidents

    (Report in thousands of Gondwanaland dollars)

    This section should NOT he completed by insurance enterprises.

    Total
    A
    Transactions by Country (specify)
    BCDEF
    40. Insurance of goodsPremiums paid
    Claims received
    41. Other casualty insurancePremiums paid
    Claims received
    42. Life insurancePremiums paid
    Claims received

    Part F. Payments for Services Settled Through Other Resident Organizations and Long-term Construction Activity

    43. Does this enterprise, its subsidiaries in Gondwanaland, or its employees working abroad:

    a.recieve services from nonresidents that are paid for on your behalf by another resident entity?[ ] Yes[ ] No
    b.provide services to nonresidents for which payment is received on your behalf by another resident entity?[ ] Yes[ ] No
    c.engage in long-term construction activity abroad?[ ] Yes[ ] No
    d.engage a nonresident enterprise for long-term construction activity in Gondwanaland?[ ] Yes[ ] No

    If the answer to question 43 (a) or (b) is Yes, please give the name and address of the resident company making or receiving payments.

    .............................................................................................................................................................................................

    .............................................................................................................................................................................................

    Part G. Revisions to Previously Reported Data

    Please provide details of any significant revisions to data previously reported incorrectly.

    .............................................................................................................................................................................................

    .............................................................................................................................................................................................

    Part H. Final Questions

    Please verify that the form has been correctly completed; mark the following boxes and strike out inappropriate phrases.

    [ ]The name of the enterprise shown on page one is correct./I have corrected the name and address on page one.
    [ ]Details about the contact person have been entered on page one.
    [ ]The information in parts A through F has been completed in accordance with the instructions.
    [ ]There are no significant revisions to data for previous periods./Details of significant revisions to data for previous periods have been included in part G.
    [ ]I have made a copy of this form for my records.

    Name of person completing this form: ............................................................................................................................................

    Signature: ......................................................................................................................................................................................

    Form 11—Foreign Employees

    Reporting Instruction for Form 11—Foreign Employees

    Form 11 should be completed for the enterprise (and any subsidiaries in Gondwanaland) listed on page one of the form—unless different arrangements have been made with the Gondwanaland Ministry of Statistics.

    Form 11 collects information on the foreign employees of your enterprise—that is, employees who are not nationals of Gondwanaland. Foreign employees may be working for wages and salaries, on contract, or employed as consultants. Those employed in Gondwanaland for 12 months or more are to be regarded as residents of Gondwanaland; those employed for less than 12 months are regarded as nonresidents. The following “rule of thumb” may be applied:

    • All foreign workers employed via contracts of 12 months ore more, employed via renewable contracts, or previously employed by another enterprise in Gondwanaland should be regarded as residents; all others should be regarded as nonresidents.

    Some of the information requested on page three of the form should be contained in the records of your enterprise; some may require estimation.

    Termination payments (item 4) are payments likely to be repatriated abroad after being received by foreign employees upon termination of their employment. Recruitment expenses abroad (item 8) are any expenses incurred abroad by your enterprise in recruiting foreign employees.

    Form 11—Foreign Employees

    Part A. Compensation Paid to Foreign Employees and Associated Expenditures Incurred During the Quarter

    (Report in thousands of Gondwanaland dollars)

    Residents of Gondwanaland (specify country of nationality of workers)Nonresidents (specify country of nationality of workers)
    ABCDEF
    1. Number of foreign employees
    2. Wages and salaries paid:
    • a. In cash

    • b. In kind (such as food, housing, and other noncash benefits)

    /////////////
    ////////////
    /////////////
    ////////////
    /////////////
    ////////////
    3. Employer’s contribution to social security schemes/////////////
    /////////////
    /////////////
    /////////////
    /////////////
    /////////////
    4. Termination payments
    5. Estimated expenditure by foreign employees in Gondwanaland/////////////
    /////////////
    /////////////
    /////////////
    /////////////
    /////////////
    6. Estimated income taxes paid by foreign employees to the Gondwanaland government/////////////
    /////////////
    /////////////
    /////////////
    /////////////
    /////////////
    7. Estimated remittances by employees to their countries of origin/////////////
    /////////////
    /////////////
    /////////////
    /////////////
    /////////////
    8. Recruitment expenses abroad

    Part B. Revisions to Previously Reported Data

    Please provide details of any significant revisions to data previously reported incorrectly.

    .............................................................................................................................................................................................

    .............................................................................................................................................................................................

    Part C. Final Questions

    Please verify that the form has been correctly completed; mark the following boxes and strike inappropriate phrases.

    [ ]The name of the enterprise shown on page one is correct./I have corrected the name and address on page one.
    [ ]Details about the contact person have been entered on page one.
    [ ]The information in part A has been completed in accordance with the instructions.
    [ ]There are no significant revisions to data for previous periods./Details of significant revisions to data for previous periods have been included in part B.
    [ ]I have made a copy of this form for my records.

    Name of person completing this form: ............................................................................................................................................

    Signature: ......................................................................................................................................................................................

    Form 12—Financial Claims on and Liabilities to Nonresidents

    Instructions for Completing Form 12—Financial Claims on, and Liabilities to, Nonresidents

    Reporting Instructions

    Form 12 should be completed for the enterprise (and any subsidiaries in Gondwanaland) listed on page one of the form—unless different arrangements have been made with the Gondwanaland Ministry of Statistics.

    Residents and Nonresidents

    A nonresident is any individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are nonresidents.

    Foreign direct investment enterprises are:

    • nonresident branches and subsidiaries of your enterprise or its subsidiaries

    • nonresident enterprises in which your enterprise or its subsidiaries have equity of 10 percent or more

    • nonresident subsidiaries of nonresident associates of your enterprise or its subsidiaries.

    A nonresident direct investor is a nonresident entity (or group of related nonresidents) that owns equity of 10 percent or more in this enterprise. Nonresident enterprises related to the nonresident direct investor are also considered nonresident direct investors in your enterprise. Common examples of nonresident direct investors are, foreign head offices (for branches) and foreign parent companies (for subsidiaries). An enterprise may have more than one direct investor, and these direct investors may reside in different countries. An investor need not have the largest shareholding to be considered a direct investor.

    Other nonresidents are those that are not direct investors or direct investment enterprises.

    • The definitions and treatments of direct investment are complex. If you are uncertain about the application of definitions, please call Mr. Fossum at (202) 623-7942 for assistance.

    Structure of Form 12

    Form 12 collects quarterly information regarding the financial claims of your enterprise and its subsidiaries on nonresidents and the liabilities of your enterprise and its subsidiaries to nonresidents. The form requests data on positions (stocks), financial transactions, reconciliation items (other changes in stocks), income, and associated financial fees and withholding taxes.

    Form 12 consists of eight parts. Part A collects basic data on financial assets; part B collects information on financial assets classified by country of the nonresident debtor. Parts C and D collect similar data for liabilities. Part E collects information on financial fees and withholding taxes; part F collects information on the valuation of direct investment; and parts G and H collect information on retained earnings and profits.

    Financial Instruments

    Equity includes stocks (shares) and other equity, such as investment in branches. Non-voting preferred stock (preference shares) should be recorded under bonds.

    Bonds and money market instruments include bonds, debentures, commercial paper, promissory notes, certificates of deposit, and other tradeable nonequity securities other than financial derivatives. Bonds include instruments issued with original maturities of more than 12 months. Instruments with original maturities of 12 or fewer months are included in money market instruments. In parts B and D, bonds and money market instruments should be included in the bonds, etc. category.

    Financial derivatives include all tradeable financial derivatives or secondary market instruments such as options, futures, and forward contracts. In parts B and D, financial derivatives should be included in the bonds, etc. category.

    Loans include loans and financial leases. Long-term loans are those with original maturities of more than 12 months.

    Deposits include checking accounts, savings accounts, and other time deposits.

    Trade credits are commercial credits extended by exporters to importers and prepayments made by importers to exporters.

    Other includes all other financial assets and liabilities, such as arrears.

    Position, Transactions, Other Changes, and Income

    Opening position refers to the value of the claims (part A) and liabilities (part C) of your enterprise and its subsidiaries at the beginning of the quarter. The opening positions you report should agree with the closing positions you reported for the previous quarter. If this is not the case, details should be given in part I. The closing position refers to the value of the claims and liabilities of your enterprise and its subsidiaries at the end of the quarter.

    Financial transactions are transactions relating to the acquisition or disposal of your enterprise’s financial claims on, or liabilities to, nonresidents. Purchases of stock made by your enterprise (and its subsidiaries) in nonresident companies, purchases of your enterprise’s shares by nonresidents, issuances and purchases of bonds, increased deposits in bank accounts, and drawdowns of loans are examples of transactions that increase assets or liabilities. Sales of stock by your enterprise (and its subsidiaries) in nonresident companies, sales of your enterprise’s shares by nonresidents, redemptions and sales of bonds, withdrawals from bank accounts, and repayments of loans are examples of transactions that decrease assets or liabilities.

    Income refers to: (1) income receivable by your enterprise from its ownership of claims on nonresidents; and (2) income payable by your enterprise as a result of its liabilities to nonresidents. The most common forms of income are dividends, remittances of profit, and interest.

    • Dividends and remittances of profit refer to income earned from the ownership of stock (shares) or equivalent equity interest in enterprises. These amounts should be recorded on the basis of dividend (or remittance) payments dates. Interest relates to income earned from the ownership of financial assets other than equity assets. Income includes discounts. A discount is the difference between the value of a financial instrument when it issued and its final redemption value. Interest should be recorded on an accrual basis. The difference between income accrued and income payable should be recorded as a financial transaction in the instrument to which the interest relates. Any interest in arrears should be recorded as a financial transaction in the other category of financial instruments. If you are unsure how to record these types of transactions, please contact Mr. Fossum at (202) 623-7942.

    • For direct investments (see definition provided previously), income relating to reinvested earnings should be excluded from parts A through D. This type of income is reported in parts G and H. (See the subsequent instruction for completing these parts.)

    Valuation

    All values should be reported in thousands of Gondwanaland dollars. Please convert amounts expressed in foreign currencies to Gondwanaland dollars.

    Financial transactions and income denominated in foreign currencies should be converted to Gondwanaland dollars by using the midpoint of the appropriate buy and sell rates applicable on the date of the transaction. Financial transactions and income should be recorded on a gross basis—that is, before the deduction of commissions, brokerage fees, and withholding taxes, which are to be recorded in part E.

    Positions denominated in foreign currencies should be converted to Gondwanaland dollars at the midpoint of the appropriate buy and sell exchange rates applicable on the reference dates.

    All valuations should be made at market values. For valuing equity positions at market value, one of the following methods, which are listed in order of preference, may be used:

    • the midpoint of the stock market buy and sell rates on the reference date

    • a recent transaction value

    • directors’ value

    • net asset value

    Net asset value equals total assets, including intangibles, less liabilities and the paid-up value of non-voting stock. Assets and liabilities should be recorded at current, rather than historical, values.

    Relationships Between Data Items

    Information reported in parts A and C should reflect the following relationships:

    closing position= opening position + change in position
    change in position= net financial transactions + other changes
    net financial transactions= increases (transactions relating to the acquisition of assets or liabilities) - decreases (transactions relating to the disposal of assets or liabilities)
    other changes= valuation changes (caused by exchange rate changes, market price changes, and write-downs) + residuals (caused by reclassification of items and arithmetical errors)

    Amounts reported in parts B and D should be consistent with relevant amounts in parts A and C, respectively. For example, the sum of claims on direct investors shown in column A, part B should equal item 1.D in part A.

    Liabilities Held by Resident Nominees and Other Financial Intermediaries on Behalf of Nonresidents

    Certain liabilities (such as securities issued in Gondwanaland) of your enterprise may be held by nonresidents through financial intermediaries in Gondwanaland, and the details of these liabilities may not be known to you. Information on these liabilities is collected from the financial intermediaries. If you are unsure what exactly to report on this form, please contact Mr. Fossum at (202) 623-7942.

    Treatment of Transactions with Related Banks

    All financial transactions and positions with related banks (except for equity transactions and permanent debt) should be included as claims on, or liabilities to, other nonresidents rather than as claims on, or liabilities to, direct investors or direct investment enterprises.

    Treatment of Hedges

    Financial instruments that are hedged by the use of derivatives (such as currency swaps) should be recorded according to the terms of the contract and without regard to the hedge. The details of the hedge, if it is with a nonresident, should be reported under the financial derivative instrument. For example, for a long-term loan that is the subject of a swap, information on the unhedged position, principal repayments, and interest should be recorded in the appropriate columns for long-term loans. The market value of the swap and the actual payments on the swap agreement should be recorded under the appropriate position, transaction, and interest columns in the row for financial derivatives. If you are unsure how to report hedges on this form, please contact Mr. Fossum at (202) 623-7942.

    Country classification

    Country refers to the country of residence of the creditor or debtor. In parts B and C, if the opening and closing positions for particular countries are less than $G1 million, the amounts relating to these countries may be consolidated and attributed to the largest country.

    Transactions with international institutions, such as the Asian Development Bank, should be recorded as INT. INST.

    Retained Earnings (Parts G and H)

    Parts G and H seek information on retained earnings. Part G should be completed for the foreign direct investment enterprises of your enterprise (and its subsidiaries), and part H should be completed in respect of your enterprise. Part H should be completed only if your enterprise has nonresident direct investors.

