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Language:: English

Keywords:: BOOK; BOP compiler; BOP.; goods; enterprise; BOP transaction

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Abstract

A companion document to the fifth edition of the Balance of Payments Manual, the Balance of Payments Compilation Guide shows how the conceptual framework described in the Manual may be implemented in practice. The primary purpose of the Guide is to provide practical guidance for using sources and methods to compile statistics on the balance of payments and the international investment position. the Guide is designed to assist balance of payments compilers and statisticians in understanding the relative strengths and weaknesses of various approaches. The material reflects the emergence of new data sources and adaptations in the application of statistical methodologies to changing circumstances. Discussed in the Guide are all of the tasks that a BOP compiler normally performs. Appendices contain a set of model BOP questionnaires and a set of model BOP publication tables. Relationships between the balance of payments statistics and relevant aspects of national accounts are covered as well.

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

Table 1.

Countries Reporting in the BOP Compiler Survey

Country Group	Number	Countries
Industrial countries	15	Australia, Belgium, Canada, Denmark, Finland, Germany, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Sweden, the U.K., and the U.S.A.
Africa	14	Benin, Burundi, Congo, Gabon, Liberia, Mali, Mauritius, Nigeria, Senegal, Sierra Leone, South Africa, Sudan, Swaziland, and Tunisia.
Asia n.i.e.	13	Bangladesh, China, Hong Kong, Indonesia, Korea, Malaysia, Pakistan, Philippines, Singapore, Solomon Islands, Sri Lanka, Thailand, and Tonga.
Western Hemisphere	11	Bahamas, Costa Rica, Dominica, Ecuador, El Salvador, Guatemala, Haiti, Jamaica, Peru, Trinidad and Tobago, and Venezuela.
Other countries	5	Bahrain, Egypt, Malta, Saudi Arabia, and Turkey.

Table 1.

Countries Reporting in the BOP Compiler Survey

Country Group	Number	Countries
Industrial countries	15	Australia, Belgium, Canada, Denmark, Finland, Germany, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Sweden, the U.K., and the U.S.A.
Africa	14	Benin, Burundi, Congo, Gabon, Liberia, Mali, Mauritius, Nigeria, Senegal, Sierra Leone, South Africa, Sudan, Swaziland, and Tunisia.
Asia n.i.e.	13	Bangladesh, China, Hong Kong, Indonesia, Korea, Malaysia, Pakistan, Philippines, Singapore, Solomon Islands, Sri Lanka, Thailand, and Tonga.
Western Hemisphere	11	Bahamas, Costa Rica, Dominica, Ecuador, El Salvador, Guatemala, Haiti, Jamaica, Peru, Trinidad and Tobago, and Venezuela.
Other countries	5	Bahrain, 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

Table 2.

Types of Agencies Reporting in Survey

Types of Agency	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Central Bank	8	11	7	11	4	41
Statistical agency	6	—	6	—	1	13
Other	1	3	—	—	—	4
Total	15	14	13	11	5	58

Table 2.

Types of Agencies Reporting in Survey

Types of Agency	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Central Bank	8	11	7	11	4	41
Statistical agency	6	—	6	—	1	13
Other	1	3	—	—	—	4
Total	15	14	13	11	5	58

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

Table 3.

Classification of Data Sources

Source	Description
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 households	These 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 organizations	These sources cover data available either from foreign government agencies or international organizations.

Table 3.

Classification of Data Sources

Source	Description
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 households	These 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 organizations	These 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

Table 4.

Compiler Survey—Incidence of Sources Used

Type of Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITS	14	12	12	9	4	51
ITRS	12	11	11	10	5	49
ES	15	12	11	9	4	51
Official sources n.i.e.	15	14	13	11	5	58
Household collections	9	6	8	9	4	36
Partner country sources	7	11	6	9	3	36

Table 4.

Compiler Survey—Incidence of Sources Used

Type of Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITS	14	12	12	9	4	51
ITRS	12	11	11	10	5	49
ES	15	12	11	9	4	51
Official sources n.i.e.	15	14	13	11	5	58
Household collections	9	6	8	9	4	36
Partner country sources	7	11	6	9	3	36

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

Note: Compilers in only 36 of the countries responding to the survey compile either full or partial IIP statistics.

Table 5.

Compiler Survey—Sources Used to Compile Data Items

Source	Goods	Services	Income	Transfers	Financial Account	IIP Statistics
ITS	51	25	—	10	—	—
ITRS	15	46	38	44	36	18
ES	23	42	33	12	38	28
Official sources n.i.e.	12	40	41	47	47	35
Household collections	2	36	2	7	—	—
Partner country, etc, sources	6	20	5	21	4	2

Note: Compilers in only 36 of the countries responding to the survey compile either full or partial IIP statistics.

Table 5.

Compiler Survey—Sources Used to Compile Data Items

Source	Goods	Services	Income	Transfers	Financial Account	IIP Statistics
ITS	51	25	—	10	—	—
ITRS	15	46	38	44	36	18
ES	23	42	33	12	38	28
Official sources n.i.e.	12	40	41	47	47	35
Household collections	2	36	2	7	—	—
Partner country, etc, sources	6	20	5	21	4	2

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

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

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

Table 8.

Compiler Survey—Nature of International Transactions Reporting Systems

	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Coverage of Currencies
Foreign currency only	1	6	9	7	4	27
Both domestic and foreign currency	11	5	2	3	1	22
Type of System
Closed	6	2	3	2	1	14
Open	4	6	6	5	3	24
Partial	2	1	2	3	—	8
Not stated	—	2	—	—	1	3

Table 8.

Compiler Survey—Nature of International Transactions Reporting Systems

	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Coverage of Currencies
Foreign currency only	1	6	9	7	4	27
Both domestic and foreign currency	11	5	2	3	1	22
Type of System
Closed	6	2	3	2	1	14
Open	4	6	6	5	3	24
Partial	2	1	2	3	—	8
Not stated	—	2	—	—	1	3

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

Table 9.

Compiler Survey—Use of Enterprise Surveys

Type of Collection	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Goods	4	8	4	4	—	20
Transportation	10	11	9	8	1	39
Travel	4	7	5	4	1	21
Services n.i.e.	8	8	4	7	1	28
Compensation of employees	3	7	3	1	1	15
Private aid organizations	4	5	1	5	—	15
External assets and liabilities	11	9	6	7	1	34
Transactions associated with financial intermediaries	10	3	2	2	—	17
Banks	12	11	6	8	2	39

Table 9.

Compiler Survey—Use of Enterprise Surveys

Type of Collection	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Goods	4	8	4	4	—	20
Transportation	10	11	9	8	1	39
Travel	4	7	5	4	1	21
Services n.i.e.	8	8	4	7	1	28
Compensation of employees	3	7	3	1	1	15
Private aid organizations	4	5	1	5	—	15
External assets and liabilities	11	9	6	7	1	34
Transactions associated with financial intermediaries	10	3	2	2	—	17
Banks	12	11	6	8	2	39

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.

