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BOP Services Classification for a revised Balance of Payments Manual

This document discusses the proposed revisions and unresolved issues in the classification of goods and services for the Balance of Payments Manual. It includes recommendations for changes in various sectors such as transportation, telecommunications, insurance, and financial services. The document also outlines the next steps and process for finalizing the revised classification.

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BOP Services Classification for a revised Balance of Payments Manual

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  1. BOP Services Classification for a revised Balance of Payments Manual William Cave OECD Statistics Directorate OECD-Eurostat Expert Group on Trade in Services September 2005

  2. Goods and services overview for BOP OECD-Eurostat Expert Group on Trade in Services September 2005

  3. Introduction • Starting point Annotated Outline 2004 Chapter 9 • Considers developments at the BOPTEG June 2004, BOPCOM Oct 2004, SNA AEG, and UN TSG on Classifications • Identifies unresolved issues related to these. • Incorporates the outcome of classification discussions at the February 2005 meeting of (ITFSITS), • Some other issues. • Proposed next steps. OECD-Eurostat Expert Group on Trade in Services September 2005

  4. BOPCOM 2004 agreed • goods for repair should be changed from goods to services; • additional detail on travel be included on a supplementary basis; • communication and computing services be combined, provided that postal and courier services separated away • construction services be shown with an additional split, construction services abroad separately from construction services in the compiling economy • the treatment of financial services be harmonized, in line with developments at OECD and AEG, to the extent possible; • international passenger services should remain in transportation services; • a residual category for transactions between related entities not be included in BOPS classification. OECD-Eurostat Expert Group on Trade in Services September 2005

  5. Unresolved issues in SNA/BPM/CPC revision • Goods for processing (now resolved by AEG) • Merchanting BPM/AEG • Franchise fees and payments for the use of similar rights? AEG/Canberra II - name and coverage • Originals and copies and extended licenses to reproduce. Will software license fees for reproduction be included in trade - if not where will they go? • Links to CPC OECD-Eurostat Expert Group on Trade in Services September 2005

  6. Proposals from ITFSITS • 2 Transport (*proposed inclusion of post and courier services*) • Of which passenger †; freight †; other† • 2.1 Sea Transport • 2.1.1 Passenger • 2.1.2 Freight • 2.1.3 Other • 2.2 Air transport • Ditto • 2.3 Other modes of transport • Ditto • 2.4 Post and courier services OECD-Eurostat Expert Group on Trade in Services September 2005

  7. 4. Telecommunications, computer and other information Services(*suggested name change - AO Information technology services?*) • 4.1 Telecommunications services • 4.2 Computer services • 4.3 Other information provision services • (*border line with audiovisual services and CPC issues?*) OECD-Eurostat Expert Group on Trade in Services September 2005

  8. Insurance and financial services • Direct insurance and reinsurance (optional items) • Explicitly charged and implicitly charged financial services(FISIM?) OECD-Eurostat Expert Group on Trade in Services September 2005

  9. Other issues • Franchise fees and payments for the use of similar rights? (coverage name) • Digital products or information products, • Goods not in HS should they be in services? • Goods v services – There are grey areas. • How to treat trade in produced assets that are not classified as goods in HS? For example software originals, and presumably patents • travel, travel agents and tour operators (raised by World Tourism Organization). • Does DITEG work on construction services have any implications for measurement of construction services? • Government services n.i.e.: Is it appropriate to leave this item tobe a residual? OECD-Eurostat Expert Group on Trade in Services September 2005

  10. Next steps and process • presented to IMF BOPCOM in June 2005 • seek views of OECD-Eurostat Expert Group September 2005 • examine links BOPS to CPC planned by October 2005, or before CPC is finalized. Also important for subsequent revision of EBOPS • revised draft proposals on BOPS to be submitted to ITFSITS by end 2005. • final draft proposals to IMF BOPCOM by April 2006 OECD-Eurostat Expert Group on Trade in Services September 2005

  11. Questions for classification • Do delegates agree with structure and process? • Software in CPC version 2 is proposed split into HS CD-ROMs, DVD (package software) etc, online delivery, licences, originals. Should online delivery of software be recorded in Telecommunication and Information Technology services? • Should a ‘grey area’ be considered in BOPS which is neither goods nor services for GFP, merchanting, repairs, others? OECD-Eurostat Expert Group on Trade in Services September 2005

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