    Operating profit is profit from the operations of enterprises. When operating profit is calculated, depreciation should be determined on the basis of replacement cost. Exchange rate gains and losses, special tax provisions (such as accelerated depreciation), and any extraordinary items should be excluded from the calculation.

    Net income received equals interest, dividends, and any undistributed profits from the ownership of subsidiaries and associates attributable to the enterprise(s) concerned, less interest payable by the enterprise(s).

    Taxes on profits should be recorded when due and without penalty.

    Form 12—Financial Claims on, and Liabilities to, Nonresidents

    Part A. Claims on Nonresidents

    (Report in thousands of Gondwanaland dollars)

    Opening
    Position
    A
    Change in PositionClosing
    Position
    G
    Income
    H
    TransactionsOther Changes
    Increases
    B
    Decreases
    C
    Net
    D
    Exchange
    Rate
    E
    Other
    F
    Claims on Direct Investment Enterprises
    1. Equity
    2. Other (a)
    Claims on Direct Investors
    3. Equity
    4. Other (a)
    Claims on Other Nonresidents
    5. Equity
    6. Bonds
    7. Money market instruments
    8. Long-term loans
    9. Short-term loans
    10. Deposits
    11. Financial derivatives
    12. Trade credits
    13. Other
    14. Total claims

    For banks’ claims on nonresident banks, include permanent debt only. (Other nonequity claims of banks on nonbanks should be reported in the appropriate item in Claims on Other Nonresidents.) For nonbanks’ claims on nonresidents and banks’ claims on nonresident nonbanks, include bonds, notes, money market instruments, financial derivatives, loans, trade credits, and other claims.

    Part B. Claims on Nonresidents by Country of Nonresident Debtor

    (Report in thousands of Gondwanaland dollars)

    Country of Debtor
    (specify)
    Net TransactionsClosing PositionIncome
    Equity
    A
    Bonds,
    etc. (a)
    B
    Other
    C
    Equity
    D
    Bonds,
    etc. (a)
    E
    Other
    F
    On Equity
    G
    On Bonds,
    etc. (a)
    H
    On Other
    I
    Claims on Direct Investment Enterprises
    (b)(b)(b)
    (b)(b)(b)
    (b)(b)(b)
    (b)(b)(b)
    Claims on Direct Investors
    (b)(b)(b)
    (b)(b)(b)
    (b)(b)(b)
    (b)(b)(b)
    Claims on Other Nonresidents
    Total claims

    The category includes bonds, money market instruments, and financial derivatives.

    Please include amounts relevant to these instruments in the other instruments column.

    Part C. Liabilities to Nonresidents

    (Report in thousands of Gondwanaland dollars)

    Opening
    Position
    A
    Change in PositionClosing
    Position
    G
    Income
    H
    TransactionsOther Changes
    Increases
    B
    Decreases
    C
    Net
    D
    Exchange Rate
    E
    Other
    F
    Liabilities to Direct Investors
    1. Equity
    2. Other (a)
    Liabilities to Direct Investment Enterprises
    3. Equity
    4. Other (a)
    Liabilities to Other Nonresidents
    5. Equity
    6. Bonds
    7. Money market instruments
    8. Long-term loans
    9. Short-term loans
    10. Deposits
    11. Financial derivatives
    12. Trade credits
    13. Other
    14. Total liabilities

    For banks’ liabilities to nonresident banks, include permanent debt only. (Other nonequity liabilities of banks to nonresident banks should be reported in the appropriate item in Liabilities to Other Nonresidents.) For nonbanks’ liabilities to nonresidents and banks’ liabilities to nonresident nonbanks, include bonds, notes, money market instruments, financial derivatives, loans, trade credits, and other liabilities.

    Part D. Liabilities to Nonresidents by Country of Nonresident Creditor

    (Report in thousands of Gondwanaland dollars)

    Net TransactionsClosing PositionIncome
    Country of Creditor
    (specify)
    Equity
    A
    Bonds,
    etc. (a)
    B
    Other
    C
    Equity
    D
    Bonds,
    etc. (a)
    E
    Other
    F
    On Equity
    G
    On Bonds,
    etc. (a)
    H
    On Other
    I
    Liabilities to Direct Investors
    (b)(b)(b)
    (b)(b)(b)
    (b)(b)(b)
    (b)(b)(b)
    Liabilities to Direct Investment Enterprises
    (b)(b)(b)
    (b)(b)(b)
    (b)(b)(b)
    (b)(b)(b)
    Liabilities to Other Nonresidents
    Total claims

    The category includes bonds, money market instruments, and financial derivatives.

    Please include amounts relevant to these instruments in the other instruments column.

    Part E. Fees for Financial Services and Withholding Taxes

    (Report in thousands of Gondwanaland dollars)

    Country of Nonresident Party (specify)
    Total
    Fees for Financial Services
    Receivable from nonresidents
    Payable to nonresidents
    Withholding Taxes
    Paid by your enterprise, on behalf of nonresidents, to the Gondwanaland government
    Paid by nonresidents, on behalf of your enterprise, to foreign governments

    Part F. Valuation of Direct Investment Equity

    Please record the method of valuation (e.g., stock market valuation of shares, a recent transactions value, directors’ valuations, net asset value based on current values, net asset value based on book values) used in part A, item 1G and part C, item 1G.

    Part A item 1G......................
    Part C item 1G......................

    What were the corresponding book values?

    Part A item 1G$G’000
    Part C item 1G$G’000

    Part G. Retained Earnings of Foreign Direct Investment Enterprises

    (For all items except 5, report in thousands of Gondwanaland dollars.)

    Country of Residence of Direct Investment Enterprise (specify)
    1. Operating profit plus net income during quarter
    2. Taxes (on profits) due for payment during quarter
    3. Dividends paid or profits remitted during quarter
    4. Retained earnings (1 - 2 - 3)
    5. Percentage equity owned by reporting enterprise at end of period (%)
    6. Retained earnings attributable to reporting enterprise (4 * 5/ 100)

    Part H. Retained Earnings of Reporting Enterprise

    (For all items except 5, report in thousands of Gondwanaland dollars.)

    This section should be completed only by enterprises having nonresident direct investors.

    Total for All ShareholdersCountry of Residence of Nonresident Direct Investors (specify)
    1. Operating profit plus net income during quarter////////////////////////////////////
    2. Taxes (on profits) due for payment during quarter////////////////////////////////////
    3. Dividends paid or profits remitted during quarter////////////////////////////////////
    4. Retained earnings (1 - 2 - 3)////////////////////////////////////
    5. Percentage of equity owned by direct investors at end of period (%)/////////////////
    /////////////////
    6. Retained earnings attributable to reporting enterprise (4 * 5/ 100)/////////////////
    /////////////////

    Part I. Revisions to Previously Reported Data

    Please provide details of any significant revisions to data previously reported incorrectly.

    .............................................................................................................................................................................................

    .............................................................................................................................................................................................

    Part J. Final Questions

    Please verify that the form has been correctly completed; mark the following boxes and strike out inappropriate phrases.

    [ ]The name of the enterprise shown on page one is correct./I have corrected the name and address on page one.
    [ ]Details about the contact person have been entered on page one.
    [ ]The questions answered cover all the external assets and liabilities of the enterprise named on page one and its subsidiaries in Gondwanaland./The following activities have not been included: ......................................
    [ ]In parts A and C, row 14 has been completed and for all completed rows, the change in position (columns G-A) equals net transactions (column D = B - C) plus other changes (columns E + F).
    [ ]In part B, the total claims row has been completed, and the information reported corresponds with information reported in part A. For example, the total of column A in part B should equal the sum of items 1D, 3D, and 5D in part A.
    [ ]In part D, the total liabilities row has been completed, and the information reported corresponds with information reported in part C. For example, the total of column A in part D should equal the sum of items 1D, 3D, and 5D in part C.
    [ ]The country columns information in part E sums to the total column.
    [ ]The information in part F has been completed.
    [ ]Parts G and H have been completed in accordance with the instructions.
    [ ]There are no significant revisions to data for previous periods./Details of significant revisions to data for previous periods have been included in part I.
    [ ]I have made a copy of this form for my records.

    Name of person completing this form: .........................................................................................................................................

    Signature: ...................................................................................................................................................................................

    Form 13—International Securities

    Instructions for Completing Form 13—International Securities

    Reporting Instructions

    Form 13 should be completed for the enterprise (and any subsidiaries in Gondwanaland) listed on page one of the form—unless different arrangements have been made with the Gondwanaland Ministry of Statistics.

    Residents and Nonresidents

    A nonresident is any individual, enterprise, or other organization ordinarily domiciled in a country other than Gondwanaland. Gondwanaland branches and subsidiaries of nonresident companies are residents of Gondwanaland. Similarly, foreign branches and subsidiaries of Gondwanaland companies are nonresidents.

    Conversion to Gondwanaland Dollars

    All values should be reported in thousands of Gondwanaland dollars. Please convert amounts in foreign currencies to Gondwanaland dollars. All amounts for financial transactions, income, fees, and withholding taxes should be converted at the midpoint of the buy and sell rates applicable on the date of the transaction; all amounts for opening and closing positions should be reported at the midpoint of the buy and sell rates applicable on the reference dates.

    Structure and Scope of Form 13

    Form 13 sets out information that should be reported quarterly by this enterprise in respect of international security transactions undertaken on its own account or on behalf of clients. As arranged with your enterprise, information in respect of parts A and B should be supplied on computer print out, magnetic tape, or disk and accompanied by completed parts C through E of form 13.

    In part A, you should report details on securities issued in Gondwanaland (a) by residents and held or traded by your enterprise on behalf of nonresident clients and (b) by nonresidents and held or traded by your enterprise on behalf of resident clients or on your own account. In part B, you should report details on securities issued abroad (a) by residents and held or traded by your enterprise on behalf of nonresident clients; (b) by nonresidents and held or traded by your enterprise on behalf of resident clients or on your own account, and (c) by residents and held or traded by your enterprise on behalf of resident clients or on your own account. For all categories, separate details should be reported for each unique security reference number (column A) and owner code (column B) combination. If you are unsure what should actually be reported, please contact Mr. Fossum at (202) 623-7942.

    In part C, you should report details of your enterprise’s claims on, or liabilities to, nonresident clients in respect of accounts outstanding for security transactions, income, fees, etc.

    Security Reference Numbers and Owner Codes

    A standard security reference number should be used for each security. When such numbers do not exist—particularly for securities issued abroad—you should create your own codes and provide a list of these codes to the Gondwanaland Ministry of Statistics. The list should show, for each code, the type of security, the country of issue, the currency of denomination, the industry (activity) of the issuer, and the sector (international institution, government, central bank, other bank, other) of the issuer. (International institutions are organizations, such as Asian Development Bank and the European Investment Bank, whose members are governments.)

    The nonresident owner code should consist of four digits. The first digit of the code should describe the sector of the nonresident client (1-international institution, 2-government, 3-central bank, 4-other bank, and 5-other). The last three characters should be the country of residence code of the nonresident client. Country codes are provided at the conclusion of these instructions.

    The resident owner code should be four-digit alpha numeric code that is determined by your organization. A separate code should be allocated to each enterprise (business) client. A list of these codes, showing the industry (activity) and sector (government, central bank, other bank, and other) of each owner should be provided to the Gondwanaland Ministry of Statistics. Clients who are individuals rather than enterprises should be assigned the code HOUS.

    Positions, Transactions, Other Changes, Income, Fees, and Withholding Taxes

    The information reported in parts A, B, and C should have the following relationships:

    Closing Position = Opening Position + Financial Transactions + Other Changes.

    Market prices prevailing at the reference dates should be used to calculate opening and closing positions.

    Financial transactions are transactions relating to the acquisition (including issues) or disposal (including redemptions) of a security. Financial transactions should be recorded before the deduction of fees.

    Other changes are valuation changes, such as those caused by exchange rates (in the case of securities denominated in foreign currencies) and market price changes.

    Income refers to dividends and interest. Dividends should be recorded when due for payment. Interest includes discounts. A discount is the difference between the value of a financial instrument when it is issued and its final redemption value. Interest should be recorded on an accrual basis. The difference between income accrued and income payable should be recorded as a financial transaction in the instrument to which the interest relates. If you are unsure how to record these types of transactions, please contact Mr. Fossum at (202) 623-7942.

    Income should be recorded before the deduction of any fees and withholding taxes.

    Fees are amounts payable by nonresident clients for services provided by your enterprise.

    Withholding Taxes refer to—in the case of securities issued by residents—taxes payable to the Gondwanaland government by your enterprise on behalf of nonresident clients and—in the case of securities issued by nonresidents—taxes withheld by foreign governments on securities held by your enterprise on behalf of resident clients or on your own account.

    Country codes

    [A country code list should be supplied by the compiler.]