Table 10.

Compiler Survey—Use of Official Sources n.i.e.

Type of Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
*Sources Measuring Official Sector Activities*
Government accounts	9	10	9	7	4	39
Debt management offices	6	13	10	9	3	41
Central bank information on reserves	13	14	11	11	4	53
*Administrative By-product Collections*
Approvals of foreign investment	3	3	2	4	1	13
Applications to obtain foreign exchange	—	2	3	3	1	9
Applications to export	—	1	—	—	—	1
Immigration records	2	1	2	—	2	7
Taxation data	4	2	1	2	—	9
Foreign aid accounts	8	12	9	6	3	38
Education and health data	2	4	2	4	—	12

Table 10.

Compiler Survey—Use of Official Sources n.i.e.

Type of Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
*Sources Measuring Official Sector Activities*
Government accounts	9	10	9	7	4	39
Debt management offices	6	13	10	9	3	41
Central bank information on reserves	13	14	11	11	4	53
*Administrative By-product Collections*
Approvals of foreign investment	3	3	2	4	1	13
Applications to obtain foreign exchange	—	2	3	3	1	9
Applications to export	—	1	—	—	—	1
Immigration records	2	1	2	—	2	7
Taxation data	4	2	1	2	—	9
Foreign aid accounts	8	12	9	6	3	38
Education and health data	2	4	2	4	—	12

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

Table 11.

Compiler Survey—Use of Household Collections

Type of Collection	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Migration statistics	4	4	5	8	4	25
Surveys of travelers	8	5	7	6	3	29
Other household surveys	4	—	1	2	1	8

Table 11.

Compiler Survey—Use of Household Collections

Type of Collection	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Migration statistics	4	4	5	8	4	25
Surveys of travelers	8	5	7	6	3	29
Other household surveys	4	—	1	2	1	8

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

Table 12.

Compiler Survey—Use of Information from Partner Countries and International Institutions

Type of Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Surveys of foreign embassies	3	5	1	3	—	12
Accounts of foreign aid donors	—	9	5	7	2	23
Other partner country sources	6	7	1	2	1	17
International institutions	3	2	—	2	—	7

Table 12.

Compiler Survey—Use of Information from Partner Countries and International Institutions

Type of Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
Surveys of foreign embassies	3	5	1	3	—	12
Accounts of foreign aid donors	—	9	5	7	2	23
Other partner country sources	6	7	1	2	1	17
International institutions	3	2	—	2	—	7

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

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)
Source	Monthly	Quarterly	Annual	Not Reported	Monthly Sources	Quarterly Sources	Annual Sources
*ITS and International Transactions Reporting Systems*
ITS	41	4	3	3	7	16	102
International transactions reporting systems	44	2	1	2	7	5	15
*Enterprise Surveys*
Goods	4	6	7	3	5	7	36
Transportation	3	11	14	10	6	14	31
Travel	3	2	12	2	4	10	31
Services n.i.e.	3	5	14	6	5	7	37
Compensation of employees	1	4	8	3	3	7	43
Private aid organizations	—	2	9	4	—	3	24
External assets and liabilities	3	8	20	3	4	8	37
Financial intermediaries	6	4	7	—	5	6	37
Banks	24	5	7	3	5	9	22
*Selected Official Sources*
Government accounts	18	6	12	3	4	13	22
Debt management records	17	10	7	7	7	5	22
Central bank reserves information	41	1	3	8	3	9	8
Approvals for foreign investment	8	2	3	—	7	9	10
Applications for foreign exchange	8	—	—	1	4	—	—
Foreign aid accounts	9	6	11	12	10	10	34
Education statistics	1	1	8	2	1	4	13
*Selected Other Sources*
Migration statistics	16	2	3	4	9	5	40
Surveys of travelers	6	9	6	8	6	12	31
Accounts of donors of foreign aid	6	2	9	6	6	6	26

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)
Source	Monthly	Quarterly	Annual	Not Reported	Monthly Sources	Quarterly Sources	Annual Sources
*ITS and International Transactions Reporting Systems*
ITS	41	4	3	3	7	16	102
International transactions reporting systems	44	2	1	2	7	5	15
*Enterprise Surveys*
Goods	4	6	7	3	5	7	36
Transportation	3	11	14	10	6	14	31
Travel	3	2	12	2	4	10	31
Services n.i.e.	3	5	14	6	5	7	37
Compensation of employees	1	4	8	3	3	7	43
Private aid organizations	—	2	9	4	—	3	24
External assets and liabilities	3	8	20	3	4	8	37
Financial intermediaries	6	4	7	—	5	6	37
Banks	24	5	7	3	5	9	22
*Selected Official Sources*
Government accounts	18	6	12	3	4	13	22
Debt management records	17	10	7	7	7	5	22
Central bank reserves information	41	1	3	8	3	9	8
Approvals for foreign investment	8	2	3	—	7	9	10
Applications for foreign exchange	8	—	—	1	4	—	—
Foreign aid accounts	9	6	11	12	10	10	34
Education statistics	1	1	8	2	1	4	13
*Selected Other Sources*
Migration statistics	16	2	3	4	9	5	40
Surveys of travelers	6	9	6	8	6	12	31
Accounts of donors of foreign aid	6	2	9	6	6	6	26

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

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)
Source	Number of Countries Eliminated	Monthly	Quarterly	Annual	Monthly Sources	Quarterly Sources	Annual Sources
*ITS and International Transactions Reporting Systems*
ITS	8	36	3	1	6	13	16
International transactions reporting systems	7	37	2	1	5	5	15
*Enterprise Surveys*
Goods	1	4	6	6	5	7	25
Transportation	5	3	10	10	6	12	22
Travel	3	3	2	9	4	10	19
Services n.i.e.	5	3	5	9	5	7	20
Compensation of employees	3	1	4	5	3	7	25
Private aid organizations	1	—	2	8	—	3	21
External assets and liabilities	7	3	7	14	4	7	27
Financial intermediaries	—	6	4	7	5	6	37
Banks	6	22	4	4	5	5	12
*Selected Official Sources*
Government accounts	6	14	6	10	3	13	15
Debt management records	4	14	10	6	6	5	17
Central bank reserves information	5	37	1	2	2	9	5
Approvals for foreign investment	1	7	2	3	6	9	10
Applications for foreign exchange	—	8	—	—	4	—	—
Foreign aid accounts	3	8	6	9	4	10	22
Education statistics	—	1	1	8	1	4	13
*Selected Other Sources*
Migration statistics	3	15	2	1	7	5	18
Surveys of travelers	2	6	9	4	6	12	21
Accounts of donors of foreign aid	1	6	2	8	6	6	20

