methodological changes in austria’s balance of payments
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Methodological changes in Austria’s balance of payments. Impact on trade in goods and services statistics Patricia Walter Oesterreichische Nationalbank, Balance of Payments Division September 2007. Agenda. A new balance of payments system: motivation and concepts - PowerPoint PPT PresentationTRANSCRIPT
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www.oenb.at [email protected]
Methodological changes in Austria’s balance of payments
Impact on trade ingoods and services statistics
Patricia WalterOesterreichische Nationalbank, Balance of
Payments DivisionSeptember 2007
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Oesterreichische National bank
Agenda
• A new balance of payments system: motivation and concepts
• Cooperation with Statistics Austria
• New survey on trade in services
• First results
• Future Outlook
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Oesterreichische National bank
A new balance of payments system: Motivation • Until 2006, compilation of the Austrian balance of
payments via a MFI based settlement system
– Complemented by surveys for the financial account– Compilation of trade in services completely settlement
based, except for travel
• Growing negative effects on data quality and compilation efficiency
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Oesterreichische National bank
A new balance of payments system: Motivation
– Common currency in the Euro area blurres the distinction between national and foreign transactions
• Travel item: new survey based compilation already introduced with the introduction of the Euro
– Step wise development of a single Euro payments area diminishes the useability of payments for statistical purposes
– Intra-company settlement systems (cash centres) loosen the connection between payments and transactions, concerning volumes as well as regional structures
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Oesterreichische National bank
A new balance of payments system: Concepts• In January 2006, OeNB switched to a direct reporting
system
– From this key date onwards • No settlement data have been available any more• Complete data collection substituted by surveys
• Main components– Sample design varies with type of transaction and
industrial sector– Reporting population consists of about 7.000 economic
entities, from these about 5.000 report on trade in services– Legal basis attributes the central bank the same status as
to the NSI, giving access to registers and administrative data
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Oesterreichische National bank
• A new balance of payments system: motivation and concepts
• Cooperation with Statistics Austria
• New survey on trade in services
• First results
• Future Outlook
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Oesterreichische National bank
Cooperation with Statistics Austria
• Basic agreement on cooperation between OeNB and NSI, Statistics Austria– Concentration on the respective expertise– Statistics Austria in real economies and the OeNB in financial
markets– „Cooperation framework agreement“, yardstick
„memorandum of understanding“ between ECB and EUROSTAT
• Concrete tasks are laid down in service provider contracts like for compiling exports and imports of services– Statistics Austria collects data from non financial companies– OeNB from insurance companies and banks
• Synergies are gained within the scope of external statistics– Including the harmonization with National Accounts
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Oesterreichische National bank
Cooperation with Statistics Austria
non-financial corporations
financial corporations
general government
private households
nonprofit institutions
serving households
CURRENT ACCOUNT
Goods
Services
Income
employment income
investment inmcome
Current Transfers
CAPITAL ACCOUNT
FINANCIAL ACCOUNT
Direct Investment
Portfolio Investment
Financial Derivatives
Other Investment
Official Reserves
Errors and Omissions
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Oesterreichische National bank
Cooperation with Statistics Austria
Respondents of trade in services
In % of total
Trade in services only 70,0%
Trade in services and one category of financial transactions 21,8%
Trade in services and two categories of financial transactions 7,9%
Trade in services and three categories of financial transactions 0,4%
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Oesterreichische National bank
Cooperation with Statistics Austria
Intra/Extrastat
„XINTIP“
Matrix
Current Account
Verification
Estimation
Services Survey
AdministrativeData
Travel Survey
Aggregation
Data Base
BoP-Sets
Transmission
EUROSTAT
CA x Country x SectorC/D/N
ECB
StatisticsAustria
CA1
CA2
Services SurveyInvestment
Income
Aggregation
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Oesterreichische National bank
• A new balance of payments system: motivation and concepts
• Cooperation with Statistics Austria
• New survey on trade in services
• First results
• Future Outlook
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Oesterreichische National bank
• Concentration survey for identifying the statistical population
– Carried out within the scope of Austria‘s structural business survey 2003 (EG, EURATOM no. 58/97)
• Covered 32,247 out of 266,258 Austrian business units • Service industry: different thresholds in turnover between € 750.000 and
1,5 Mio. • Manufacturing industry: threshold in number of employees > 20
– Not included i.a.• Financial corporations• Public and private services (education, health, welfare; )
– Gap estimates• Settlement data for unit-non-response• Imputation of remaining reporting deficits (MEDIAN, turnover and sector