    Instructions for Completing Form 13—International Securities

    Part A. Securities Issued in Gondwanaland

    (Report in thousands of Gondwanaland dollars)

    Reference
    Number
    A
    Owner Code
    B
    Opening
    Position
    D
    Financial TransactionsOther
    Changes
    H
    Closing
    Position
    I
    Income
    J
    Fees
    K
    Withholding
    Taxes
    L
    Issues
    D
    Redemptions
    E
    Purchases
    F
    Sales
    G
    (a) Securities Issued by Residents and Owned by Nonresidents
    (b) Securities Issued by Nonresidents and Owned by Residents
    //////////////
    //////////////
    //////////////
    //////////////
    //////////////

    Part B. Securities Issued Abroad

    (Report in thousands of Gondwanaland dollars)

    Reference
    Number
    A
    Owner Code
    B
    Opening
    Position
    D
    Financial TransactionsOther
    Changes
    H
    Closing
    Position
    I
    Income
    J
    Fees
    K
    Withholding
    Taxes
    L
    Issues
    D
    Redemptions
    E
    Purchases
    F
    Sales
    G
    (a) Securities Issued by Residents and Owned by Nonresidents
    (b) Securities Issued by Nonresidents and Owned by Residents
    //////////////
    //////////////
    //////////////
    //////////////
    (c) Securities Issued by Residents and Owned by Residents
    ////////////////////////////
    ////////////////////////////
    ////////////////////////////
    ////////////////////////////

    Supplementary item: Fees collected from nonresidents not included in parts A or B above $G’000

    Part C. Claims on, and Liabilities to, Nonresident Clients

    (Report in thousands of Gondwanaland dollars)

    Country of
    Nonresident Client (specify)
    A
    Opening Position
    B
    Transactions
    C
    Other Changes
    D
    Closing Position
    E
    Claims on Nonresidents
    Liabilities to Nonresidents

    Part D. Revisions to Previously Reported Data

    Please provide details of any revisions to data previously reported incorrectly.

    ....................................................................................................................................................................

    ....................................................................................................................................................................

    Part E: Final Questions

    Please verify that the form has been correctly completed; mark the following boxes and strike out inappropriate phrases.

    [ ]The name of the enterprise shown on the page one is correct./I have corrected the name and address on page one.
    [ ]Details about the contact person have been entered on page one.
    [ ]The questions answered cover all the security activities of the enterprise named on page one./The following activities have not been included: .......................................................................
    [ ]The information in parts A, B, and C of the form has been completed in accordance with instructions.
    [ ]There are no significant revisions to data for previous periods./Details of significant revisions to data for previous periods have been included in part D.
    [ ]I have kept a copy of this form for my records.

    Name of person completing this form: .........................................................................................................................................

    Signature: ...................................................................................................................................................................................

    Form 14—Embassies and International Institutions

    Part A. Average Number of Staff Employed During the Quarter

    1. Diplomatic, consular, and other foreign staff
    2. Locally engaged staff (whether or not Gondwanaland citizens)

    Part B. Operating and Capital Expenditure in Gondwanaland During the Quarter

    (Report, except for item 4(b), in thousands of Gondwanaland dollars.)

    3. Local staff
    • (a) Wages and salaries paid to local staff (including payments in kind and before deduction of income taxes)

    • (b) Employer’s contribution to social security

    4. Diplomatic, consular, and other foreign staff
    • (a) Wages and salaries paid to staff (including any expenses paid on behalf of staff directly by your organization to other organizations in Gondwanaland)

    • (b) Of the amount recorded in (a), what percentage do you estimate was spent in Gondwanaland?

    5. Other operating expenditure in Gondwanaland (Include expenditure on office supplies and equipment, fuel and utilities—such as electricity and telephone services, rates, rents, official entertainment expenses, and rental and operation of cars.)
    6. Capital expenditure in Gondwanaland
    • (a) Purchase of land

    • (b) Purchase of buildings and expenditure on construction and improvements to buildings

    • (c) Other (please specify) .........................................

    7. Other (please specify) ..........................................

    Part C. Capital Receipts in Gondwanaland During the Quarter

    (Report in thousands of Gondwanaland dollars)

    8.(a) Sales of land
    (b) Sales of buildings
    (c) Other (please specify) .........................................

    Part D: Grants and Other Assistance Provided to Gondwanaland During the Quarter

    (Report in thousands of Gondwanaland dollars)

    9. Official cash grants
    • (a) Recurrent expenditure

    • (b) Project financing

    • (c) Other (specify) .............................................

    10. Other official grants
    • (a) Goods

    • (b) Technical assistance

    • (c) Education scholarships

    • (d) Other services

    • (d) Other (please specify) .........................................

    11. Military assistance (please specify) ....................................
    12. (To be completed by embassies only) Estimated value of grants and aid provided to Gondwanaland by private institutions (such as foreign development assistance agencies, humanitarian organizations, and churches) in your country

    Part E. Official Loans to Residents of Gondwanaland

    (Report in thousands of currency units)

    Name of BorrowerCurrency of LoanPosition at Beginning of QuarterDrawings During the QuarterRepayments During the QuarterOther Changes in PositionPosition at End of the QuarterInterest
    ABCDEFGH
    Loans
    Arrears

    Please note: Repayments and interest due during the quarter and not paid should be shown under Loans as repayments and interest and under Arrears as drawings.

    Please supply details of any amounts reported in column F...................................................................

    ................................................................................................................................................................

    Part E. Revisions to Previously Reported Data

    Please provide details of any significant revisions to data previously reported incorrectly.

    ...............................................................................................................................................................................................

    ...............................................................................................................................................................................................

    Part F. Final Questions

    Please verify that the form has been correctly completed; mark the following boxes and strike out inappropriate phrases.

    [ ]The name and address shown on the page one is correct./I have corrected the name and address on page one.
    [ ]Details about the contact person have been entered on page one.
    [ ]Parts A through D of the form have been completed.
    [ ]In part D, amounts in column G = amounts in columns C + D - E + F./Amounts due but not paid for loan repayments and interest have been reported as per instruction./Amounts in column F have been explained.
    [ ]There are no significant revisions to data for previous periods/Details of significant revisions to data for previous periods have been included in part E.
    [ ]I have made a copy of this form for my records.

    Name of person completing this form: .........................................................................................................................................

    Signature: ...................................................................................................................................................................................

    Form 15—Travel

    6. Please record, in Gondwanaland dollars, your travel expenditure in Gondwanaland. Include amounts paid on your behalf by other nonresidents, such as your employer.

    Type of ExpenditureAmount (in Gondwanaland dollars)
    (a) Prepaid expenditures (Include any amounts spent, prior to your arrival, on your trip to Gondwanaland.)
    (b) Accommodation
    (c) Food and beverages
    (d) Entertainment
    (e) Souvenirs and other goods that you are taking out of Gondwanaland
    (f) Transportation within Gondwanaland
    (g) Gifts for persons residing in Gondwanaland
    (g) Other expenditure, excluding international transportation, in Gondwanaland (please specify) ....................................
    Total expenditure in Gondwanaland

    7. Does any of the amount reported in question 6(a) relate to international transportation?

    [ ]Yes[ ]No

    8. Please record any earnings and other amounts you received from Gondwanaland residents while traveling in Gondwanaland.

    Source of ReceiptsAmount (in Gondwanaland dollars)
    (a) Earnings from employment by Gondwanaland enterprises
    (b) Interest on bank accounts with Gondwanaland banks
    (c) Gifts from Gondwanaland residents
    (d) Other (pease specify) .....................................................
    Total amounts received while in Gondwanaland
    Appendix III. Model Balance of Payments Publication Tables
    Table P1Balance of Payments Summary(currency in millions)
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Current account
    Exports f.o.b.
    Imports f.o.b.
    Goods balance
    Services credit
    Services debit
    Services balance
    Income credit
    Income debit
    Income balance
    Transfers credit
    Transfers debit
    Transfers balance
    Current account balance
    Capital account
    Credits
    Debits
    Capital account balance
    Financial account
    Direct investment
    Abroad
    In reporting country
    Portfolio investment
    Assets
    Liabilities
    Other investment
    Assets
    Liabilities
    Reserves
    Financial account balance
    Net errors and omissions
    Memorandum items:
    Reserves at end of period
    Change in reserves during period
    Of which: non-transactions
    Transactions in liabilities constituting
    foreign authorities’ reserves
    Exceptional financing transactions
    Exchange rates–unit of account to
    U.S. dollar:
    Period average
    Period end
    Table P2Balance of Payments Goods Account(currency in millions)
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Exports f.o.b.
    General merchandise
    Goods for processing
    Repairs on goods
    Goods procured in ports by carriers
    Nonmonetary gold
    Total exports f.o.b.
    Of which:
    Food and live animals
    Beverages and tobacco
    Crude materials, inedible (except fuels)
    Mineral fuels, lubricants, and related materials
    Animal and vegetable oils, fats, and waxes
    Chemicals and related products
    Manufactured goods classified chiefly by material
    Machinery and transport equipment
    Miscellaneous manufactured articles
    Commodities n.e.s.
    Imports f.o.b.
    General merchandise
    Goods for processing
    Repairs on goods
    Goods procured in ports by carriers
    Nonmonetary gold
    Total imports f.o.b.
    Of which:
    Food and live animals
    Beverages and tobacco
    Crude materials, inedible (except fuels)
    Mineral fuels, lubricants, and related materials
    Animal and vegetable oils, fats, and waxes
    Chemicals and related products
    Manufactured goods classified chiefly by material
    Machinery and transport equipment
    Miscellaneous manufactured articles
    Commodities n.e.s.
    Memorandum items:
    Exports as recorded in ITS
    BOP adjustments
    Imports as recorded in ITS
    BOP adjustments
    Table P3Balance of Payments Services Account(currency in millions)
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Services credits
    Transportation
    Travel
    Communications
    Construction
    Insurance
    Financial
    Computer and information
    Royalties and license fees
    Other business
    Personal, cultural, and recreational
    Government, n.i.e.
    Services debits
    Transportation
    Travel
    Communications
    Construction
    Insurance
    Financial
    Computer and information
    Royalties and license fees
    Other business
    Personal, cultural, and recreational
    Government, n.i.e.
    Table P4Balance of Payments Income Account(currency in millions)
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Income credits
    Compensation of employees
    Investment income
    Direct investment
    Income on equity
    Dividends and distributed profits
    Reinvested earnings
    Income on debt
    Portfolio investment
    Income on equity
    Income on debt
    Other investment
    Income debits
    Compensation of employees
    Investment income
    Direct investment
    Income on equity
    Dividends and distributed profits
    Reinvested earnings
    Income on debt
    Portfolio investment
    Income on equity
    Income on debt
    Other investment
    Table P5Balance of Payments Current Transfer Account(currency in millions)
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Current transfer credits
    General government
    Other sectors
    Workers’ remittances
    Other
    Current transfer debits
    General government
    Other sectors
    Workers’ remittances
    Other
    Table P6Balance of Payments Capital Account(currency in millions)
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Capital transfer credits
    General government
    Debt forgiveness
    Other
    Other sectors
    Migrants’ transfers
    Debt forgiveness
    Other
    Capital transfer debits
    General government
    Debt forgiveness
    Other
    Other sectors
    Migrants’ transfers
    Debt forgiveness
    Other
    Acquisition and disposal of non-produced, nonflnancial assets
    Credits
    Debits
    Balance
    Table P7Balance of Payments Financial Account(currency in millions)
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Foreign financial assets*
    Of which:
    Equity instruments
    Debt instruments
    Direct investment abroad*
    Equity
    Reinvested earnings
    Other direct investment
    Portfolio investment
    Equity securities
    Debt securities
    Bonds and notes
    Money market instruments
    Financial derivatives
    Other investment
    Trade credits
    Loans
    Currency and deposits
    Other assets
    Reserve assets
    Monetary gold
    Special drawing rights
    Reserve position in the Fund
    Foreign exchange
    Other claims
    Foreign liabilities*
    Of which:
    Equity instruments
    Debt instruments
    Direct investment in country*
    Equity
    Reinvested earnings
    Other direct investment
    Portfolio investment
    Equity securities
    Debt securities
    Bonds and notes
    Money market instruments
    Financial derivatives
    Other investment
    Trade credits
    Use of Fund credit and loans from the Fund
    Other loans
    Currency and deposits
    Other liabilities

    As shown in this table, direct investment abroad is a proxy for direct investment assets, and direct investment in the host country is a proxy for direct investment liabilities; alternative presentations are possible. Therefore, external assets and liabilities are not presented on a strict asset and liability basis.

    Table P8Balance of Payments International Investment Position(currency in millions)
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Foreign financial assets*
    Of which:
    Equity instruments
    Debt instruments
    Direct investment abroad*
    Equity
    Reinvested earnings
    Other direct investment
    Portfolio investment
    Equity securities
    Debt securities
    Bonds and notes
    Money market instruments
    Financial derivatives
    Other investment
    Trade credits
    Loans
    Currency and deposits
    Other assets
    Reserve assets
    Monetary gold
    Special drawing rights
    Reserve position in the Fund
    Foreign exchange
    Other claims
    Foreign liabilities*
    Of which:
    Equity instruments
    Debt instruments
    Direct investment in country*
    Equity
    Reinvested earnings
    Other direct investment
    Portfolio investment
    Equity securities
    Debt securities
    Bonds and notes
    Money market instruments
    Financial derivatives
    Other investment
    Trade credits
    Use of Fund credit and loans from the Fund
    Other loans
    Currency and deposits
    Other liabilities
    Net international investment position
    Of which:
    Equity instruments
    Debt instruments

    As shown in this table, direct investment abroad is a proxy for direct investment assets, and direct investment in the host country is a proxy for direct investment liabilities; alternative presentations are possible. Therefore, external assets and liabilities are not presented on a strict asset and liability basis.