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)
Source	Number of Countries Eliminated	Monthly	Quarterly	Annual	Monthly Sources	Quarterly Sources	Annual Sources
*ITS and International Transactions Reporting Systems*
ITS	8	36	3	1	6	13	16
International transactions reporting systems	7	37	2	1	5	5	15
*Enterprise Surveys*
Goods	1	4	6	6	5	7	25
Transportation	5	3	10	10	6	12	22
Travel	3	3	2	9	4	10	19
Services n.i.e.	5	3	5	9	5	7	20
Compensation of employees	3	1	4	5	3	7	25
Private aid organizations	1	—	2	8	—	3	21
External assets and liabilities	7	3	7	14	4	7	27
Financial intermediaries	—	6	4	7	5	6	37
Banks	6	22	4	4	5	5	12
*Selected Official Sources*
Government accounts	6	14	6	10	3	13	15
Debt management records	4	14	10	6	6	5	17
Central bank reserves information	5	37	1	2	2	9	5
Approvals for foreign investment	1	7	2	3	6	9	10
Applications for foreign exchange	—	8	—	—	4	—	—
Foreign aid accounts	3	8	6	9	4	10	22
Education statistics	—	1	1	8	1	4	13
*Selected Other Sources*
Migration statistics	3	15	2	1	7	5	18
Surveys of travelers	2	6	9	4	6	12	21
Accounts of donors of foreign aid	1	6	2	8	6	6	20

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

Table 15.

Compiler Survey—Compiler Perceptions of Data Source Quality

Source	Number of Countries Reporting	Average Rating
ITS	51	1.5
*International Transactions Reporting Systems*
Closed systems	15	2.1
Open systems	24	2.3
Partial systems	10	2.5
*Enterprise Surveys*
Goods	21	2.0
Transportation	36	2.2
Travel	16	2.3
Services n.i.e.	27	2.5
Compensation of employees	15	2.9
Private aid organizations	14	1.9
External assets and liabilities	32	2.3
Financial intermediaries	17	2.0
Banks	39	1.3
*Official Sources*
Government accounts	39	1.3
Debt management office	30	1.5
Central bank reserves information	50	1.2
Approvals of foreign investment	13	2.1
Applications to obtain foreign exchange	11	2.1
Immigration records	7	1.9
Tax records	8	2.9
Foreign aid accounts (donor accounts)	16	1.6
Foreign aid accounts (recipient accounts)	25	2.0
Education statistics	12	2.3
*Household Collections*
Migration statistics	24	2.1
Surveys of travelers	28	2.5
*Partner Country Sources*
Surveys of foreign embassies	8	2.8
Accounts of donors of foreign aid	21	1.8
Other partner country sources	11	2.9

Table 15.

Compiler Survey—Compiler Perceptions of Data Source Quality

Source	Number of Countries Reporting	Average Rating
ITS	51	1.5
*International Transactions Reporting Systems*
Closed systems	15	2.1
Open systems	24	2.3
Partial systems	10	2.5
*Enterprise Surveys*
Goods	21	2.0
Transportation	36	2.2
Travel	16	2.3
Services n.i.e.	27	2.5
Compensation of employees	15	2.9
Private aid organizations	14	1.9
External assets and liabilities	32	2.3
Financial intermediaries	17	2.0
Banks	39	1.3
*Official Sources*
Government accounts	39	1.3
Debt management office	30	1.5
Central bank reserves information	50	1.2
Approvals of foreign investment	13	2.1
Applications to obtain foreign exchange	11	2.1
Immigration records	7	1.9
Tax records	8	2.9
Foreign aid accounts (donor accounts)	16	1.6
Foreign aid accounts (recipient accounts)	25	2.0
Education statistics	12	2.3
*Household Collections*
Migration statistics	24	2.1
Surveys of travelers	28	2.5
*Partner Country Sources*
Surveys of foreign embassies	8	2.8
Accounts of donors of foreign aid	21	1.8
Other partner country sources	11	2.9

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

Table 16.

Compiler Survey—Compiler Perceptions, by Region, of Data Source Quality

	Number of Sources Reported					Average Rating
	Industrial Countries	Africa	Asia n.i.e.	Other Countries	Total	Industrial Countries	Africa	Asia n.i.e.	Other Countries	All Countries
ITS	14	12	12	13	51	1.1	1.9	1.5	1.6	1.5
ITRS	12	11	11	15	49	2.3	1.9	2.1	2.6	2.3
Official sources n.i.e.	46	56	48	63	213	1.6	1.7	1.5	1.7	1.6
ES	60	66	38	54	218	1.9	2.3	2.0	2.3	2.0
Household collections	10	8	12	22	52	2.4	2.5	2.3	2.2	2.3
Partner country sources	6	22	5	4	37	3.9	2.0	2.0	2.0	2.3

Table 16.

Compiler Survey—Compiler Perceptions, by Region, of Data Source Quality

	Number of Sources Reported					Average Rating
	Industrial Countries	Africa	Asia n.i.e.	Other Countries	Total	Industrial Countries	Africa	Asia n.i.e.	Other Countries	All Countries
ITS	14	12	12	13	51	1.1	1.9	1.5	1.6	1.5
ITRS	12	11	11	15	49	2.3	1.9	2.1	2.6	2.3
Official sources n.i.e.	46	56	48	63	213	1.6	1.7	1.5	1.7	1.6
ES	60	66	38	54	218	1.9	2.3	2.0	2.3	2.0
Household collections	10	8	12	22	52	2.4	2.5	2.3	2.2	2.3
Partner country sources	6	22	5	4	37	3.9	2.0	2.0	2.0	2.3

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

Table 17.

Compiler Survey—Sources Used to Measure Goods Items

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITS only	4	4	6	6	3	23
ITS supplemented by other sources	10	6	3	2	1	22
ITRS only	—	1	1	1	—	3
ITRS supplemented by other sources	1	—	1	—	1	3
Other sources	—	3	2	2	—	7

Table 17.

Compiler Survey—Sources Used to Measure Goods Items

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITS only	4	4	6	6	3	23
ITS supplemented by other sources	10	6	3	2	1	22
ITRS only	—	1	1	1	—	3
ITRS supplemented by other sources	1	—	1	—	1	3
Other sources	—	3	2	2	—	7

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

Table 18.

Compiler Survey—Sources Used to Measure Transportation Services

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITS	11	6	3	2	2	24
ITRS	10	6	9	5	3	33
ES	11	11	8	8	2	40
Official sources n.i.e.	1	1	1	1	1	5
Household collections	2	—	—	—	—	2
Transactions not measured	—	—	—	1	1	2

Table 18.

Compiler Survey—Sources Used to Measure Transportation Services

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITS	11	6	3	2	2	24
ITRS	10	6	9	5	3	33
ES	11	11	8	8	2	40
Official sources n.i.e.	1	1	1	1	1	5
Household collections	2	—	—	—	—	2
Transactions not measured	—	—	—	1	1	2

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

Table 19.

Compiler Survey—Sources Used to Measure Travel Services

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	10	7	9	7	4	37
ES	2	4	6	—	—	12
Official sources n.i.e.	3	3	—	1	1	8
Household collections	8	5	7	9	4	33
Partner country	5	—	—	—	—	5
Transactions not measured	—	—	—	1	—	1

Table 19.

