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International Trade in Services

International Trade in Services. Franca Faes-Cannito European Commission Eurostat, Balance of Payments Unit. International trade in services. Framework: Balance of Payments Due to their intangible nature, trade in services is subject to more constraints than trade in goods

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International Trade in Services

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  1. International Trade in Services Franca Faes-Cannito European Commission Eurostat, Balance of Payments Unit Luxembourg

  2. International trade in services • Framework: Balance of Payments • Due to their intangible nature, trade in services is subject to more constraints than trade in goods • Services are the fastest growing part of international trade • International Standards – IMF BPM5 (BMP6); MSITS; • The classification of services and related nomenclature are set in BPM5 and EBOPS Luxembourg

  3. Role of Eurostat • All MSs send to Eurostat data specified by BoP Regulation • Eurostat monitors methodological practices in the MS • Eurostat harmonises data received from the MS • Major attention is paid to quality of data • Eurostat calculates EU and Euro area aggregates • Eurostat disseminates data via its database • Eurostat publishes on-line and paper publications Luxembourg

  4. Institutional framework • Regulation on Community statistics concerning balance of payments, international trade in services and foreign direct investment. • MS are legally obliged to send the required data in accordance with the details and deadlines stated in the regulation. • Balance of Payments Committee: composed of all MSs and chaired by Eurostat. Responsible for comitology issues • Balance of Payments Working Group: platform for technical discussions Luxembourg

  5. Area of activities • Quarterly Balance of Payments, • International Trade in Services, • Foreign Direct Investment, • Foreign Affiliates Statistics, • BoP of the European Institutions. Luxembourg

  6. International trade in services • Flows: imports, exports and balance. • Reporters: EU, Member States, Euro area, CCs, Norway, USA and Japan. • Item classification: common Eurostat/OECD classification (EBOPS) – about 85 service categories • Geographical partners: about 200 countries, economic and geographic zones • Availability: Eurostat database - since 1985 • Structural Indicators: Trade integration of services Luxembourg

  7. 11 main groups Luxembourg

  8. EBOPS-Transport Luxembourg

  9. EBOPS-Travel Luxembourg

  10. EBOPS - other services Luxembourg

  11. EBOPS-other services (cont.) Luxembourg

  12. Geographical breakdown Level 1: • World, CH, CA, US, JP, BR, RU, CN, HK, IN, EU, Extra-EU, Extra-Euro area, EUI, Offshore centres Level 2: • 60 countries and 15 regions, 30 economic zones Level 3: • More than 200 countries and regions Luxembourg

  13. ITS - timeline Annual ITS (illustrated by 2007 as reference year) • MS sent all required data by 30 Sept. 2008 • Data treatment Oct.-Nov. 2008 • Dissemination (incl. aggregates) 27 Nov. 2008 • Dissemination of non-EU countries Dec. 2008 Preliminary data for 2008 (based on quarterly data) • Data for IV quarter received 31 March 2009 • Data for IV quarter published 22 April 2009 • Preliminary 2008 annual data released 29 April 2009 Luxembourg

  14. EUROSTAT WEBSITE Luxembourg

  15. ITS - Publication • Press release • 27.11.2008 (ITS 2007) • 22.04.2009 (Preliminary 2008) • Statistics in Focus • International trade in services • Trade in Services with South Korea • Travel 2007 • Current account preliminary results (to be released) • Detailed Tables • EU International trade in services – analytical aspects Luxembourg

  16. EU Total services with the rest of the world (in bn €) *2008: provisional data Luxembourg

  17. EU trade with its main partners, total services (in mil. €) Luxembourg

  18. 11 main groups: EU international trade in services with the rest of the world in 2008* (in bn €) *2008: provisional data Luxembourg

  19. Thank you for your attention Luxembourg

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