    Table P9External Debt(currency in millions)
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Levels at end of period
    Debt claims
    Monetary authorities
    General government
    Banks
    Other sectors
    Debt liabilities
    Monetary authorities
    General government
    Banks
    Other sectors
    Net external debt
    Monetary authorities
    General government
    Banks
    Other sectors
    Transactions during period
    Debt claims
    Monetary authorities
    General government
    Banks
    Other sectors
    Debt liabilities
    Monetary authorities
    General government
    Banks
    Other sectors
    Net external debt
    Monetary authorities
    General government
    Banks
    Other sectors
    Table P10Balance of Payments Ratios
    Time Period
    Series TitleP1P2P3P4P5P6P7P8P9P10
    Exports f.o.b./current account credits
    Imports f.o.b./current account debits
    Goods and services credits/gross domestic product
    Goods and services debits/gross national expenditure*
    Investment income credits/current account credits
    Investment income debits/current account debits
    Current account balance/gross domestic product
    Reserves at end of period/imports of goods and services
    Gross external debt/gross domestic product
    Gross external debt/exports of goods and services
    Net external debt/gross domestic product
    Net external debt/exports of goods and services
    Net international investment position/gross domestic product
    Debt service/exports of goods and services**

    Gross national expenditure is defined as gross domestic product plus imports of goods and services less exports of goods and services.

    For a discussion of the nature of debt service, see chapter 21, paragraphs 185-1186.

    Index

    Numbers refer to paragraphs; ranges (e.g. 175-185) are inclusive. References followed by the letter n indicate that information is contained in a footnote to the paragraph reference. References followed by the letter t indicate that information is contained in a table discussed in the paragraph reference.

    • Accuracy of estimates, 1109-1123

    • Administrative by-product data, 365-375. See also Foreign investment approvals

    • Advertising, 213, 215

    • Agents for international transport operators, 211, 223, 228, 229, 231, 502, 517, 520-522

    • Aid, 100, 105, 113. See also Development assistance; Grants

      • administrative expenses (costs), 355-356, 390, 576

      • food aid, 363, 648

      • educational assistance, 301, 464

      • in the form of goods, 467t

      • private aid, 635

      • project aid, 361

      • measured by partner countries, 385

    • Airline surveys, 235-240

    • Analysis and verification of results, 1067-1083

    • Analytical commentary in publications, 1161 -1163

    • Approvals information. See Administrative by-product data

    • Arrears, 114, 763

      • interest, 112, 618-619, 623, 800

      • principal, 800

    • Associated enterprises, 685. See also Direct investment

    • Balance of payments (BOP)

      • accrual basis, 17, 18, 102

      • cash basis, 17

      • classifications, 26

      • definition, 13

      • standard components, 429

    • Balance of payments coding system, 422-429, 1062-1063

    • Balance of payments ratios, 1074, 1184-1186

    • Balance of payments statistical process, 1033-1131. See also Publication; Questionnaire design; Survey design

    • Balance of payments worksheet, 406-408, 1035, 1054-1066

    • Bank for International Settlements (BIS) as a data source, 369-399. See also International banking statistics

    • Banks

      • external assets and liabilities, 396-401

      • in direct investment relationships, 693

      • surveys of, 199-208

    • Bearer securities, 280, 293, 829

    • Benchmark surveys, 891, 985

    • Bilateral reconciliations, 377-378, 808

    • Bonds and notes, 723-724, 726t. See also Portfolio investment; Securities

    • Bonus issues, 736, 738

    • BOP. See Balance of payments

    • Branches, 686. See also Direct investment

    • Brass plate companies, 233, 234, 706. See also Nonoperating enterprises

    • Broad Economic Categories (BEC), 46, 461

    • Capital account, 24, 26, 651-668. See also Capital transfers; Non-produced, nonfinancial assets

    • Capital and financial account, 24. See also Capital account; Financial account

    • Capital subscriptions to nonmonetary international institutions, 763, 787-788

    • Capital transfers, 25, 26, 631, 651-665

      • classification of, 653

      • data sources, 655-658

      • estimation in the absence of data, 659-660

      • extrapolations, 661

      • projections, 662

    • Change of ownership, 20, 45, 463, 466, 810-813, 819-820, 825, 829. See also Time of recording

    • Charter of vessels

      • bare boat charter, 498

      • dry charters, 237

      • slot charter, 500

      • space charter, 500

      • time charter, 499

      • voyage charter, 237, 500

      • wet charter, 237

      • without crews. See Operational leasing

    • Classification, 26

      • by partner country, 807-836

      • of capital transfers, 653

      • of current transfers, 632

      • of financial account and IIP, 670-681

      • of goods, 458t

      • of investment income, 591

      • of transportation services, 504t

      • of travel, 528

    • Coding system, 422-429, 1062-1063

    • Collection design. See Survey design

    • Collection forms, 8, 11, 978-1032. See also Questionnaire design

      • exploratory form, 983-989

      • enterprise surveys on compensation payable to foreign workers, 1016

      • enterprise surveys on external assets and liabilities, 180-186, 1017-1024

      • enterprise surveys on goods, 133-146, 1003-1005

      • enterprise surveys on insurance, 161-165, 1014

      • enterprise surveys on other services, 166-168, 1013

      • enterprise surveys on travel, 152-160, 1010-1012

      • form standards, 896

      • international transactions reporting system forms, 118-120, 991-1001

      • securities surveys, 285-294, 1025-1029

      • surveys of embassies and international institutions, 381-383, 1029

      • tailored forms, 893-895

      • testing of, 972-973

      • transportation surveys, 212-217, 1006-1009

      • traveler surveys, 1031-1032

      • via computer medium, 966

    • Collection registers. See Registers, collection registers

    • Collections from persons and households, 31, 31t, 300-327,637

    • Commissions, 154, 503, 504t, 530

    • Communication services, 538, 538t

    • Compensation of employees, 174, 301, 302, 316, 338, 456t, 570n, 574, 577-590, 646, 1031

      • data sources, 580-588

      • estimation in the absence of data, 589

      • extrapolations, 590

      • projections, 590

    • Computer and information services, 538, 538t

    • Computer systems

      • development of, 1085-1097

      • in an international transactions reporting system, 879

      • in enterprise surveys, 901

    • Confidentiality of source data, 841, 844, 1047

    • Consignment trade, 466, 466t

    • Constant price series, 1190-1191

    • Construction activity, treatment of, 452-455, 712-717

    • Construction services, 453, 538, 538t, 539, 547-550

    • Conversion, 22, 562

      • in an international transactions reporting system, 83-86

      • in enterprise surveys, 198

      • in international trade statistics, 50

      • in official sources, 349, 351

      • with multiple exchange rates, 435-441

    • Copyrights. See Non-produced, nonfinancial assets

    • Cost recovery, 1193-1194

    • Country codes, 816

    • Coverage ratios, 899

    • Credit and debit cards used by travelers, 157-158, 318, 529, 529t, 530

    • Creditor Reporting System (CRS). See Organisation for Economic Cooperation and Development (OECD) debt data

    • Currency and deposits, 763, 764, 765t

    • Currency swaps, 752, 757. See also Financial derivatives

    • Current account, 24, 25. See also Current transfers; Goods; Income; Services

    • Current transfers, 24, 25, 631-650, 651-652

      • classification of, 632

      • data sources, 634-642

      • estimation in the absence of data, 638-642

      • extrapolations, 643

      • projections, 645

    • Custodians, 250, 263. See also Financial intermediaries; Nominees

    • DAC. See Development Assistance Committee

    • Data extraction, 1042-1049

    • Data models, 412

      • for compensation of employees, 589

      • for deriving stocks from transactions data, 740-743

      • for deriving transactions from stocks data, 732-739, 778-783

      • for foreign exchange services, 567

      • for government services n.i.e. credits, 572-574

      • for investment in land, 721-722

      • for investment income, 598-599

      • for migrants’ transfers, 660

      • for technical assistance, 641

      • for transportation services, 513-514, 522-523

      • for travel, 529t, 536

      • for withholding taxes, 642

      • for workers’ remittances, 639-640

    • Data providers

      • dealing with non-response, 921-925

      • developing relationships with, 919-920

      • introduction to BOP reporting, 986

      • reactions to BOP questionnaires, 930-933

    • Databases, 1039-1041

    • Debt, 675, 806

      • cancellation of, 113

      • forgiveness, 653, 654t, 657, 661, 800

      • government (official), 331, 342-349

      • income on (see also interest), 593t

      • measurement using data from international institutions, 391-403

      • ratios. See Balance of payments ratios

      • rescheduling of, 113

      • to equity conversions, 113, 802-805

    • Debtor/creditor principle, 811-812, 817, 829

    • Debtor Reporting System (DRS). See World Bank debt data

    • Deep discount and zero coupon bonds, 112, 621, 623, 760-762

    • Defense transactions, 338-340, 544

    • Derivatives. See Financial derivatives

    • Deriving stocks from transactions data, 740-743

    • Deriving transactions from stocks data, 732-739, 778-783

    • Development assistance, 336. See also Aid; Grants

      • measurement by means of Development Assistance Committee data, 388-390

      • measurement by means of official sources—donor countries, 353-358, 636

      • measurement by means of official sources—recipient countries, 359-364, 636, 637

    • Development Assistance Committee (DAC), 354-357, 388-390, 576

    • Direct investment, 26, 101, 103, 105, 369, 373, 467t, 671, 682-722

      • and construction activity, 442-451, 712-717

      • and land, 718-722

      • and mobile equipment, 452-455

      • and nonoperating enterprises, 705-711

      • and reinvested earnings, 602-613

      • and transfer pricing, 487-491

      • classification by partner country, 833-836

      • concept, 682-683

      • data sources, 696-698

      • definition, 685-692

      • income on, 591, 593t, 595, 598, 600

      • motivation, 684

      • valuation, 699-704

    • Direct placement of securities, 271-272

    • Direction of investment, 674, 695

    • Discounts (on securities), 620n, 760-762

    • Dissemination media, 1153-1156

    • Dividends, 369, 591, 599-600. See also Investment income

    • Double entry accounting system, 16, 23

    • Drilling rigs, 246

    • Economy

      • definition, 14

    • EDI (electronic data interchange), 121-127

    • Education services, 301, 302, 355, 358, 364, 375, 456t, 532-534, 633t

    • Electricity, 39t, 463t

    • Electronic reporting, 121-127

    • Embassies, surveys of, 380-383, 545, 572, 576, 587, 637, 667, 1030

    • Embassy transactions, 301, 338-340, 380-383, 385, 456t, 570-575, 577, 579, 587, 666-667, 1030

    • Employee compensation. See Compensation of employees

    • Enterprise group, 848-849

    • Enterprise surveys, 31, 31t, 130-208

      • census approach, 886, 891

      • collection processes, 910-918

      • collection register, 910-913

      • collection strategies, 883-904

      • compensation of employees, measurement of, 584, 1016

      • conversion, 198

      • coverage sources, 367, 370, 373, 374

      • current transfers, measurement of, 635

      • direct investment, measurement of, 696, 696t

      • external assets and liabilities, measurement of, 176-198, 1017-1024

      • form types, 893-895

      • freight and insurance on imports, measurement of, 149-151

      • goods, measurement of, 133-137, 140-148, 468-469, 1003-1005

      • insurance, measurement of, 161-166, 561, 1014

      • investment income, measurement of, 593-595, 621

      • merchanting, measurement of, 138-139

      • other investment, measurement of, 768

      • other services, measurement of, 167-168, 543, 1013

      • partial coverage approach, 886-888, 890, 891

      • partner country classification, 829

      • private aid, measurement of, 175

      • sample surveys, 886, 888-891

      • special bank data, 174, 656

      • statistical units, 849

      • surveys of banks and other financial institutions, 199-208

      • transactions associated with foreign workers, measurement of, 169-173

      • transportation services, measurement of. See Transportation surveys

      • travel, measurement of, 152-160, 532, 1010-1012

    • Equity, 675

      • income on, 593t. See also Dividends; Remittances of profits; and

      • Reinvested earnings

    • Errors, 1067, 1084, 1112-1117. See also Analysis and verification of results; Quality

      • in an international transactions reporting system, 880-881

      • in data extraction, 1045

      • in source data, 1046

      • net errors and omissions, 23, 116, 795, 814, 1075, 1120-1122

      • sample error, 889, 1115

    • ES. See Enterprise surveys

    • Establishment, 848

    • Estimation, 409-414, 1050-1053

      • using ratios, 410

    • Exceptional financing, 800-805, 1176

    • Exploratory surveys, 865-872, 983-989

    • Export applications, 370,

    • Exports of goods. See Goods

    • External assets and liabilities, 591-592. See also Debt

      • classifications, 187-189, 195-196

      • measurement by means of enterprise surveys, 176-198, 1017-1024

      • of banks, 396-401

      • of government, 342-349

      • of migrants, 456t

      • of persons (households), 301, 302, 456t

    • External debt. See Debt

    • Extrapolations, 413

      • of capital transfers, 661

      • of compensation of employees, 590

      • of current transfers, 643

      • of embassy and defense transactions, 340

      • of financial account and IIP, 793-795

      • of investment income, 600

      • of transportation services, 515, 526-527

      • of travel, 537

    • Financial account, 24, 26, 592, 669-806. See also Direct investment; External assets and liabilities; Other investment; Portfolio investment