classes)• Estimates for businesses below survey thresholds (Regression, services
exports and imports to turnover)
New survey on trade in services: population analysis
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Oesterreichische National bank
New survey on trade in services: population analysis
Businesses with
services exports
Services exports
in € 1,000
Businesses with
services imports
Services imports
in € 1,000 Net
Survey data 5,214 17,334,917 4,973 13,718,530 3,616,387
Totals after estimates 47,137 20,132,846 43,641 15,739,222 4,393,624
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Oesterreichische National bank
New survey on trade in services: survey design
Number of businesses
Coverage in % of concentration survey
Coverage in % of total
Services exports
Services imports
Services exports
Services imports
4.800 99 99 89 91
– Thresholds depending on type of industrial sector• € 200,000 or 50,000 for services exports as well as imports
per year
– Two different reporting concepts• Quarterly report on services exports and imports regarding
partner countries and classification of services• Quarterly report on services exports and imports regarding
partner countries together with yearly report on the classification of services
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Oesterreichische National bank
– Transportation– Travel– Communication services– Construction services– Insurance services– Financial services– Computer and information services– Royalties and licence fees– Other business services – Personal, cultural and recreational services– Government Services, n.i.e.– Employment income, debet– Current transfers
New survey on trade in services: survey design
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Oesterreichische National bank
• Transportation: cif/fob correction
Until 2006 Credit, c Debet, d Net
Goods, G Gc Gd -Td Gc – Gd + Td
Transport services, T Tc Td Tc - Td
Services not allocated,S.N.A. S.N.A.c S.N.A.d + Td S.N.A.c – S.N.A.d – Td
New survey on trade in services: changes in concepts
Since 2006:Te = Volume x distance x freight rate, Te < Td Credit, c Debet, d Net
Goods, G Gc Gd -Te Gc – Gd + Te
Transport services, T Tc - Tec Td + Ted Tc – Tec – Td – Ted
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Oesterreichische National bank
• Insurance services
– Calculation of insurance service charge, for exports and imports
• Gross premium – gross claim = net premium per country and period
• (gross premium – gross claim)/gross premium = x[%] long-term
• Gross premium * x% = insurance service charge per country and period
– Database harmonized with Financial Market Authority (EU regulation no. 1225/1999 to 1228/1999)
– Mirror Data are available for imports
New survey on trade in services: changes in concepts
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Oesterreichische National bank
• Financial services
– Completely corrected for financial derivatives
• Government services
– Inclusion of compensation of employees by international organizations
New survey on trade in services: changes in concepts
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Oesterreichische National bank
• Methodological changes I
– Compilation until 2006: statistics of overnight stays and guest interviews, settlement data
– Since 2006: hyprid type of compilation– New seasonality due to change of time of recording: from
time of settlement to travel
• Methodological changes II
– Distinction between different components – Inclusion of expenditures from seasonal workers and
students– Exclusion of payments from foreign and illegal workers– Correction for national components, especially for package
tours
New compilation of the travel item
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Oesterreichische National bank
• A new balance of payments system: motivation and concepts
• Cooperation with Statistics Austria
• New survey on trade in services
• First results
• Future Outlook
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Oesterreichische National bank
• Table 1
– First results for 2006 and provisional recalculations for 2005
First results: data and recalculations
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Oesterreichische National bank
Methodological effectsCURRENT ACCOUNT gross volumes decrease, net value increases CURRENT ACCOUNT
Goods imports increase, net value decreases GoodsServices gross volumes decrease, net value increases Services
Transportation imports increase, exports and net value decrease Transportationof which: Passenger transport exports decrease of which: Passenger transport
Sea transport Sea transport
Air transport exports decrease Air transport
Other transport imports increase Other transport
Travel imports decrease, net value increases TravelCommunication services Communication services
Construction services Construction services Construction abroad Construction abroad
Construction in the compiling economy Construction in the compiling economy
Insurance services gross volumes decrease Insurance servicesFinancial services gross volumes decrease Financial services
Computer and information services exports and net value increase Computer and information servicesRoyalties and licence fees Royalties and licence feesOther business services exports and net value increase Other business services
Merchanting Merchanting
Other trade related services Other trade related services
Operational leasing services Operational leasing services
Miscellaneous business, professional and technical services exports increase
Miscellaneous business, professional and technical services
Personal, cultural and recreational services imports increase, net value decreases
Personal, cultural and recreational services
Government services, n.i.e. exports and net value decrease Government services, n.i.e.