Compiler Survey—Sources Used to Measure Travel Services

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	10	7	9	7	4	37
ES	2	4	6	—	—	12
Official sources n.i.e.	3	3	—	1	1	8
Household collections	8	5	7	9	4	33
Partner country	5	—	—	—	—	5
Transactions not measured	—	—	—	1	—	1

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

Table 20.

Compiler Survey—Sources Used to Measure Education and Health Services

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	6	5	5	5	4	25
ES	1	—	1	—	—	2
Official sources n.i.e.	2	7	3	4	2	18
Household collections	1	—	1	—	1	3
Partner country data	2	—	—	1	—	3
Education services not measured	7	4	4	3	1	19
Health services not measured	6	7	5	6	1	25

Table 20.

Compiler Survey—Sources Used to Measure Education and Health Services

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	6	5	5	5	4	25
ES	1	—	1	—	—	2
Official sources n.i.e.	2	7	3	4	2	18
Household collections	1	—	1	—	1	3
Partner country data	2	—	—	1	—	3
Education services not measured	7	4	4	3	1	19
Health services not measured	6	7	5	6	1	25

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.

Table 21.

Compiler Survey—Sources Used to Measure Other Services n.i.e.

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITS	—	1	—	1	—	2
ITRS	11	8	10	8	4	41
ES	7	8	5	8	2	30
Official sources n.i.e.	8	10	9	7	3	37
Partner country data	4	2	2	2	1	11

Table 21.

Compiler Survey—Sources Used to Measure Other Services n.i.e.

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITS	—	1	—	1	—	2
ITRS	11	8	10	8	4	41
ES	7	8	5	8	2	30
Official sources n.i.e.	8	10	9	7	3	37
Partner country data	4	2	2	2	1	11

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

Table 22.

Compiler Survey—Sources Used to Measure Compensation of Employees

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	10	3	7	1	1	22
ES	4	7	3	1	1	16
Official sources n.i.e.	2	1	—	—	—	3
Household collections	1	—	—	—	—	1
Item not measured	3	5	4	10	4	26

Table 22.

Compiler Survey—Sources Used to Measure Compensation of Employees

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	10	3	7	1	1	22
ES	4	7	3	1	1	16
Official sources n.i.e.	2	1	—	—	—	3
Household collections	1	—	—	—	—	1
Item not measured	3	5	4	10	4	26

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

Table 23.

Compiler Survey—Sources Used to Measure Reinvested Earnings

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	—	2	2	—	1	5
ES	9	6	4	4	1	24
Official sources n.i.e.	1	2	2	3	—	8
Item not measured	5	5	5	4	3	22

Table 23.

Compiler Survey—Sources Used to Measure Reinvested Earnings

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	—	2	2	—	1	5
ES	9	6	4	4	1	24
Official sources n.i.e.	1	2	2	3	—	8
Item not measured	5	5	5	4	3	22

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

Table 24.

Compiler Survey—Sources Used to Measure Investment Income, Other than Reinvested Earnings

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	11	6	9	8	3	37
ES	8	8	3	8	2	29
Official sources n.i.e.	8	9	7	8	3	35
Other sources	2	—	—	1	—	3
Items not measured	—	—	1	2	—	3

Table 24.

Compiler Survey—Sources Used to Measure Investment Income, Other than Reinvested Earnings

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	11	6	9	8	3	37
ES	8	8	3	8	2	29
Official sources n.i.e.	8	9	7	8	3	35
Other sources	2	—	—	1	—	3
Items not measured	—	—	1	2	—	3

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^*

^{^*}Other than reinvested earnings

Table 25.

Compiler Survey—Sources Used to Measure Direct Investment, Financial Flows^*

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	10	4	6	3	3	26
ES	7	6	4	6	3	26
Official sources n.i.e.	2	3	4	4	3	16
Items not measured	—	3	1	2	—	6

^{^*}Other than reinvested earnings

Table 25.

Compiler Survey—Sources Used to Measure Direct Investment, Financial Flows^*

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	10	4	6	3	3	26
ES	7	6	4	6	3	26
Official sources n.i.e.	2	3	4	4	3	16
Items not measured	—	3	1	2	—	6

^{^*}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

Table 26.

Compiler Survey—Sources Used to Measure Portfolio Investment, Financial Flows

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	9	1	4	3	3	20
ES—external assets and liabilities	6	5	3	2	1	17
ES—financial intermediaries	6	5	1	—	—	12
ES—banks	5	5	3	3	2	18
Official sources n.i.e.	8	2	6	4	—	20
Items not measured or separately identified	—	8	4	4	1	17

Table 26.

Compiler Survey—Sources Used to Measure Portfolio Investment, Financial Flows

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	9	1	4	3	3	20
ES—external assets and liabilities	6	5	3	2	1	17
ES—financial intermediaries	6	5	1	—	—	12
ES—banks	5	5	3	3	2	18
Official sources n.i.e.	8	2	6	4	—	20
Items not measured or separately identified	—	8	4	4	1	17

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

Table 27.

Compiler Survey—Sources Used to Measure Other Investment, Financial Flows

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	9	3	4	4	3	23
ES—external assets and liabilities	8	5	2	4	1	20
ES—financial intermediaries	3	—	—	—	—	3
ES—banks	10	5	2	6	—	23
Official sources n.i.e.	9	6	6	5	1	27
Partner country	3	—	—	1	—	4
Items not measured or separately identified	—	5	7	4	2	18

Table 27.

Compiler Survey—Sources Used to Measure Other Investment, Financial Flows

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	9	3	4	4	3	23
ES—external assets and liabilities	8	5	2	4	1	20
ES—financial intermediaries	3	—	—	—	—	3
ES—banks	10	5	2	6	—	23
Official sources n.i.e.	9	6	6	5	1	27
Partner country	3	—	—	1	—	4
Items not measured or separately identified	—	5	7	4	2	18

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

Table 28.

Compiler Survey—Sources Used to Measure Direct Investment Stocks

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	3	2	2	2	1	10
ES	12	6	4	2	—	24
Official sources n.i.e.	1	2	2	3	1	9
Items not measured	3	6	6	5	4	24

Table 28.

Compiler Survey—Sources Used to Measure Direct Investment Stocks

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	3	2	2	2	1	10
ES	12	6	4	2	—	24
Official sources n.i.e.	1	2	2	3	1	9
Items not measured	3	6	6	5	4	24

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

Table 29.

Compiler Survey—Sources Used to Measure Portfolio Investment Stocks

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	4	1	3	2	1	11
ES—External assets and liabilities	9	3	3	—	—	15
ES—Financial intermediaries	6	1	1	—	—	8
ES—Banks	9	2	3	1	—	15
Official sources n.i.e.	9	2	6	3	—	20
Items not measured	2	10	6	7	4	29

Table 29.