      • classification by partner country, 811-812

      • classifications, 670-681

      • measurement by means of an international transactions reporting system, 114

    • Financial derivatives, 276, 739, 744-759

    • Financial flows, 29

    • Financial instruments, 24

    • Financial intermediaries, 177, 299, 593, 595, 625, 627

      • collections from. See Securities, surveys of

      • nominees, 250, 263, 265-268, 287-288, 294, 296

      • security brokers (dealers), 250, 271-275, 280, 287-288, 296

    • Financial intermediation services indirectly measured (FISIM), 625-630

    • Financial investments. See External assets and liabilities

    • Financial leasing, 39t, 112, 236, 463t, 498, 784-786

    • Financial services, 154, 176, 197, 260, 346, 538, 538t, 539, 594, 595, 727, 753, 1020

    • Financing gap, 796, 1026

    • Fines, 633t

    • Fish, 39t, 247-248, 463t

    • Fishing vessels, 247-249

    • Flags of convenience, 233, 494

    • Forecasting. See Projections

    • Foreign aid. See Aid

    • Foreign-controlled enterprises, 691

    • Foreign exchange applications, 368-369

    • Foreign exchange record systems, 63. See also International transaction reporting system

    • Foreign exchange services, 562-568

    • Foreign investment approvals, 367

      • direct investment, measurement of, 696, 696t

    • Foreign workers, 639-640, 643

    • measurement of transactions by means of enterprise surveys, 168-173, 1016

    • Forgiveness of liabilities, 651. See also Debt, forgiveness

    • Forms. See Collection forms; Questionnaire design

    • Forward foreign exchange contracts, 752. See also Financial derivatives

    • Forward Rate agreements, 276n

    • Freight, 212, 245, 500, 501, 504t

      • inland freight, 225, 243

      • on exports, 504t, 514, 515

      • on imports, 149-151, 224, 464, 504t, 505-507, 511, 512, 517-519

    • Fuel and provisions, 39t, 213, 463t, 502

    • Functional type of investment, 26

    • Fund managers, 250, 263, 270, 277, 281. See also Financial intermediaries

    • Futures, financial, 276, 752, 754-756. See also Derivatives

    • General government

      • ledger, 330, 335, 339

      • nature of, 330-332

      • measurement of transactions by means of official sources, 330-349

    • General trade system, 40-45

    • Gold

      • monetary, 39t, 464t

      • nonmonetary, 39t, 463t

    • Goods, 24, 25, 458-491

      • classification, 458t

      • classification adjustments, 464, 467

      • classification by partner country, 53, 810, 818-826

      • commodity classifications, 46, 470-471

      • coverage, 45, 370, 477

      • coverage adjustments, 465, 467

      • differences between requirements in balance of payments and international trade statistics, 45, 51, 61

      • estimation in the absence of data, 472-477

      • food aid, 363, 648

      • for processing, 39t, 106, 136, 463t, 467t, 484-486, 1004

      • for repair, 39t, 137, 463t, 1004

      • for temporary admission, 39t, 463t

      • government imports, 336, 341

      • imports of ships, 234

      • lost or destroyed, 39t, 463t

      • measurement by means of an international transactions reporting system, 104-109, 467

      • measurement by means of enterprise surveys, 133-137, 140-147, 468-469, 1003-1005

      • measurement by means of international trade statistics, 60-62, 460-466

      • on consignment, 466, 466t

      • point of valuation, 48, 49, 51, 209

      • projections, 478-483

      • quantity measurement, 52

      • satellites, 245

      • timing adjustments, 466, 467

      • transfer pricing, 487-491

      • United States/Canada reconciliation, 378

      • valuation, 51

      • valuation adjustments, 465, 467

    • Government. See General government

    • Government services n.i.e., 338, 538, 538t, 539, 542, 544, 569-576

    • Government trade, 39t, 463t

    • Grants, 358, 633t, 644, 654t, 662, 800

    • Harmonized Commodity Description Coding System, 46

    • Health services, 301, 302, 375, 456t

    • Hedges, 198, 758. See also Financial derivatives

    • Historical data, 1192

    • Household expenditure surveys, 325

    • Household income surveys, 326

    • Households. See Persons and households

    • IIP. See International investment position

    • Immigrant application records, 371

    • Imports of goods. See Goods

    • Income, 24, 25, 577-630. See also Compensation of employees; Investment income

      • accrual basis for recording, 21, 112

      • classification by partner country, 810

      • measurement by means of an international transactions reporting system, 112

      • on investment in land, 721

    • Insurance, 538, 538t, 539, 551-561, 633t, 763

      • measurement by means of enterprise surveys, 161-166, 635, 1014

      • on imports, 149-151,464, 505-507

    • Interest, 591, 594, 599-600, 625-630. See also Investment income

      • on securities issued at a discount or premium, 760-762

      • recording on an accrual basis, 614-624

      • subsidies, 355, 390

    • Interest rate swaps, 276n

    • International accounts, 3

    • International banking statistics

      • Bank for International Settlements (BIS), 396-399

      • International Monetary Fund (IMF), 400-401

      • use in BOP compilation, 771-777

    • International institutions

      • as a source of data, 380-383, 387-403,

    • International investment position (IIP), 28-30, 592. 669-806. See also External assets and liabilities

      • classification by partner country, 810

      • classifications, 670-681

    • International trade statistics (ITS), 31, 31t, 36-62

      • commodity classifications, 46

      • compilation, 54-59

      • coverage, 39, 370

      • currency conversion, 50

      • differences with BOP requirements, 45, 51, 61

      • general trade system, 40-45

      • goods, measurement by means of international trade statistics, 460-466

      • international guidelines, 37-53

      • migrants’ effects, 55, 60, 656

      • partner country classification, 53, 818-826

      • preliminary international trade statistics, 475-476

      • quality of, 58, 59

      • quantity measurement, 52

      • special trade system, 40-45

      • statistical boundary, 39

      • supplemented with enterprise surveys, 140-146

      • use in international accounts, 60-62

      • valuation, 47-49

    • International transactions reporting system (ITRS), 31, 31t, 63-121

      • aggregating results, 78-82

      • bundling of transactions, 91-93

      • capital account, measurement of, 667, 668

      • classification of transactions, 76-77, 120

      • closed ITRS, 64, 68, 118, 874

      • collection processes, 905-909

      • collection strategy, 873-882

      • compensation of employees, measurement of, 581-583

      • comprehensiveness, 64

      • currency conversion, 83-86

      • data items collected, 75

      • direct investment, measurement of, 696, 696t

      • financial account, measurement of, 114

      • goods, measurement of by means of an ITRS, 104-109, 467

      • government services n.i.e, measurement of, 570, 572, 574

      • income, measurement of, 112

      • insurance services, measurement of, 561

      • investment income, measurement of, 593-594, 623

      • model forms, 118-120, 991-1001

      • model ITRS, 117-120

      • model of a simple ITRS, 66-94

      • modifying the simple model, 95-96

      • noncash transactions, 97-103, 634

      • offshore banking units, 96

      • open ITRS, 64, 874

      • options, measurement of, 750

      • other investment, measurement of, 766-767

      • other services, measurement of, 111, 541-542

      • partial ITRS, 64, 874

      • partner country classifications, 827-828

      • preparation of a BOP statement, 104-116

      • quality of, 65, 880-881, 907

      • reconciliation of results, 81

      • scope, 63, 66-74

      • settlement transactions, 71, 79

      • statistical unit, 849

      • supplemented with enterprise surveys, 147

      • thresholds, 94, 877

      • time of recording, 87-90

      • transfers, measurement of, 113, 634, 656, 657

      • transportation services, measurement of, 110, 511, 516-518, 521, 522

      • travel, measurement of, 110, 530-531

      • valuation practices, 91

    • International transportation surveys. See Transportation surveys

    • Interpolation, 413

    • Investment grants. See Grants

    • Investment income, 591-630, 670, 674. See also Dividends; External assets and liabilities; Interest; Reinvested Earnings; Remitted profits

      • classification of, 591

      • data sources, 593-597

      • estimation in the absence of data, 598-599

      • extrapolations, 600

      • projections, 601

    • ITRS. See International transactions reporting system

    • ITS. See International trade statistics

    • Joint ventures, mobile equipment, 238, 451

    • Land, 666, 668, 718-722. See also Real estate

    • LCFAR. Sec Liabilities constituting foreign authorities’ reserves

    • Leases. See also Charter of vessels

      • financial, 39t, 112, 236, 463t, 498, 784-786

      • operational, 39t, 210, 212, 213, 496, 498, 538t

    • Legal authority, 841-844, 924

    • Liabilities constituting foreign authorities’ reserves (LCFAR), 297, 798-799

    • License fees, 341, 538, 538t, 667

    • Lists. See Registers

    • Loading and unloading of mobile equipment. Sec Stevedoring

    • Loans, 763, 764, 765t

      • as part of development assistance, 358

      • used to finance exports and imports, 98, 105, 467t

    • Mail, 212, 226

    • Margin payments, 753

    • Market value, 20, 51, 207, 699-704, 726, 765, 804-805. See also Valuation

    • Maturity, 679

    • Medical services. See Health services

    • Membership fees paid to international organizations, 633t

    • Merchanting, 107, 138-139, 538t, 1004

    • Migrants, treatment of, 456t, 663-665

    • Migrants’ effects, 105, 463t, 467t

    • Migrants’ transfers, 174, 301, 302, 371, 456t, 653, 654t, 656, 659-660, 661, 662, 663-665

    • Migration statistics, 304-314, 536, 589, 640, 656

      • alternatives to, 314

      • classifications, 312-313

      • international recommendations, 308-311

    • Military goods, 39t, 463t

    • Mobile equipment, 209, 442-451, 463t, 493-494, 501-502

    • Money market instruments, 723-724, 726t. See also Portfolio investment; Securities

    • Multilateral settlements, 814-815

    • Multiple exchange rates, 435-441, 804

    • National accounts, 2, 6, 318n, 430-433, 440-441, 625, 630, 649-650, 676, 678, 1190. See also System of National Accounts 1993

    • Net errors and omissions, 23, 116, 795, 814, 1075, 1120, 1122

    • Net worth, 700-702

    • Nominees, 250, 263, 265-268, 287-288, 294, 296

    • Noncash transactions

      • measurement of in an international transactions reporting system, 97-103

    • Nonoperating enterprises, 705-711

    • Non-produced, nonfinancial assets, 26, 666-668

    • Non-response, 888, 921-925

    • Nostro accounts, 87, 87n

    • Observation studies. See Questionnaire design, testing

    • Official sources, 31, 31t, 328-375, 544, 570, 586, 596, 636, 655, 668, 769, 800

    • Offshore banking units, 96, 205

    • Operational leasing, 39t, 210, 212, 213, 496, 498, 538t

    • Operators of mobile equipment, 210, 211, 442-443, 449, 451, 493-503, 511-527

    • Options, 276, 744-751. See also Financial derivatives

    • Organisation for Economic Cooperation and Development (OECD) debt data, 402-403

    • Other business services, 538, 538t

    • Other investment, 26, 673, 763-788

      • classification of, 764

      • data sources, 765-770

      • deriving transactions from stocks, 778-783

      • income on, 591, 593t, 622, 630

    • Other services, 111, 167-168, 538-544. See also Communications services; Computer and information services; Construction services; Financial services; Government services n.i.e.; Insurance services; Other business services; Personal, cultural, and recreational services; Royalties

      • data sources, 540-545

      • extrapolations, 546

      • projections, 546

    • Overall balance, 1174-1176

    • Owners of mobile equipment, 210, 211, 493-498

    • Package tours, 159, 318, 323

    • Partial coverage collections, 886-888, 890-891

    • Partner countries

      • as a source of data, 31, 31t, 377-386, 529t, 535, 545, 556, 576, 656, 769,

      • classification of balance of payments and international investment position statements by, 807-836

    • Passenger fares. See Passenger services

    • Passenger services, 212, 218, 226, 301, 302, 319, 323, 456t, 501, 504t, 508-510, 513, 515, 520, 526 on domestic routes. See Travel

    • Patents. See Non-produced, nonfinancial assets

    • Pensions, 301, 302, 341, 633t, 637

    • Perceived value, 701n

    • Periodicity of publications, 1141-1147

    • Perpetual inventory method, 740

    • Personal, cultural, and recreational services, 538, 538t

    • Persons and households

      • collections from, 31, 31t, 300-327, 637

      • measurement of transactions, 302

      • types of transactions, 301, 456

      • with multiple residences, 457

    • Population frame. See Registers, population registers for BOP collections

    • Port charges. See Port services

    • Port services, 341, 502, 504t, 514, 522-524. See also Stevedoring

    • Portfolio investment, 26, 672, 723-762. See also Securities

      • classifications, 724-725

      • data sources, 726-731

      • deriving stocks from transactions data, 740-743

      • deriving transactions from stocks data, 732-739

      • income on, 593t, 598, 620, 630

    • Portfolio managers. See Fund managers

    • Postal items, 39t, 55, 463t

    • Preliminary data, 475-476, 1101, 1124-1125, 1151

    • Premiums (on securities), 620n, 760-761

    • Prepaid travel, 159, 529, 529t, 530

    • Prepayments, 99

    • Presentation of BOP Statistics. See Publication

    • Projections, 6, 7, 415-421

      • of capital transfers, 662

      • of compensation of employees, 590

      • of current transfers, 644

      • of financial account and international investment position, 793-797

      • of goods, 148, 1005

      • of investment income, 601

      • of other services, 546

      • of transportation services, 515, 526-527

      • of travel, 537

    • Publication, 1084, 1137-1194

      • consultation with users, 1139-1140

      • cost recovery, 1194

      • dissemination media, 1153-1156

      • frequency and timeliness, 1148-1152

      • historical data, 1192

      • of detailed and supplementary statistics, 1178-1186

      • periodicity, 1141-1147

      • presentation of key aggregates, 1166-1177

      • seasonally adjusted, trend, and constant price series, 1187-1191

      • security, 1193

      • supporting material, 1157-1165

    • Quality. See also Accuracy of estimates; Analysis and verification of results; Errors; Timetables; Revisions