Services not allocated -Income Income
Compensation of employees Compensation of employeesInvestment income Investment income
Direct investment Direct investment
Portfolio investment Portfolio investment
Other investment Other investment
Current transfers Current transfers
Public sector gross volumes decrease Public sectorPrivate sector imports decrease, net value increases Private sector
CAPITAL ACCOUNT CAPITAL ACCOUNTFINANCIAL ACCOUNT FINANCIAL ACCOUNT
Errors and omissions Errors and omissions
Austrian Balance of Payments
First Results: methodological effects2005 2006
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Oesterreichische National bank
Methodological effectsCURRENT ACCOUNT gross volumes decrease, net value increases CURRENT ACCOUNT
Goods imports increase, net value decreases GoodsServices gross volumes decrease, net value increases Services
Transportation imports increase, exports and net value decrease Transportationof which: Passenger transport exports decrease of which: Passenger transport
Sea transport Sea transport
Air transport exports decrease Air transport
Other transport imports increase Other transport
Travel imports decrease, net value increases TravelCommunication services Communication services
Construction services Construction services Construction abroad Construction abroad
Construction in the compiling economy Construction in the compiling economy
Insurance services gross volumes decrease Insurance servicesFinancial services gross volumes decrease Financial services
Computer and information services exports and net value increase Computer and information servicesRoyalties and licence fees Royalties and licence feesOther business services exports and net value increase Other business services
Merchanting Merchanting
Other trade related services Other trade related services
Operational leasing services Operational leasing services
Miscellaneous business, professional and technical services exports increase
Miscellaneous business, professional and technical services
Personal, cultural and recreational services imports increase, net value decreases
Personal, cultural and recreational services
Government services, n.i.e. exports and net value decrease Government services, n.i.e.
Services not allocated -Income Income
Compensation of employees Compensation of employeesInvestment income Investment income
Direct investment Direct investment
Portfolio investment Portfolio investment
Other investment Other investment
Current transfers Current transfers
Public sector gross volumes decrease Public sectorPrivate sector imports decrease, net value increases Private sector
CAPITAL ACCOUNT CAPITAL ACCOUNTFINANCIAL ACCOUNT FINANCIAL ACCOUNT
Errors and omissions Errors and omissions
Austrian Balance of Payments
First Results: methodological effects2005 2006
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Oesterreichische National bank
Methodological effectsCURRENT ACCOUNT gross volumes decrease, net value increases CURRENT ACCOUNT
Goods imports increase, net value decreases GoodsServices gross volumes decrease, net value increases Services
Transportation imports increase, exports and net value decrease Transportationof which: Passenger transport exports decrease of which: Passenger transport
Sea transport Sea transport
Air transport exports decrease Air transport
Other transport imports increase Other transport
Travel imports decrease, net value increases TravelCommunication services Communication services
Construction services Construction services Construction abroad Construction abroad
Construction in the compiling economy Construction in the compiling economy
Insurance services gross volumes decrease Insurance servicesFinancial services gross volumes decrease Financial services
Computer and information services exports and net value increase Computer and information servicesRoyalties and licence fees Royalties and licence feesOther business services exports and net value increase Other business services
Merchanting Merchanting
Other trade related services Other trade related services
Operational leasing services Operational leasing services
Miscellaneous business, professional and technical services exports increase
Miscellaneous business, professional and technical services
Personal, cultural and recreational services imports increase, net value decreases
Personal, cultural and recreational services
Government services, n.i.e. exports and net value decrease Government services, n.i.e.