Compiler Survey—Sources Used to Measure Portfolio Investment Stocks

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	4	1	3	2	1	11
ES—External assets and liabilities	9	3	3	—	—	15
ES—Financial intermediaries	6	1	1	—	—	8
ES—Banks	9	2	3	1	—	15
Official sources n.i.e.	9	2	6	3	—	20
Items not measured	2	10	6	7	4	29

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

Table 30.

Compiler Survey—Sources Used to Measure Stocks of Other Investment

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	3	3	3	2	2	13
ES—external assets and liabilities	11	3	2	—	1	17
ES—financial intermediaries	5	—	—	—	—	5
ES—banks	12	4	2	3	—	21
Official sources n.i.e.	9	3	2	2	—	16
Partner country data	1	—	—	—	—	1
Items not measured	2	8	9	6	3	28

Table 30.

Compiler Survey—Sources Used to Measure Stocks of Other Investment

Source	Industrial Countries	Africa	Asia n.i.e.	Western Hemisphere	Other Countries	Total
ITRS	3	3	3	2	2	13
ES—external assets and liabilities	11	3	2	—	1	17
ES—financial intermediaries	5	—	—	—	—	5
ES—banks	12	4	2	3	—	21
Official sources n.i.e.	9	3	2	2	—	16
Partner country data	1	—	—	—	—	1
Items not measured	2	8	9	6	3	28

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

Note: Numbers of compilers providing ratings are shown in parentheses.

Table 31.

Compiler Survey—Compiler Assessments of the Quality of BOP and IIP Components

	Average Rating
	Industrial Countries	Africa	Asia n.i.e.	Other Countries	Total
Recorded trade	1.2(15)	2.2(12)	1.9(12)	1.9(16)	1.8(55)
Adjustments to recorded trade	1.8(12)	2.4(10)	2.3(7)	1.9(9)	2.1(38)
Transportation	2.6(15)	2.4(12)	2.4(12)	2.8(13)	2.6(52)
Travel, other than education	2.2(15)	2.3(12)	2.1(12)	2.6(14)	2.3(53)
Education services	1.8(9)	2.0(8)	2.1(9)	2.3(11)	2.1(37)
Other services	2.1(15)	2.4(12)	2.2(12)	2.4(15)	2.2(54)
Reinvested earnings	2.2(10)	2.3(8)	2.6(7)	2.2(9)	2.3(34)
Other investment income	1.6(15)	2.1(12)	2.1(11)	2.2(14)	2.0(52)
Compensation of employees	2.8(13)	2.6(8)	2.8(8)	2.4(7)	2.6(36)
Transfers	2.3(15)	2.4(11)	2.1(11)	2.4(12)	2.3(49)
Other direct investment transactions	1.7(15)	2.1(10)	2.2(10)	2.2(14)	2.0(49)
Portfolio investment transactions	1.6(15)	1-9(7)	1.7(10)	2.2(12)	1.8(44)
Other investment transactions	1.5(15)	1.5(7)	1.8(6)	2.5(9)	1.8(37)
Reserve asset transactions	1.0(15)	1.0(8)	1.3(10)	1.9(10)	1.3(43)
Direct investment stocks	1.6(11)	2.1(7)	2.2(6)	2.3(7)	2.0(31)
Portfolio investment stocks	1.4(12)	1.9(5)	1.6(7)	2.5(6)	1.7(30)
Other investment stocks	1.3(11)	1.4(6)	1.6(4)	2.6(5)	1.6(26)
Reserve asset stocks	1.0(13)	1.0(7)	1.0(6)	1.1(4)	1.0(30)

Note: Numbers of compilers providing ratings are shown in parentheses.

Table 31.

Compiler Survey—Compiler Assessments of the Quality of BOP and IIP Components

	Average Rating
	Industrial Countries	Africa	Asia n.i.e.	Other Countries	Total
Recorded trade	1.2(15)	2.2(12)	1.9(12)	1.9(16)	1.8(55)
Adjustments to recorded trade	1.8(12)	2.4(10)	2.3(7)	1.9(9)	2.1(38)
Transportation	2.6(15)	2.4(12)	2.4(12)	2.8(13)	2.6(52)
Travel, other than education	2.2(15)	2.3(12)	2.1(12)	2.6(14)	2.3(53)
Education services	1.8(9)	2.0(8)	2.1(9)	2.3(11)	2.1(37)
Other services	2.1(15)	2.4(12)	2.2(12)	2.4(15)	2.2(54)
Reinvested earnings	2.2(10)	2.3(8)	2.6(7)	2.2(9)	2.3(34)
Other investment income	1.6(15)	2.1(12)	2.1(11)	2.2(14)	2.0(52)
Compensation of employees	2.8(13)	2.6(8)	2.8(8)	2.4(7)	2.6(36)
Transfers	2.3(15)	2.4(11)	2.1(11)	2.4(12)	2.3(49)
Other direct investment transactions	1.7(15)	2.1(10)	2.2(10)	2.2(14)	2.0(49)
Portfolio investment transactions	1.6(15)	1-9(7)	1.7(10)	2.2(12)	1.8(44)
Other investment transactions	1.5(15)	1.5(7)	1.8(6)	2.5(9)	1.8(37)
Reserve asset transactions	1.0(15)	1.0(8)	1.3(10)	1.9(10)	1.3(43)
Direct investment stocks	1.6(11)	2.1(7)	2.2(6)	2.3(7)	2.0(31)
Portfolio investment stocks	1.4(12)	1.9(5)	1.6(7)	2.5(6)	1.7(30)
Other investment stocks	1.3(11)	1.4(6)	1.6(4)	2.6(5)	1.6(26)
Reserve asset stocks	1.0(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 Title	Scope and Purpose	Other Comments
1. BOP Exploratory	The 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 Register	The 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—Transactions	The 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—Banks	The 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—Enterprises	The 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—Goods	The 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 operators	The 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 operators	The 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–Travel	The 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—Services	The 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 employees	The 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 nonresidents	The 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 securities	This 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 institutions	This 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—Travel	This 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.

Summary of the Model Collection Forms

Number and Title	Scope and Purpose	Other Comments
1. BOP Exploratory	The 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 Register	The 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—Transactions	The 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—Banks	The 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—Enterprises	The 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—Goods	The 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 operators	The 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 operators	The 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–Travel	The 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—Services	The 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 employees	The 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 nonresidents	The 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 securities	This 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 institutions	This 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—Travel	This 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

Part B. Nonresident Owners

Part C. Ownership of Nonresident Branches and Companies

Part D. International Trade in Goods in 1993

Part E. International Trade in Services in 1993

Part F. Employment of Foreign Workers in 1993

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

Part H. Details of Subsidiary Companies in Gondwanaland

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

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.

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

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

Form 2—Balance of Payments Enterprise Register Form

Part A. Identification of Enterprise Group

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

Part B. Description of Enterprise Group

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

Part C Activities of the Group

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

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.