      • of BOP statistics, 6

      • of international trade statistics, 58-59

    • Quality control

      • in an international transactions reporting system, 881, 907-908

      • in enterprise surveys, 914-916

      • verifying reported data, 926-927

    • Questionnaire design, 928-1032, see also collection forms

      • color, 963-964

      • form standards, 896

      • page one of forms, 934-939

      • questions and instructions, 940-949

      • steps in questionnaire design, 967-977

      • testing, 972-973

      • types of questions, 950-958

    • Rail transport, 231

    • Real estate, 367

    • Real resources, 24

    • Reconciliation

      • account, 30, 669

      • bilateral, 377-378, 808

      • in an international transactions reporting system, 81

      • of income with stocks, 194

      • of stocks and flows in enterprise surveys, 190-193

    • Regional balance of payments and international investment position statistics. See Partner countries, classification of BOP and IIP statements by

    • Registers

      • collection registers, 910-913

      • for enterprise surveys, 367, 373, 374

      • population registers for BOP collections, 850-872, 961, 985, 987, 990

      • security registers, 263-265, 269

      • shipping registers, 221, 229, 230

    • Reinvested earnings, 103, 112, 369, 602-613. See also Investment income

    • Remittances of profits, 369, 373, 447. See also Dividends; Investment income

    • Repairs to goods. See Goods, for repair

    • Reporters. See Data providers

    • Rescheduling, 800

    • Reserve assets, 26, 673, 789-792

      • measurement in an international transactions reporting system, 115

      • measurement in official sources, 350-352

    • Resources, 1106-1108

    • Respondents. See Data providers

    • Rest of the world account. Sec National accounts

    • Revisions, 960, 1124-1136

    • Road transport, 243

    • Royalties, 538, 538t, 667

    • Sample error, 889, 1115

    • Sample surveys, 320, 886, 888-891, 985

    • Sampling, 294, 411

    • Satellites, 245

    • Seasonally adjusted series, 1187-1189

    • Secondary market transactions, 273-275

    • Sector, 26, 188, 677-678

    • Securities. See also Portfolio investment

      • bearer, 280, 293, 829

      • classification, 254

      • description of, 251

      • direct placements, 271-272

      • interest accrual, 615, 620-621

      • issued by government, 348

      • issues and redemptions, 271-272

      • problems in surveys, 295-299

      • reference numbers, 262, 289-292, 298, 1026, 1027

      • registers, 263-265, 269

      • secondary market transactions, 273-275

      • surveys of, 130, 250-299, 728-731, 1025-1029

      • treatment in international trade statistics, 39t

      • treatment of discounts and premiums, 760-762

    • Security brokers (dealers), 250, 271-275, 280, 287-288, 296

    • Services, 24, 25, 492-576. See also Other services; Transportation services; Travel

      • classification by partner country, 810

      • measurement in enterprise surveys, 167-168

      • use of an international transactions reporting system in compilation, 111

    • Shareholder funds, 702

    • Shell companies. See Brass plate companies

    • Shipping registers, 221, 229, 230

    • Shipping surveys, 220-234

    • Smuggling, 477

    • SNA. See System of National Accounts 1993

    • Space transport, 245

    • Special purpose entities. See Brass plate companies; Nonoperating enterprises

    • Special trade system, 40-45

    • Standard International Trade Classification (SITC), 46, 471

    • Statistical legislation. See Legal authority

    • Statistical process. See BOP statistical process

    • Statistical unit, 847-849

      • classification of in an enterprise surveys, 187-189

      • in airline surveys, 235-238

      • in shipping surveys, 220-221

    • Stevedoring, 227, 504t. See also Port services

    • Stock exchange value. See Perceived value

    • Students. See Education services

    • Subsidiaries, 685. See also Direct investment

    • Supply and utilization analysis, 474, 478, 483

    • Survey design, 837-927

    • Survey of national BOP compilers, 9, 11

    • Surveys of travelers. See Travelers, surveys of

    • System of National Accounts 1993. See also National accounts

      • and insurance, 551

      • and financial intermediation services indirectly measured, 625

      • relationship with the Balance of Payments Manual, 2, 430-433

      • treatment of land, 718

      • treatment of multiple exchange rates, 440

    • Tailored forms, 893-895

    • Tax data, 372-374, 636

    • Technical assistance, 355, 362, 633t, 641, 643, 645-647

    • Time of recording, 20. See also Change of ownership

      • in government ledgers, 339

      • in an international transactions reporting system, 87-90

      • in international trade statistics, 40-45, 466

      • of interest, 614-624

    • Timetables, 1098-1105

    • Trade credit, 764, 765t

      • measurement by means of an international transactions reporting system, 99, 114, 467t, 767

      • on exports, 393

      • on government imports, 336

    • Training, 1108

    • Transactions

      • definition, 15

    • Transactor principle, 811-812, 827

    • Transfer pricing, 47, 465, 465t, 467t, 487-491

    • Transfers, 15, 19. See also Capital transfers; Current transfers

      • classification by partner country, 810

      • measurement in an international transactions reporting system, 113

    • Transit trade, 39t, 463t

    • Transport crews, 456t

    • Transportation services, 492-527. See also Transportation surveys

      • and brass plate enterprises, 709n

      • classification of, 504t

      • measurement by means of an international transactions reporting system, 110

      • provided by government, 341

      • related to food aid, 648

    • Transportation surveys (ES), 130, 209-249, 511, 516-518, 521-522

      • airline, 235-240

      • inland waterway, 244

      • rail, 242

      • road, 243

      • shipping, 220-234

    • Travel, 301, 302, 456t, 502, 528-537, 581, See also Travelers, surveys of

      • and government employees, 341

      • and medical patients, 456t

      • and migrants, 456t

      • and students, 456t

      • and technical assistance personnel, 646

      • classification of, 528

      • data sources, 529-535

      • domestic routes, 212, 501

      • extrapolations, 537

      • goods acquired by travelers, 55n

      • measurement by means of an international transactions reporting system, 110

      • measurement by means of enterprise surveys, 152-160, 1010-1011

      • measurement by means of household expenditure surveys, 325

      • measurement by means of surveys of travelers, 315-324

      • projections, 537

      • United States/Canada reconciliation, 378

    • Travelers, surveys of, 315-324, 533-534, 585

      • memory recall, 322

      • methodology, 317-319

      • model questionnaire, 1031-1032

      • monitoring of, 324

      • treatment of children, 321

      • treatment of group travel, 321

    • Travelers’ checks, 155-156, 318, 529, 529t, 530

    • Trend series, 1189

    • Unit of account, 22, 434-435

    • Users of BOP statistics, 4, 408, 840, 1067, 1079-1080, 1083, 1098-1099, 1123, 1135-1136, 1139-1140, 1144, 1146

    • Valuation, 20, 465, 467. See also Market value; Transfer pricing

      • historical cost versus market value, 207, 703

      • in an international transactions reporting system, 91

      • in international trade statistics, 47-49

      • in official sources, 349

      • of debt-to-equity swaps, 802-805

      • of direct investment, 699-704

      • of other investment, 765

      • of portfolio investment, 726

    • Verification of results, 1067-1083

    • Volume series. See Constant price series

    • Vostro accounts, 87, 87n

    • Wages and salaries. See Compensation of employees

    • Water, 39t, 463t

    • Withholding taxes, 176, 178, 197, 341, 346, 372, 594, 595, 633t, 634, 642, 643, 1020, 1026

    • Workers’ remittances, 170-172, 174, 301, 302, 325, 326, 456t, 632, 633t, 635, 639, 643, 646,

    • Worksheet, 406-408, 1035, 1054-1066

    • World Bank debt data, 392-395

    • Yield analysis, 194, 598-600, 624, 630

    • Zero coupon bonds. See Deep discount and zero coupon bonds

    The concept of residency is fully discussed in chapter 4 of the BPM.

    These types of transactions are collectively called transactions in real resources.

    The double entry accounting system is explained fully in chapter 2 of the BPM.

    In the BOP accounting framework, a credit entry is recorded for exports of goods and services, income receivable, increases in liabilities, or reductions in financial assets. A debit entry is recorded for imports of goods and services, income payable, reductions in Liabilities, or increases in financial assets.

    Because the first entry is a debit entry in this case, the offsetting transfer entry is recorded as a credit entry. (That is, transfer entries are opposite to those entries that they offset.)

    These concepts are explained in detail in chapters 5 and 6 of the BPM,

    For most countries, the unit of account is the national currency but, for some, another currency (e.g.. United States dollars) may be used.

    “International Trade Statistics: Concepts and Definitions,” United Nations Statistical Papers, Series M, No. 52, Rev. 1 (New York, 1982).

    “Customs Areas of the World,” United Nations Statistical Papers, Series M, No. 30, Rev. 1 (New York, 1989).

    “Standard International Trade Classification,” United Nations Statistical Papers, Series M, No. 34, Rev. 3 (New York, 1986) and “Classification by Broad Economic Categories, Defined in Terms of SITC, Rev. 3,” United Nations Statistical Papers. Series M, No. 53, Rev. 3 (New York, 1989).

    United Nations Statistical Papers, Series M, No. 52, Rev. 1 (New York, 1982), 34.

    Goods acquired by travelers are recorded in the travel item in the BOP.

    The client may receive a bank foreign exchange draft, which would be sent to the nonresident parry, or give instructions to the bank for funds to be placed in a foreign bank account of the nonresident party. While there may be a timing difference between the client undertaking the transaction with his or her bank and the change in the banks foreign exchange (nostro) account, for purposes of simplicity, both transactions are assumed to take place simultaneously.

    In some systems, the basic form for recording client transactions is completed by a member of the bank staff.

    These data items are set out on ITRS model collection form 3.

    A model ITRS classification (see form 3C) is based upon the BPM classification presented in tables 10.1, 10.2, and 10.3.

    A net basis means that, for a particular item, the difference between the sum of the credit entries and the sum of the debit entries is included, as appropriate, as a net credit or net debit entry. In settlement transactions, the difference should equal zero.

    For example, in the BOP, an imported capital good may be recorded, in imports of goods and services, by using a period average exchange rate. In the national accounts, the same good may be recorded, in the capital formation series, by using the midpoint exchange rate applicable to the transaction.

    If transactions were Initially recorded in both the common unit of account and the foreign currency denomination, it would be possible to compile results by using the alternative methodologies described in the text. Results from use of the two methods could be compiled from each transaction (or from a sample of transactions) and compared. While this procedure adds an additional cost to the ITRS, collection of data via two currency values provides a potential check that each transaction is correctly recorded; a set of conversion ratio checks could be developed to validate reported data. Any ratio falling outside predetermined limits could be investigated.

    A vostro [your] account is another bank’s account with the reporting bank, while a nostro [our] account is the reporting bank’s account with another bank.

    If these items are not included in an ITRS, details of transactions in excluded assets and liabilities and corresponding stock positions should be collected separately and included in BOP and IIP compilations.

    For example, if a bank receives a draft to be sent for collection, the draft may be recorded when it is purchased from the client, when it is sent for collection, or when it is recorded by the correspondent bank.

    If certain transactions were split into component parts, it would be difficult to match the component transactions with the entry recorded in a bank’s nostro or vostro account. This problem could be overcome if, in the transaction reference number, the last one or two digits recorded individual split entries; in other words, entries with the same reference number up to the last two digits could be amalgamated for purposes of matching with the nostro or vostro account entry.

    See chapter 4, paragraph 136 for a discussion of the treatment.

    See chapter 4, paragraph 138 for a discussion of the treatment.

    See chapter 12, paragraph 507 for a discussion of the various methods available to do this.

    The recording of reinvested earnings and interest income on an accrual basis is discussed in chapter 13, paragraphs 602-613 and 614-624, respectively.

    The treatment of financial Leases is discussed in chapter 16, paragraphs 784-786.

    To obtain the full BOP classification, some cross-classification is required; e.g., direct investment abroad, equities would reflect the purchase of foreign exchange to acquire shares (transaction code 710) in a foreign branch or subsidiary, etc. (other party code 2),

    While a commodity breakdown is not essential for BOP compilation, it is common practice for the compiler to publish a commodity breakdown along with the main BOP aggregates because this information is necessary’ if the compiler and the analyst are to have a proper understanding of BOP estimates. In addition, a commodity breakdown is a valuable data validation tool.

    Data on volumes are not essential but may be useful for enhancing analysis and data validation; export volumes can be collected for homogeneous commodities only.

    The treatment of goods for processing is explained in detail in chapter 10 of the BPM and in chapter 11 of this Guide.

    These discrepancies will generally be evident only when the opening level for one period is compared with the previous period’s closing level and found to be different. Any attempt to replace one of these estimates with the other will have an impact on the other changes item in either the current or previous period.

    Income yield is obtained by expressing income accrued during a period as a percentage of the average of the stock positions of external assets (or liabilities) during the period. For a further discussion of this type of analysis, see chapter 13, paragraphs 598-599.

    These requirements, as they pertain to financial transactions and related items, are discussed in detail in chapter 16 of this Guide.

