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Trade in Services - Overview

Trade in Services - Overview. Kevin B. Armbrister Assistant Statistician. Major Categories of Trade in Services. Transportation Travel Insurance Services Construction Services Royalties and Licence Fees Offshore Companies Local Expenses Government Other Services. Travel.

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Trade in Services - Overview

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  1. Trade in Services - Overview Kevin B. Armbrister Assistant Statistician

  2. Major Categories of Trade in Services • Transportation • Travel • Insurance Services • Construction Services • Royalties and Licence Fees • Offshore Companies Local Expenses • Government • Other Services

  3. Travel • Visitor Travel • Air Arrivals • Stopover Arrivals • Day Arrivals • Sea Travelers • Cruise Arrivals • Cruise-Stopover Arrivals • Travel Credit • Travel Debit • Personal Travel • Students • Business Travelers • Medical Patients

  4. Source of Data • Official Source of Travel Credit • Ministry of Tourism • Exit Survey • Hotel Performance Records • Survey of Industry Activities • Official Source of Travel Debit • Exchange Control Records

  5. Transportation Services - Coverage in Balance of Payments of the Bahamas • Transportation by Air • Transportation by Sea

  6. Transportation • Passenger Services • Freight and Insurance Services • Port and Handling Charges

  7. Main data source for Transportation: • Survey • Airlines Companies • Domestic Airlines • Agents for Foreign Airlines • Shipping Companies • Domestic Shipping Companies • Foreign Shipping Companies • Exchange Control Records

  8. Construction Construction: Coverage in the Bahamas’s balance of payments • Resident Companies • Foreign Contractors working for local companies

  9. Maindata source for Construction: • Survey • Direct Company Survey • Exchange Control Records • Bahamas Investment Authority

  10. Construction • Debit • Non-resident contractors • Credit • Not considered an issue since the early 50s/60s

  11. Advantages and Disadvantagesof Present System • Exchange Control Records • Ability to capture transactions • Reported revenue from hotels and agents • Immigration records at point of entry • Availability of timely data • Lack of empirical studies on available data

  12. Insurances Services • Reinsurance premiums • Transportation Insurance • Non-merchandise insurance

  13. Royalties and License fees • Franchise fees • Asset titles

  14. Government n.i.e • Embassies • Consulates • Military bases

  15. Other Supporting Agencies • Department of Statistics • Ministry of Finance • Ministry of Financial Services • Ministry of Tourism • The Department of Agriculture and Fisheries • Hotel Corporation of the Bahamas

  16. Plans for Improvement • Review of National Presentation • Validation of Data • Empirical Analysis • Reporting conventions • Greater coordination efforts between agencies

  17. Travel vs Overall Trade in Services

  18. The End

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