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

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

ITRS Form 3C—Classifications

Transaction Codes

Transaction Type

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

Other Party Codes

Country Codes

Currency Codes

Export/Import Codes

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

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:

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

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	Other Party Code J	Other Party Country Code K
	001






Total	///////	////////////	//////////////////	//////////////	////////////	//////////////////

Day A	Number B	Transaction Code C	Transaction Description D	Transaction Type E	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 Transaction	Payments 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

Description of Transaction	Payments 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

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.

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

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.

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.)

^{^(a)}For assets, H = D - E + F - G. For liabilities, H = D - E - F + G.

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

^{^(a)}For assets, H = D - E + F - G. For liabilities, H = D - E - F + G.

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

^{^(a)}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.

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

^{^(a)}Transactions of $G 10,000 or larger

^{^(b)}Transactions of less than $G 10,000

	Own Account Transactions of Bank A	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

^{^(a)}Transactions of $G 10,000 or larger

^{^(b)}Transactions of less than $G 10,000

	Own Account Transactions of Bank A	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

^{^(a)}Transactions of $G 10,000 or larger

^{^(b)}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:

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

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	Other Party Code J	Other Party Country Code K
	001





Total	//////	//////////////	//////////////////	//////////////	//////////////	//////////////////

Day A	Number B	Transaction Code C	Transaction Description D	Transaction Type E	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

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.)

^{^(a)}For assets, J = D - E + F - G + H - I. For liabilities, J = D - E - F + G - H + I.

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

^{^(a)}For assets, J = D - E + F - G + H - I. For liabilities, J = D - E - F + G - H + I.

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

^{^(a)}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)

^{^(a)}As recorded in your books.

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





Exports of Goods
				//////////////////
				//////////////////
				//////////////////

^{^(a)}As recorded in your books.

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





Exports of Goods
				//////////////////
				//////////////////
				//////////////////

^{^(a)}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.

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)

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)

	C.i.f. Value
		Country of Initial Dispatch (specify)
Commodity Group	Total B	C	D	E	F	G
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		/////////	/////////	/////////	/////////	/////////

	C.i.f. Value
		Country of Initial Dispatch (specify)
Commodity Group	Total B	C	D	E	F	G
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.

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

Part C. Goods Sent Abroad for Processing

(Report in thousands of Gondwanaland dollars)

		Value of Goods Held Abroad		Goods 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	/////////////

		Value of Goods Held Abroad		Goods 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:

Part D. Goods Sent from Abroad for Processing in Gondwanaland

(Report in thousands of Gondwanaland dollars)

		Value of Goods Held		Goods 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	/////////////

		Value of Goods Held		Goods 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:

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

(Report in thousands of Gondwanaland dollars)

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

(Report in thousands of Gondwanaland dollars)

Part G. Merchanting ^*

(Report in thousands of Gondwanaland dollars)

^{^*}Goods that are bought and sold abroad and do not enter Gondwanaland

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

^{^*}Goods that are bought and sold abroad and do not enter Gondwanaland

		Value of Goods Held Abroad		Value 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
Commodity Description A	Country B	Opening Stock C	Closing Stock D	Goods Purchased E	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)

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

(Report in thousands of Gondwanaland dollars)

Part J. Export Projections

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

Part K. Import Projections

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

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.

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

Conversion to Gondwanaland Dollars

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	B	C	D	E	F
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
10	Charter of vessels without crew
11	Advertising abroad
12	Other expenses abroad (specify................................)

			Earnings and Expenses by Country (specify)
		Total A	B	C	D	E	F
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
10	Charter of vessels without crew
11	Advertising abroad
12	Other expenses abroad (specify................................)

Part B. Expected Equipment Purchases

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	B	C	D	E	F
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

			Country of Residence of Nonresident Operator (specify)
		Total A	B	C	D	E	F
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.

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

Conversion to Gondwanaland Dollars

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	B	C	D	E	F
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.......................)

		Country of Residence of Operator (specify)
	Total A	B	C	D	E	F
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	B	C	D	E
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

		Country of Residence of Operator (specify)
	Total A	B	C	D	E
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	B	C	D	E
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: ..........................

		Country of Residence of Operator (specify)
	Total A	B	C	D	E
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.

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

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

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)

	Transactions by Country (specify)

	B	C	D	E	F
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

	Transactions by Country (specify)

	B	C	D	E	F
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)

	Transactions by Country (specify)

	B	C	D	E	F
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

	Transactions by Country (specify)

	B	C	D	E	F
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.

	Transactions by Country (specify)

	B	C	D	E	F
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

	Transactions by Country (specify)

	B	C	D	E	F
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)

	Country of Residence of Traveler (specify)

	B	C	D	E	F
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

	Country of Residence of Traveler (specify)

	B	C	D	E	F
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)

	Country of Residence of Traveler (specify)

	B	C	D	E	F
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

	Country of Residence of Traveler (specify)

	B	C	D	E	F
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.

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

Conversion to Gondwanaland Dollars

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	B	C	D	E	F
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............................)

		Transactions by Country (specify)
	Total A	B	C	D	E	F
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)

	Transactions by Country (specify)

	B	C	D	E	F
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............................)

	Transactions by Country (specify)

	B	C	D	E	F
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.

	Transactions by Country (specify)

	B	C	D	E	F
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

	Transactions by Country (specify)

	B	C	D	E	F
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 Position	Premiums Earned/Claims Due in Quarter	Payments	Other Changes	Closing Position
	A	B	C	D	E
Insurance and Re-insurance Provided to Nonresidents
36. Premiums
37. Claims
Re-insurance Ceded to Nonresidents
38. Premiums
39. Claims

	Opening Position	Premiums Earned/Claims Due in Quarter	Payments	Other Changes	Closing Position
	A	B	C	D	E
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.

		Transactions by Country (specify)

		B	C	D	E	F
40. Insurance of goods	Premiums paid Claims received
40. Insurance of goods	Premiums paid Claims received
41. Other casualty insurance	Premiums paid Claims received
41. Other casualty insurance	Premiums paid Claims received
42. Life insurance	Premiums paid Claims received
42. Life insurance	Premiums paid Claims received

		Transactions by Country (specify)

		B	C	D	E	F
40. Insurance of goods	Premiums paid Claims received
40. Insurance of goods	Premiums paid Claims received
41. Other casualty insurance	Premiums paid Claims received
41. Other casualty insurance	Premiums paid Claims received
42. Life insurance	Premiums paid Claims received
42. Life insurance	Premiums 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:

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.

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)

	A	B	C	D	E	F
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

	Residents of Gondwanaland (specify country of nationality of workers)			Nonresidents (specify country of nationality of workers)

	A	B	C	D	E	F
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.

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

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:

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)

^{^(a)}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.

	Change in Position
	Transactions			Other 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

	Change in Position
	Transactions			Other 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

Part B. Claims on Nonresidents by Country of Nonresident Debtor

(Report in thousands of Gondwanaland dollars)

^{^(a)}The category includes bonds, money market instruments, and financial derivatives.

^{^(b)}Please include amounts relevant to these instruments in the other instruments column.

Country of Debtor (specify)	Net Transactions			Closing Position			Income
Country of Debtor (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
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

^{^(a)}The category includes bonds, money market instruments, and financial derivatives.