    Alternatively, some compilers may prefer to collect data denominated in original currencies and undertake the conversions themselves.

    Special articles could be published to call attention to and, if possible, quantify the various differences between these data sources.

    However, if there were international freight services associated with delivery of the satellite to the owner’s country, these should be measured in the BOP.

    Enterprises that manage their own share or bond registers usually do so by setting up a separate operation, and their accounting records and procedures are usually similar to those of intermediaries performing similar functions.

    A database of securities could identify, for each security, the issuer, the type of security (the latter should be consistent with the instrument classification developed for the BPM), the currency in which the security is denominated, and income payment arrangements. The database could be linked to a register of issuers that should identify, inter alia, issuers as resident or nonresident entities. For resident entities, the sector should be recorded and, for nonresident entities, the country of residence should be recorded. This register could be part of the BOP enterprise register, which is discussed in chapter 18, paragraphs 850-872.

    The coding system for securities may identify the issuer, the type of security, the country of issue, the currency in which the security is denominated, the maturity of the security, and income payment arrangements.

    A company may maintain a shareholder register for purposes of identifying shareholders and their voting entitlements, issuing invitations for shareholders to attend company meetings, and paying dividends. Bond registers are maintained for similar reasons.

    All of an economy’s transactions in securities issued by nonresidents, regardless of whether the transactions are between resident and nonresident parties or between two resident parties, are recorded in the BOP.

    Transactions in interest rate derivatives, such as interest rate swaps and forward rate agreements, should be recorded (on a net basis and after adjustment for any service charges is made) as investment income in the BOP.

    Securities issued by residents and held by residents are outside the scope of the IIP, and transactions between residents in such securities are excluded from the BOP. However, should residents purchase from (or sell to) nonresidents securities issued by residents, such transactions should be included in the BOP.

    Surveys of security owners would still be necessary to measure those securities not managed by resident portfolio managers. The reporting instructions for these surveys should clearly instruct respondents not to report securities that are managed by resident portfolio managers in order to avoid duplication.

    For example, in the United Kingdom, periodic surveys of share registers are undertaken. A 1989 survey was based upon a study of about 100,000 holdings of ordinary shares from a sample of 220 companies listed on the London Stock Exchange. The survey used a scheme in which probability of selection was proportional to size. These surveys provide benchmarks for equity securities held by nonresidents. Between these surveys, reliance is placed upon surveys of security dealers, which measure—on a transaction basis—purchases and sales of equity securities by nonresident investors. Data from share surveys, apart from being used to correct any gaps in surveys of security dealers, are used to provide a domestic sector breakdown of stock positions and transactions.

    Data on the industry of the resident entity and the sector of the nonresident entity are not required to meet the BPM standard classification requirements. This information is suggested for inclusion as compilers and users of BOP statistics may consider it of analytical interest.

    An exception to the 12-month rule in BOP statistics is students. Students studying in foreign countries are considered, regardless of the length of stay in host countries, residents of their original countries.

    ”Recommendations on Statistics of International Migration,” United Nations Statistical Papers, Series M, No. 58 (New York, 1980).

    ”International Migration Statistics,” United Nations Statistical Papers, Series M, No. 53 (New York, 1953).

    For arrival data, the length of stay recorded would be the anticipated length of stay. For departures, the actual length of stay would be recorded.

    Guidelines on international tourism statistics are contained in “Provisional Guidelines on Statistics of International Tourism,” United Nations Statistical Papers, Series M, No. 62 (New York, 1978).

    In terms of numbers of visitors, hotel registrations will double count visitors staying at more than one hotel and miss those visitors who do not stay at hotels (for example, those who stay only with relatives and friends).

    This type of classification is relevant when one is relating travel estimates to national accounts data. Domestic consumption of particular goods and services is often estimated by subtracting sales to nonresidents from, and adding residents’ acquisitions of goods and services abroad to, domestic sales.

    In this chapter, the term central bank is used interchangeably with the term monetary authorities.

    Amounts paid into domestic bank accounts of persons posted abroad probably would not be used for expenditure on goods and services in host countries.

    In the BOP, airport departure taxes are considered to be part of travel services provided to nonresidents rather than transfers.

    See chapter 16, paragraphs 705-711.

    As used by tax authorities, definitions of the terms foreign and income may differ significantly from those used in the BOP. The compiler should take care, in using tax data directly in BOP compilation, that any such differences are accounted for.

    Many of the education and health services provided to or by nonresidents are provided to persons traveling outside of their home countries. Accordingly, these services should be recorded in the travel item of the BOP.

    See, for example, the International Monetary Fund’s Report on the World Current Account Discrepancy (Washington, D.C., 1987) and the Report on the Measurement of International Capital Flows (Washington, D.C., 1992).

    Development Assistance Committee, Organisation for Economic Cooperation and Development, Report on Development Cooperation: Efforts and Policies of the Members of the Development Assistance Committee (Paris, 1962-) and the Geographical Distribution of Financial Flows to Developing Countries (Paris, 1966-).

    These data are supplied by the finance ministries of Kuwait, Saudi Arabia, and the United Arab Emirates; the Abu Dhabi Fund for Arab Economic Development; the Kuwait Fund for Arab Economic Development; the Saudi Fund for Development; and the General Board for the South and Arab Gulf.

    Bank for International Settlements, International Monetary Fund, Organisation for Economic Cooperation and Development, and the World Bank, External Debt: Definition, Statistical Coverage, and Methodology (Paris, 1988).

    These data are updated by supplements issued throughout the year.

    Data on private, non-guaranteed debt are reported in aggregate rather than on a loan-by-loan basis.

    Published quarterly by the Monetary and Economic Department of the BIS, Basic, Switzerland.

    Data on these lendings, together with technical notes, are published semiannually by the BIS in The Maturity and Sectorial Distribution of International Bank Lending. Basle, Switzerland.

    Reporting industrial countries are Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Luxembourg, the Netherlands, Norway, Spain, Sweden, Switzerland, the United Kingdom, and the United States. Offshore banking centers include the Bahamas, Bahrain, the Cayman Islands, Hong Kong, the Netherlands Antilles, Singapore, and branches of U.S. banks in Panama.

    Other classifications, such as currency of lending/borrowing and nationality of lender/borrower, are also collected. A Belgium resident bank owned by a U.S. resident would be classified as “United States” in the nationality classification.

    The IMF has access to the BIS database (described earlier) that is supplemented with reports from Australia, Chile, Korea, Lebanon, the Philippines, Portugal, Saudi Arabia, and the United Arab Emirates.

    In IFS, eight tables on international banking are provided. The first two tables provide details on external liabilities (series 7yd) and assets (series 7xd) of deposit banks; these data come from data supplied by member countries. Remaining tables show cross-border liabilities and claims classified by interbank and bank/nonbank transactions (series 8yad, 8xad, 7yrd, 7xdd, 7ydd, and 7xrd). The series 8yad, 8xad, 7xdd, and 7ydd are essentially direct series; series 7yrd and 7xrd are derived series. Cross-border series differ in total from deposit bank series. The former include some data on central bank positions; positions with the BIS; positions with nonreporting and nonmember countries; and, in some instances, data (reported by a member of the group of 33) that may differ from data reported in the deposit bank series. The deposit bank series, on the other hand, includes positions of banks with nonbanks in countries other than the group of 33 and positions between banks that are not among those in the group of 33. A description of these statistics may be found in Joslin Landell-Mills, The Fund’s International Banking Statistics (Washington, D.C.: IMF, 1986). More information on data availability for individual countries can be obtained by writing to the IMF.

    Results are published annually by the OECD in Financing and External Debt of Developing Countries (Paris, 1981-).

    Data from the CRS are also published jointly, on a semi-annual basis, by the BIS and the OECD in Statistics on External Indebtedness (Basle, Switzerland, 1984-).

    In many countries, there is a strong relationship between movements in imports of particular commodities and movements in national income; projections of imports are often largely based on this relationship.

    In broad terms, a stable unit of account is one that does not significantly depreciate or appreciate against other currencies.

    This assumption only affects financial account entries. Entries relating to the current account would remain unchanged if the assumption were not appropriate. In these cases, financial account entries should be modified as appropriate. The reader is referred to chapter 16 for a further discussion of the treatment of financial account transactions.

    In the case of the operator being a resident of country A, those transactions not involving the operator’s bank account in country A are assumed to involve parent enterprise bank accounts in other countries. These transactions are classified as direct investment because the parent is providing the necessary funds on behalf of its branch.

    However, it may be necessary to obtain information from mobile equipment operators in order to make timing adjustments to data on goods; this issue is discussed in chapter 11.

    For a full description of the coverage of goods, see Chapter 10 of the BPM.

    As used here, change of ownership. includes goods under financial lease, goods transferred between affiliated enterprises, and certain goods for processing.

    One reason that standard component provide such a limited breakdown of goods is that appropriate subclassifications of these transactions vary significantly from country to country.

    See paragraph 46 of Chapter 2 for background details on these classifications.

    In the SNA accounting entity M = C + I + G + X — Y, M is imports of goods and services; Y is gross domestic product; C is consumption; G is government expenditure; I is investment; and X is exports of goods and services. Imports of goods are derived after identified imports of services are deducted from M.

    To prepare preliminary ITS, some validation procedures (such as comparing day-to-day consistency of reporting, querying returns that look unusually large, checking on non-response, etc.) should be undertaken. However, more detailed checking of value/quantity relationships, which usually reveals errors in the reporting of physical quantities rather than values, is sometimes skipped at the preliminary estimation stage.

    Customs officials may he able to estimate undercoverage by examining their procedures. For example, if the baggage of 1 in 20 persons (selected at random) arriving in a country is examined, and y value of goods is discovered undeclared by these persons, an estimate of undercoverage would be 20 times the value of y. It would be more difficult (but still possible) to estimate undercoverage if selection procedures were based upon non-random factors.

    For a full discussion on coverage of transportation services in the BOP, see Chapter 11 of the BPM.

    Passenger services provided within a country are treated as travel services when provided by operators who are residents of that country and as passenger services (part of transportation services) when provided by nonresident operators.

    Loading and unloading expenses should include any demurrage expenses.

    See Chapter 11 of this Guide for a discussion of classification adjustments to reported trade in goods.

    Data on insurance premiums on international freight should be used in compilation of the insurance services item, which is discussed in paragraphs 551 through 561 of this chapter.

    Freight rates differ among commodities, particularly when freight is expressed as a percentage of the value of goods. For example, freight rates on bulk mineral commodities tend to he higher (in terms of the percentage of the value of underlying goods) than freight rates on manufactured goods such as electronic equipment. Therefore, even if freight rates remain unchanged, a country’s average freight rate can alter because of a change in the composition of imports.

    Alternatively, these amounts could be calculated by: estimating total freight on imports (see table 12.2); deducting import freight fees earned by residents (an item that could be derived from ES); and deducting importer payments to nonresident transport operators (an item that could be obtained from an ITRS).

    Nonresident transport operators often maintain domestic currency accounts with resident banks. Payments for services provided to residents may be paid into these accounts, and payments for services acquired from residents may he made from these accounts. Any withdrawals (remittances) from these accounts by nonresident operators therefore reflect net, not gross, BOP transactions. Consequently, it is necessary to measure the flows through these accounts in order to derive correct BOP entries.

    Vessels operated by residents could be identified from information provided by resident operators; all other vessels could be assumed to be operated by nonresidents.

    When migration statistics are used, allowance should be made for the possibility of a more complete accounting for arrivals than for departures.

    For a complete description of BOP travel items, see Chapter 12 of the BPM.

    More strictly, in the case of business travel, the travel service is considered to be provided to the employer of the traveler rather than to the traveler.

    For travel credits, the domestic rate of inflation would be the most appropriate to use; for travel debits, a weighted average of partner country inflation rates would be preferable. Movements in exchange rates are likely to have a more significant impact on travel debits than on travel credits when expenditure is estimated in the national currency.

    Partner country economic activity will influence travel credits, while domestic economic activity will have an impact on travel debits. Movements in exchange rates will also have an impact on numbers of travelers.

    A full description of each of these items is provided in Chapter 13 of the BPM

    Net income from investments would be shown as income payable, via insurance enterprises, to policyholders; for life insurance, changes in actuarial reserves for with—profit insurance would be shown as transactions in policyholder claims on insurance enterprises and recorded as other investment—other assets/liabilities in the financial account. Changes, which arise from net income from investments, in actuarial reserves would also be recorded as investment income payable by an insurance enterprise to a policyholder.

    Differences between cash data and accrual data would be included as transactions in other investment—other assets/Liabilities of the financial account.

    In addition, gross premiums and claims are useful BOP memorandum items.

    When a nonresident dealer transacts with a resident other than a dealer, a service debit entry should be recorded. When a resident dealer transacts with a nonresident other than a dealer, a service credit entry should be recorded. When a foreign exchange transaction occurs between a resident dealer and a nonresident dealer, one dealer will act as the price-maker (producer) and the other will be a price-taker (consumer). In countries where such transactions are significant, the compiler should take care to identify separately those transactions in which the resident dealer is the price-maker (service credits are recorded) from those in which the dealer is the price-taker (service debits are recorded).

    Wages and salaries paid by embassies, etc. to local staff—that is. residents of the host economy—should be recorded as compensation of employees in the BOP

    Persons cannot be residents of international institutions. All staff of international institutions staying in host countries for 12 months or more should be regarded as residents of those host countries. Persons staying in host economies for less than 12 months should be regarded as residents of the countries in which they maintain permanent households—typically their countries of origin.