Services not allocated -Income Income
Compensation of employees Compensation of employeesInvestment income Investment income
Direct investment Direct investment
Portfolio investment Portfolio investment
Other investment Other investment
Current transfers Current transfers
Public sector gross volumes decrease Public sectorPrivate sector imports decrease, net value increases Private sector
CAPITAL ACCOUNT CAPITAL ACCOUNTFINANCIAL ACCOUNT FINANCIAL ACCOUNT
Errors and omissions Errors and omissions
Austrian Balance of Payments
First Results: methodological effects2005 2006
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Oesterreichische National bank
Methodological effectsCURRENT ACCOUNT gross volumes decrease, net value increases CURRENT ACCOUNT
Goods imports increase, net value decreases GoodsServices gross volumes decrease, net value increases Services
Transportation imports increase, exports and net value decrease Transportationof which: Passenger transport exports decrease of which: Passenger transport
Sea transport Sea transport
Air transport exports decrease Air transport
Other transport imports increase Other transport
Travel imports decrease, net value increases TravelCommunication services Communication services
Construction services Construction services Construction abroad Construction abroad
Construction in the compiling economy Construction in the compiling economy
Insurance services gross volumes decrease Insurance servicesFinancial services gross volumes decrease Financial services
Computer and information services exports and net value increase Computer and information servicesRoyalties and licence fees Royalties and licence feesOther business services exports and net value increase Other business services
Merchanting Merchanting
Other trade related services Other trade related services
Operational leasing services Operational leasing services
Miscellaneous business, professional and technical services exports increase
Miscellaneous business, professional and technical services
Personal, cultural and recreational services imports increase, net value decreases
Personal, cultural and recreational services
Government services, n.i.e. exports and net value decrease Government services, n.i.e.
Services not allocated -Income Income
Compensation of employees Compensation of employeesInvestment income Investment income
Direct investment Direct investment
Portfolio investment Portfolio investment
Other investment Other investment
Current transfers Current transfers
Public sector gross volumes decrease Public sectorPrivate sector imports decrease, net value increases Private sector
CAPITAL ACCOUNT CAPITAL ACCOUNTFINANCIAL ACCOUNT FINANCIAL ACCOUNT
Errors and omissions Errors and omissions
Austrian Balance of Payments
First Results: methodological effects2005 2006
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Oesterreichische National bank
Methodological effectsCURRENT ACCOUNT gross volumes decrease, net value increases CURRENT ACCOUNT
Goods imports increase, net value decreases GoodsServices gross volumes decrease, net value increases Services
Transportation imports increase, exports and net value decrease Transportationof which: Passenger transport exports decrease of which: Passenger transport
Sea transport Sea transport
Air transport exports decrease Air transport
Other transport imports increase Other transport
Travel imports decrease, net value increases TravelCommunication services Communication services
Construction services Construction services Construction abroad Construction abroad
Construction in the compiling economy Construction in the compiling economy
Insurance services gross volumes decrease Insurance servicesFinancial services gross volumes decrease Financial services
Computer and information services exports and net value increase Computer and information servicesRoyalties and licence fees Royalties and licence feesOther business services exports and net value increase Other business services
Merchanting Merchanting
Other trade related services Other trade related services
Operational leasing services Operational leasing services
Miscellaneous business, professional and technical services exports increase
Miscellaneous business, professional and technical services
Personal, cultural and recreational services imports increase, net value decreases
Personal, cultural and recreational services
Government services, n.i.e. exports and net value decrease Government services, n.i.e.