^{^(b)}Please include amounts relevant to these instruments in the other instruments column.

Country of Debtor (specify)	Net Transactions			Closing Position			Income
Country of Debtor (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
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

^{^(a)}The category includes bonds, money market instruments, and financial derivatives.

^{^(b)}Please include amounts relevant to these instruments in the other instruments column.

Part C. Liabilities to Nonresidents

(Report in thousands of Gondwanaland dollars)

^{^(a)}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.

	Change in Position
	Transactions			Other 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

	Change in Position
	Transactions			Other 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

Part D. Liabilities to Nonresidents by Country of Nonresident Creditor

(Report in thousands of Gondwanaland dollars)

^{^(a)}The category includes bonds, money market instruments, and financial derivatives.

^{^(b)}Please include amounts relevant to these instruments in the other instruments column.

	Net Transactions			Closing Position			Income
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

^{^(a)}The category includes bonds, money market instruments, and financial derivatives.

^{^(b)}Please include amounts relevant to these instruments in the other instruments column.

	Net Transactions			Closing Position			Income
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

^{^(a)}The category includes bonds, money market instruments, and financial derivatives.

^{^(b)}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

		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.

What were the corresponding book values?

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)

	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 Shareholders	Country of Residence of Nonresident Direct Investors (specify)
	Total for All Shareholders
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)	///////////////// /////////////////

	Total for All Shareholders	Country of Residence of Nonresident Direct Investors (specify)
	Total for All Shareholders
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.

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

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






(b) Securities Issued by Nonresidents and Owned by Residents
										//////////////
										//////////////
										//////////////
										//////////////
										//////////////

Reference Number A	Owner Code B	Opening Position D	Financial Transactions				Other Changes H	Closing Position I	Income J	Fees K	Withholding Taxes L
Reference Number A	Owner Code B	Opening Position D	Issues D	Redemptions E	Purchases F	Sales G	Other Changes H	Closing Position I	Income J	Fees K	Withholding Taxes L
(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 Transactions				Other Changes H	Closing Position I	Income J	Fees K	Withholding Taxes L
Reference Number A	Owner Code B	Opening Position D	Issues D	Redemptions E	Purchases F	Sales G	Other Changes H	Closing Position I	Income J	Fees K	Withholding Taxes L
(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
										//////////////	//////////////
										//////////////	//////////////
										//////////////	//////////////
										//////////////	//////////////

Reference Number A	Owner Code B	Opening Position D	Financial Transactions				Other Changes H	Closing Position I	Income J	Fees K	Withholding Taxes L
Reference Number A	Owner Code B	Opening Position D	Issues D	Redemptions E	Purchases F	Sales G	Other Changes H	Closing Position I	Income J	Fees K	Withholding Taxes L
(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

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.

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

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

Form 14—Embassies and International Institutions

Part A. Average Number of Staff Employed During the Quarter

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

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

Part C. Capital Receipts in Gondwanaland During the Quarter

(Report in thousands of Gondwanaland dollars)

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

(Report in thousands of Gondwanaland dollars)

Part E. Official Loans to Residents of Gondwanaland

(Report in thousands of currency units)

Name of Borrower	Currency of Loan	Position at Beginning of Quarter	Drawings During the Quarter	Repayments During the Quarter	Other Changes in Position	Position at End of the Quarter	Interest
A	B	C	D	E	F	G	H
Loans



Arrears

Name of Borrower	Currency of Loan	Position at Beginning of Quarter	Drawings During the Quarter	Repayments During the Quarter	Other Changes in Position	Position at End of the Quarter	Interest
A	B	C	D	E	F	G	H
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.

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 Expenditure	Amount (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

Type of Expenditure	Amount (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?

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

Source of Receipts	Amount (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

Source of Receipts	Amount (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 P1

Balance of Payments Summary

(currency in millions)

Table P1

Balance of Payments Summary

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P1

Balance of Payments Summary

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P2

Balance of Payments Goods Account

(currency in millions)

Table P2

Balance of Payments Goods Account

(currency in millions)

		Time Period
Series Title		P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P2

Balance of Payments Goods Account

(currency in millions)

		Time Period
Series Title		P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P3

Balance of Payments Services Account

(currency in millions)

Table P3

Balance of Payments Services Account

(currency in millions)

		Time Period
Series Title		P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P3

Balance of Payments Services Account

(currency in millions)

		Time Period
Series Title		P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P4

Balance of Payments Income Account

(currency in millions)

Table P4

Balance of Payments Income Account

(currency in millions)

					Time Period
Series Title					P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P4

Balance of Payments Income Account

(currency in millions)

					Time Period
Series Title					P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P5

Balance of Payments Current Transfer Account

(currency in millions)

Table P5

Balance of Payments Current Transfer Account

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
Current transfer credits
	General government
	Other sectors
		Workers’ remittances
		Other
Current transfer debits
	General government
	Other sectors
		Workers’ remittances
		Other

Table P5

Balance of Payments Current Transfer Account

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
Current transfer credits
	General government
	Other sectors
		Workers’ remittances
		Other
Current transfer debits
	General government
	Other sectors
		Workers’ remittances
		Other

Table P6

Balance of Payments Capital Account

(currency in millions)

Table P6

Balance of Payments Capital Account

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P6

Balance of Payments Capital Account

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P7

Balance of Payments Financial Account

(currency in millions)

^{^*}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 P7

Balance of Payments Financial Account

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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

Table P7

Balance of Payments Financial Account

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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

Table P8

Balance of Payments International Investment Position

(currency in millions)

Table P8

Balance of Payments International Investment Position

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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

Table P8

Balance of Payments International Investment Position

(currency in millions)

			Time Period
Series Title			P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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

Table P9

External Debt

(currency in millions)

Table P9

External Debt

(currency in millions)

		Time Period
Series Title		P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P9

External Debt

(currency in millions)

		Time Period
Series Title		P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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 P10

Balance of Payments Ratios

^{^*}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.

Table P10

Balance of Payments Ratios

	Time Period
Series Title	P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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.

Table P10

Balance of Payments Ratios

	Time Period
Series Title	P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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.

100

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.

101

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.

102

A full description of each of these items is provided in Chapter 13 of the BPM

103

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.

104

Differences between cash data and accrual data would be included as transactions in other investment—other assets/Liabilities of the financial account.

105

In addition, gross premiums and claims are useful BOP memorandum items.

106

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).

107

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

108

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.

109

For best results, separate percentages should be calculated for nonresidents working in the compiling economy and for residents working abroad.

110

Such surveys arc discussed in chapter 4. paragraphs 169-173.

111

For information on these surveys, see chapter 7. paragraphs 315-324.

112

These surveys are described in chapter 9. paragraphs 380-382

113

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.

114

For a full description of the components of investment income, see chapter 14 of the BPM.

115

Related financial transactions reported in an ITRS also may have to be adjusted for premiums and discounts.

116

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.