    For best results, separate percentages should be calculated for nonresidents working in the compiling economy and for residents working abroad.

    Such surveys arc discussed in chapter 4. paragraphs 169-173.

    For information on these surveys, see chapter 7. paragraphs 315-324.

    These surveys are described in chapter 9. paragraphs 380-382

    If migration statistics arc used in data models, estimates should (when possible) be used for numbers of persons traveling to other countries to work for employers located there. (This is not the same as the category of business travel, which includes travel by persons working for employers in their home countries.) However, such estimates may not be available, (That is, the compiler may be unable to distinguish residents traveling abroad to work for nonresident enterprises from other residents traveling abroad and nonresidents traveling to work for resident enterprises from other nonresident visitors.) Estimates of total numbers of travelers could then be used-if this approach is also reflected in estimation of the per capita compensation element of the data model.

    For a full description of the components of investment income, see chapter 14 of the BPM.

    Related financial transactions reported in an ITRS also may have to be adjusted for premiums and discounts.

    Levels of financial assets and liabilities may either be measured directly or derived by using the perpetual inventory method. For an explanation of this method, sec chapter 16, paragraphs 740–743.

    For an example of the use of the yield approach to derive estimates of investment income, see chapter 16, paragraph 776.

    The weights may be determined by using the proportion of portfolio equity assets located in each country.

    These rates are included in world and area tables provided at the beginning of issues of IFS.

    Changes in interest rates will not hilly impact other investment income in the periods in which the changes occur because many financial assets and liabilities will have fixed rates of interest. The computer should analyze the composition of other investment assets and liabilities to determine the fixed-interest component. This information should be used to moderate the impact of changes in interest rates on income estimates. Changes in interest rates should change the market value of fixed-interest securities (portfolio investment) so that actual yields equal the prevailing rate of interest. If these changes in market values arc captured in underlying stock estimates (as discussed in chapter 16), there would be no reason for the compiler to moderate the impact of any changes in interest rates when he or she extrapolates portfolio investment income by using the income yield approach. Information on changes in profitability could be available from profit surveys used to compile national accounts or from lax records. Information on changes in distribution policies could be obtained from stock exchanges. For example, changes in the ratio of average dividend yields to the inverse of the average price/carnings (p/c) ratio could be used as an indicator of changes in distribution policies.

    See chapter 16 for further details.

    For direct investment abroad, direct investors in the compiling economy should have access to the accounts of their direct investment enterprises and should be approached for the necessary BOP information.

    If the consolidated accounts of a group of enterprises are used in the calculation of reinvested earnings, only the reinvested earnings from any enterprises that are outside the group and in which the group has a significant shareholding (that is, 10 percent or more) should be included in this step.

    The exclusion is particularly important in high inflation countries.

    The two BOP entries required in the case of reinvested capital gains are made to the same financial account item and the result is therefore net. Consequently, it is not. in practice, necessary to measure these unless additional information beyond that required by the standard components is being provided in the BOP.

    For a description of these components, see chapter 12, paragraphs 551–552.

    Property income (in this case) is equal to investment income plus rent.

    The fourth edition of the BPM advocated recording interest on a due-for payment basis.

    For a discussion on compiling estimates of stocks of securities at market values, see chapter 16, paragraphs 732–743.

    The first-mentioned case—that is, coupon payments are greater than accrued interest—can only occur for securities issued or trading at a premium. In these cases, the coupon interest payments contain an element representing “repayment” of the premium—hence the recording of a decrease in investment when the coupon payment is made. The opposite case—that is, coupon payments are less than accrued interest—can only occur for securities issued or trading at a discount. In these cases, coupon interest payments represent only a part of the creditors return; the other pan is the discount itself, which is payable at redemption- Accordingly, an increase in investment reflecting accrual of the discount is reflected in the BOP.

    For a full discussion of BOP recording issues associated with these types of bonds, see chapter 16, paragraphs 760–762.

    This information could, for example, be obtained from a sample of nontradable debt agreements between residents and nonresidents.

    A separate reference rate should be used for each currency. For some currencies, the (interbank) reference rate may vary from market to market. For example, the interbank rate for U.S. dollars in Europe (Eurodollars) may differ from the U.S. dollar interbank rate in the United States. Nevertheless, the rate applicable to the country that issues the currency should suffice for most compilation purposes. For example, for assets and liabilities denominated in U.S. dollars, the reference rate should be that used in the United States.

    FISLM are not applicable to direct investment because any financial intermediation between enterprises in a direct investment relationship should be treated as portfolio or other investment.

    For a detailed discussion on the nature of current transfers, see chapter 15 of the BPM.

    The term foreign workers refers to persons who migrate to work in the compiling economy for 12 months or more.

    Nationals of the compiling country who work in another country for 12 months or more are nationals working abroad.

    For a discussion of the terms foreign workers and nationals working abroad and possible methods of measuring their numbers, see paragraphs 639–640 and related notes.

    Any difference between this value and the price charged by the recipient government to resident consumers should be regarded as a subsidy. As such subsidies are pertinent to transactions between residents of the same country, these subsidies are outside the scope of the BOP.

    For a detailed discussion on the nature of capital transfers, see chapter 17 of the BPM.

    Surveys of embassies and international institutions are described in paragraphs 380–383 of chapter 9, and DAC data are described in paragraphs 388–390.

    Because of data collection problems, many countries limit measurement of migrants’ transfers to cash and goods actually transferred This practice is not consistent with BOP requirements. Countries are encouraged to make, even if only on an infrequent basis, more comprehensive measurements and to assess the significance of differences between limited and comprehensive measures.

    For a full description of the BOP financial account, see chapter 16 of the BPM. For a full description of the IIP, see chapter 23 of the BPM.

    Elsewhere, a 12-month rule is used somewhat differently. For example, for the purpose of distinguishing between travelers and migrants, a migrant is a person who changes residence for 12 months or more.

    Reinvested earnings are direct investors’ shares (in proportion to equity held) of the undistributed operating earnings of the direct investment enterprise. Reinvested earnings are recorded both as income and as an offsetting financial transaction. For further details on the compilation of reinvested earnings, see chapter 13, paragraphs 602-613.

    For a more complete description of these sources, refer to chapter 3 (ITRS), chapter 4 (ES). and chapter 8, paragraph 367 (approvals of foreign investment).

    Often the perceived value (or stock exchange value) of an enterprise is different from the net worth of the enterprise. This difference arises because the assets and liabilities of the enterprise are not valued in conformity with current value accounting methods or because various intangible assets of the enterprise are taken into consideration by the market. According to the SNA, the difference between net worth calculated on the basis of current values and “perceived net worth” is the independent net worth of an enterprise. An accounting entry to record this difference is required to create symmetry in the national accounts.

    The ratios were established on the basis of an analyses of companies listed on stock exchanges.

    Transportation services are provided by the operator, regardless of whether or not the operator is the owner. This discussion of brass plate enterprises relates only to transactions involving the owner.

    Depreciation is not included in this calculation as no cash is involved.

    There are a number of ways to identify these intermediaries. In most countries, nonresidents purchasing Land are required to register with a central agency; this agency may have the names of law firms representing the nonresidents. Alternatively, an exploratory survey could be sent to all large law firms in the country, or the country’s legal association could provide information on firms most likely to be involved.

    For a full description of portfolio investment, see chapter 19 of the BPM.

    For an example, see chapter 13, paragraphs 598-599.

    Book value is often a suitable proxy for the market value of certain bonds, notes, and money market instruments. However, market values should be obtained for equity securities, debt securities heavily discounted by the market, and financial derivatives.

    Transactions in financial fees should be recorded in the current account as financial services.

    The survey of intermediaries should also include enterprises that maintain registers for securities issued by the enterprises themselves.

    For a discussion of this process, see paragraphs 778-783 of this chapter.

    A company undertaking a bonus issue gives x (number of new or additional shares) for every y (number of previously held shares). The bonus factor is equal to x divided by y.

    This technique obviously requires detailed information on transactions.

    Warrants are options written by enterprises on their own shares. The BOP treatment of warrants is the same as that for other types of options.

    It is assumed that the resident of country A owned the shares in the enterprise of country X prior to exercise of the option contract. If this was not the case, the resident of country A would have to purchase these shares (at the market value) in order to deliver them to the resident of country B. The purchase could result in additional transactions in the BOP of country A.

    Derivatives (such as interest rate swaps and forward rate agreements) associated with interest rates arc an exception. Transactions in these instruments should be recorded in the investment income component of the current account.

    For a discussion of the recording of interest income on a full accrual basis, see chapter 13, paragraphs 614-624.

    For a full description of other investment, see chapter 20 of the BPM.

    For most financial instruments recorded under other investment, book value will often provide a good proxy for market value. However, if this is not the case, appropriate adjustments should be made.

    The difference between export deliveries and payments for exports could be assumed to represent transactions in trade credit assets, and differences in comparable data for imports could be assumed to represent transactions in trade credit liabilities. However, these assumptions are based on underlying assumptions that trade credit is always extended by exporters to importers and that there are never any prepayments.

    Information of this nature can be found in the IFS table headed Cross Border Bank Deposits of Nonbanks by Residence of Creditor.

    The compilers have assumed that there were no price or other changes in the value of claims.

    BIS international banking statistics provide information on transactions, as well as on stocks, that is based on currency data from reporting countries and on assumptions made by the BIS. The compiler may prefer using BIS information on transactions rather than estimating, via the methodology described, transactions from IMF data. The compiler should be aware that coverage provided by BIS banking data is somewhat limited in comparison with that provided by data from the IMF.

    In many cases, offsetting transactions may not be identified as neatly as those in the example. In such situations, the compiler may only adjust for the undercoverage in transactions relating to accounts with nonresident banks.

    For a discussion of methods that could be used to estimate the impact of valuation changes, see paragraphs 732-739 of this chapter.

    For a complete description of the nature of reserve assets, see chapter 21 of the BPM.

    For a full description of the nature of LCFAR and exceptional financing transactions, see chapter 22 of the BPM.

    An interesting question arises as to how the value of debt with a book value of 100 and a traded value of 50 should be recorded in an IIP statement. If the compiler is adopting market value, 50 should be the recorded value because that is the value for which the issuer could redeem the debt if financing were available to do so. In these situations, market value should be reported, and book value should be recorded as a memorandum item.

    Chapter 24 of the BPM contains further information on regional BOP statements.

    This classification principle is consistent with classification of the IIP by partner country.

    Standard Country or Area Codes for Statistical Use, “United Nations Statistical Papers, Series M, No. 49, Rev. 2 (New York, 1982). This document is somewhat outdated, and the reader should refer to more recent publications, such as the Untied Nations Statistical Yearbook (New York, 1954). for more up-to-date nomenclature.

    International Trade Statistics; Concepts and Definitions, “United Nations Statistical Papers, Series M, No. 52, Rev. 1 (New York, 1982).

    Ibid., 38.

    Ibid., 42.

    Ibid., 38.

    For the definition of a subsidiary, see chapter 16. paragraph 685.

    Non-responding enterprises are generally treated the same as unselected enterprises and, in effect, are allocated the average activity of related, responding enterprises.

    For example, the compiler may compare stocks of financial assets and liabilities reported by enterprises with published balance sheets of enterprises.

    Most collections are covered by appropriate legislation. However, there may be some instances in which this is not the case. For example, a compiler may decide that the cost of obtaining legislative authority would exceed the benefits. Such cases are Likely to be the exception rather than the rule.

    Corresponding ITRS forms 3P and 3R should be completed by bank customers conducting large transactions.

    Classifying data by sector of the nonresident party may also be desirable. For example, the closing position column could be subdivided into sectors.

    Type of instrument refers to equities, long-term bonds and notes, short-term money market instruments, and financial derivatives.

    The collection, from intermediaries, of data on securities issued abroad could be restricted to those associated with own-account and household transactions because resident enterprises investing abroad may be able to report relevant details on form 12. This choice is left to the compiler, who should ensure that clear reporting rules are provided in all cases.

    Consideration should be given to the number of records, the number of record types, the number of characters per record, meta data requirements, the frequency of certain tasks, and the available time for conducting certain tasks.

    For a discussion on assessing the needs of users, sec chapter 18, paragraph 840.

    Items or transactions excluded from “above-the-line” entries are shown “below the line” as financing the balance of payments outcome.

    Debt liabilities consist of all liabilities other than equity (including reinvested earnings). They include liabilities relating to “other” direct investment, bonds and notes, money market instruments, financial derivatives, trade credits, use of Fund credit and loans from the Fund, other loans, currency and deposits, and the “other liabilities” component of other investment less net equity of households in life insurance reserves and in pension funds.

    In most cases, it is the national accounts compiler, rather than the BOP compiler, who is responsible for calculating constant price estimates for BOP transactions. However, this does not preclude the information from being shown in BOP publications where it is likely to be of immediate interest to users.

    At the time of the survey, the fourth edition of the BPM was used by most countries as the basis for compiling BOP statistics. However, wherever possible, the terminology of the fifth edition of the. BPM has been used in this appendix in order to maintain consistency with the rest of the Guide.

    Compilers in 6 percent of the countries that use an ITRS did not answer the question on whether their systems are open, closed, or partial.

    Education and health services provided to persons traveling in countries other than those of which they are residents should be included in travel items in the BOP.

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