Services not allocated -Income Income
Compensation of employees Compensation of employeesInvestment income Investment income
Direct investment Direct investment
Portfolio investment Portfolio investment
Other investment Other investment
Current transfers Current transfers
Public sector gross volumes decrease Public sectorPrivate sector imports decrease, net value increases Private sector
CAPITAL ACCOUNT CAPITAL ACCOUNTFINANCIAL ACCOUNT FINANCIAL ACCOUNT
Errors and omissions Errors and omissions
Austrian Balance of Payments
First Results: methodological effects2005 2006
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Oesterreichische National bank
Methodological effectsCURRENT ACCOUNT gross volumes decrease, net value increases CURRENT ACCOUNT
Goods imports increase, net value decreases GoodsServices gross volumes decrease, net value increases Services
Transportation imports increase, exports and net value decrease Transportationof which: Passenger transport exports decrease of which: Passenger transport
Sea transport Sea transport
Air transport exports decrease Air transport
Other transport imports increase Other transport
Travel imports decrease, net value increases TravelCommunication services Communication services
Construction services Construction services Construction abroad Construction abroad
Construction in the compiling economy Construction in the compiling economy
Insurance services gross volumes decrease Insurance servicesFinancial services gross volumes decrease Financial services
Computer and information services exports and net value increase Computer and information servicesRoyalties and licence fees Royalties and licence feesOther business services exports and net value increase Other business services
Merchanting Merchanting
Other trade related services Other trade related services
Operational leasing services Operational leasing services
Miscellaneous business, professional and technical services exports increase
Miscellaneous business, professional and technical services
Personal, cultural and recreational services imports increase, net value decreases
Personal, cultural and recreational services
Government services, n.i.e. exports and net value decrease Government services, n.i.e.
Services not allocated -Income Income
Compensation of employees Compensation of employeesInvestment income Investment income
Direct investment Direct investment
Portfolio investment Portfolio investment
Other investment Other investment
Current transfers Current transfers
Public sector gross volumes decrease Public sectorPrivate sector imports decrease, net value increases Private sector
CAPITAL ACCOUNT CAPITAL ACCOUNTFINANCIAL ACCOUNT FINANCIAL ACCOUNT
Errors and omissions Errors and omissions
Austrian Balance of Payments
First Results: methodological effects2005 2006
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Oesterreichische National bank
Methodological effectsCURRENT ACCOUNT gross volumes decrease, net value increases CURRENT ACCOUNT
Goods imports increase, net value decreases GoodsServices gross volumes decrease, net value increases Services
Transportation imports increase, exports and net value decrease Transportationof which: Passenger transport exports decrease of which: Passenger transport
Sea transport Sea transport
Air transport exports decrease Air transport
Other transport imports increase Other transport
Travel imports decrease, net value increases TravelCommunication services Communication services
Construction services Construction services Construction abroad Construction abroad
Construction in the compiling economy Construction in the compiling economy
Insurance services gross volumes decrease Insurance servicesFinancial services gross volumes decrease Financial services
Computer and information services exports and net value increase Computer and information servicesRoyalties and licence fees Royalties and licence feesOther business services exports and net value increase Other business services
Merchanting Merchanting
Other trade related services Other trade related services
Operational leasing services Operational leasing services
Miscellaneous business, professional and technical services exports increase
Miscellaneous business, professional and technical services
Personal, cultural and recreational services imports increase, net value decreases
Personal, cultural and recreational services
Government services, n.i.e. exports and net value decrease Government services, n.i.e.
Services not allocated -Income Income
Compensation of employees Compensation of employeesInvestment income Investment income
Direct investment Direct investment
Portfolio investment Portfolio investment
Other investment Other investment
Current transfers Current transfers
Public sector gross volumes decrease Public sectorPrivate sector imports decrease, net value increases Private sector
CAPITAL ACCOUNT CAPITAL ACCOUNTFINANCIAL ACCOUNT FINANCIAL ACCOUNT
Errors and omissions Errors and omissions
Austrian Balance of Payments
First Results: methodological effects2005 2006
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Oesterreichische National bank
Methodological effectsCURRENT ACCOUNT gross volumes decrease, net value increases CURRENT ACCOUNT
Goods imports increase, net value decreases GoodsServices gross volumes decrease, net value increases Services
Transportation imports increase, exports and net value decrease Transportationof which: Passenger transport exports decrease of which: Passenger transport
Sea transport Sea transport
Air transport exports decrease Air transport
Other transport imports increase Other transport
Travel imports decrease, net value increases TravelCommunication services Communication services
Construction services Construction services Construction abroad Construction abroad
Construction in the compiling economy Construction in the compiling economy
Insurance services gross volumes decrease Insurance servicesFinancial services gross volumes decrease Financial services
Computer and information services exports and net value increase Computer and information servicesRoyalties and licence fees Royalties and licence feesOther business services exports and net value increase Other business services
Merchanting Merchanting
Other trade related services Other trade related services
Operational leasing services Operational leasing services
Miscellaneous business, professional and technical services exports increase
Miscellaneous business, professional and technical services
Personal, cultural and recreational services imports increase, net value decreases
Personal, cultural and recreational services
Government services, n.i.e. exports and net value decrease Government services, n.i.e.