117

For an example of the use of the yield approach to derive estimates of investment income, see chapter 16, paragraph 776.

118

The weights may be determined by using the proportion of portfolio equity assets located in each country.

119

These rates are included in world and area tables provided at the beginning of issues of IFS.

120

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.

121

See chapter 16 for further details.

122

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.

123

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.

124

The exclusion is particularly important in high inflation countries.

125

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.

126

For a description of these components, see chapter 12, paragraphs 551–552.

127

Property income (in this case) is equal to investment income plus rent.

128

The fourth edition of the BPM advocated recording interest on a due-for payment basis.

129

For a discussion on compiling estimates of stocks of securities at market values, see chapter 16, paragraphs 732–743.

130

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.

131

For a full discussion of BOP recording issues associated with these types of bonds, see chapter 16, paragraphs 760–762.

132

This information could, for example, be obtained from a sample of nontradable debt agreements between residents and nonresidents.

133

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.

134

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.

135

For a detailed discussion on the nature of current transfers, see chapter 15 of the BPM.

136

The term foreign workers refers to persons who migrate to work in the compiling economy for 12 months or more.

137

Nationals of the compiling country who work in another country for 12 months or more are nationals working abroad.

138

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.

139

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.

140

For a detailed discussion on the nature of capital transfers, see chapter 17 of the BPM.

141

Surveys of embassies and international institutions are described in paragraphs 380–383 of chapter 9, and DAC data are described in paragraphs 388–390.

142

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.

143

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.

144

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.

145

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.

146

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).

147

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.

148

The ratios were established on the basis of an analyses of companies listed on stock exchanges.

149

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.

150

Depreciation is not included in this calculation as no cash is involved.

151

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.

152

For a full description of portfolio investment, see chapter 19 of the BPM.

153

For an example, see chapter 13, paragraphs 598-599.

154

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.

155

Transactions in financial fees should be recorded in the current account as financial services.

156

The survey of intermediaries should also include enterprises that maintain registers for securities issued by the enterprises themselves.

157

For a discussion of this process, see paragraphs 778-783 of this chapter.

158

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.

159

This technique obviously requires detailed information on transactions.

160

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.

161

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.

162

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.

163

For a discussion of the recording of interest income on a full accrual basis, see chapter 13, paragraphs 614-624.

164

For a full description of other investment, see chapter 20 of the BPM.

165

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.

166

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.

167

Information of this nature can be found in the IFS table headed Cross Border Bank Deposits of Nonbanks by Residence of Creditor.

168

The compilers have assumed that there were no price or other changes in the value of claims.

169

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.

170

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.

171

For a discussion of methods that could be used to estimate the impact of valuation changes, see paragraphs 732-739 of this chapter.

172

For a complete description of the nature of reserve assets, see chapter 21 of the BPM.

173

For a full description of the nature of LCFAR and exceptional financing transactions, see chapter 22 of the BPM.

174

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.

175

Chapter 24 of the BPM contains further information on regional BOP statements.

l76

This classification principle is consistent with classification of the IIP by partner country.

177

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.

178

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

179

Ibid., 38.

180

Ibid., 42.

181

Ibid., 38.

182

For the definition of a subsidiary, see chapter 16. paragraph 685.

183

Non-responding enterprises are generally treated the same as unselected enterprises and, in effect, are allocated the average activity of related, responding enterprises.

184

For example, the compiler may compare stocks of financial assets and liabilities reported by enterprises with published balance sheets of enterprises.

185

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.

186

Corresponding ITRS forms 3P and 3R should be completed by bank customers conducting large transactions.

187

Classifying data by sector of the nonresident party may also be desirable. For example, the closing position column could be subdivided into sectors.

188

Type of instrument refers to equities, long-term bonds and notes, short-term money market instruments, and financial derivatives.

189

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.

190

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.

191

For a discussion on assessing the needs of users, sec chapter 18, paragraph 840.

193

Items or transactions excluded from “above-the-line” entries are shown “below the line” as financing the balance of payments outcome.

194

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.

195

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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Balance of Payments Compilation Guide

Author:

International Monetary Fund

ISBN:: 9781557754707

Publication Date:: 15 Mar 1995

Publisher:: International Monetary Fund

DOI:: https://doi.org/10.5089/9781557754707.071

Pages:: 396

Front Matter

Back Matter

Appendix I. Balance of Payments Compiler Survey on Data Sources and Methods
Appendix II. Model Balance of Payments Forms
Appendix III. Model Balance of Payments Publication Tables
Index

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Table P10

Balance of Payments Ratios

	Time Period
Series Title	P1	P2	P3	P4	P5	P6	P7	P8	P9	P10
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.

Topics

Countries

Series

About

Resources

Abstract

Appendix I. Balance of Payments Compiler Survey on Data Sources and Methods

Introduction

Individual Data Sources

International Trade Statistics

International Transactions Reporting Systems

Enterprise Surveys

Official Sources

Household Collections

Partner Countries and International Institutions as Data Sources

Frequency and Timeliness of Data Sources

Compiler Assessments of the Quality of Data Sources

Compilation of BOP and IIP Statistics

Goods

Transportation Services

Travel Services

Education and Health Services

Other services n.i.e.

Compensation of employees

Reinvested Earnings

Other Investment Income

Transfers (current and capital)

Direct Investment, Other Than Reinvested Earnings, Financial Flows

Portfolio Investment, Financial Flows

Other Investment, Financial Flows

International Investment Position Statistics

Compiler Assessments of the Quality of Statistics

Appendix II. Model Balance of Payments Forms

Form 1—Exploratory Survey

Form 1—Exploratory Form

Part A. Introductory Questions

Part B. Nonresident Owners

Part C. Ownership of Nonresident Branches and Companies

Part D. International Trade in Goods in 1993

Part E. International Trade in Services in 1993

Part F. Employment of Foreign Workers in 1993

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

Part H. Details of Subsidiary Companies in Gondwanaland

Part I. Final Questions

Form 2—Balance of Payments Enterprise Register Form

Part A. Identification of Enterprise Group

Part B. Description of Enterprise Group

Part C Activities of the Group

Part D. Population Maintenance Information

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

Part F. Major Shareholders

Section G. Officer Completing This Form

Instructions for Form 2—Balance of Payments Enterprise Register Form

ITRS Form 3P—Payments

General Notes on Form 3P

Completing Form 3P

ITRS Form 3C—Classifications

Transaction Codes

Transaction Type

Other Party Codes

Country Codes

Currency Codes

Export/Import Codes

ITRS Form 3M—Imports

Form 4—Banks

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

Definitions of Residents and Nonresidents

Form 3 Series

ITRS Form 4A—Banks

Completing ITRS Form 4A—Banks

Part A

Part B

Part C

Parts D, E, and F

Part G

Part H

ITRS Form 4B—Bank’s Record of Transactions

Other ITRS Forms

Balance of Payments Survey ITRS Form 4A—Banks

Part A. Reference Information

Part G. Merchanting ^*