Services not allocated -Income Income
Compensation of employees Compensation of employeesInvestment income Investment income
Direct investment Direct investment
Portfolio investment Portfolio investment
Other investment Other investment
Current transfers Current transfers
Public sector gross volumes decrease Public sectorPrivate sector imports decrease, net value increases Private sector
CAPITAL ACCOUNT CAPITAL ACCOUNTFINANCIAL ACCOUNT FINANCIAL ACCOUNT
Errors and omissions Errors and omissions
Austrian Balance of Payments
First Results: methodological effects2005 2006
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Oesterreichische National bank
First Results: structural findings
2003-2005 2006Credit Credit
1 Other business services + s.n.a. 36,0% 1 Travel 36,8%2 Travel 31,4% 2 Other business services 26,0%3 Transportation 19,1% 3 Transportation 22,8%4 Insurance services 3,8% 4 Communication services 3,0%5 Financial services 2,6% 5 Construction services 2,6%6 Construction services 2,3% 6 Insurance services 2,4%7 Communication services 1,7% 7 Computer and information services 2,2%8 Government Services, n.i.e. 1,6% 8 Financial services 1,7%9 Personal, cultural and recreational services 0,7% 9 Government Services, n.i.e. 1,1%10 Computer and information services 0,6% 10 Royalties and licence fees 0,9%11 Royalties and licence fees 0,4% 11 Personal, cultural and recreational services 0,5%
Ranking RankingServices Classification Services Classification
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Oesterreichische National bank
First Results: structural findings
2003-2005 2006Credit Credit
1 Other business services + s.n.a. 36,0% 1 Travel 36,8%2 Travel 31,4% 2 Other business services 26,0%3 Transportation 19,1% 3 Transportation 22,8%4 Insurance services 3,8% 4 Communication services 3,0%5 Financial services 2,6% 5 Construction services 2,6%6 Construction services 2,3% 6 Insurance services 2,4%7 Communication services 1,7% 7 Computer and information services 2,2%8 Government Services, n.i.e. 1,6% 8 Financial services 1,7%9 Personal, cultural and recreational services 0,7% 9 Government Services, n.i.e. 1,1%10 Computer and information services 0,6% 10 Royalties and licence fees 0,9%11 Royalties and licence fees 0,4% 11 Personal, cultural and recreational services 0,5%
Ranking RankingServices Classification Services Classification
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Oesterreichische National bank
First Results: structural findings
2003-2005 2006Credit Credit
1 Other business services + s.n.a. 36,0% 1 Travel 36,8%2 Travel 31,4% 2 Other business services 26,0%3 Transportation 19,1% 3 Transportation 22,8%4 Insurance services 3,8% 4 Communication services 3,0%5 Financial services 2,6% 5 Construction services 2,6%6 Construction services 2,3% 6 Insurance services 2,4%7 Communication services 1,7% 7 Computer and information services 2,2%8 Government Services, n.i.e. 1,6% 8 Financial services 1,7%9 Personal, cultural and recreational services 0,7% 9 Government Services, n.i.e. 1,1%10 Computer and information services 0,6% 10 Royalties and licence fees 0,9%11 Royalties and licence fees 0,4% 11 Personal, cultural and recreational services 0,5%
Ranking RankingServices Classification Services Classification
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Oesterreichische National bank
First Results: structural findings
2003-2005 2006Credit Credit
1 Other business services + s.n.a. 36,0% 1 Travel 36,8%2 Travel 31,4% 2 Other business services 26,0%3 Transportation 19,1% 3 Transportation 22,8%4 Insurance services 3,8% 4 Communication services 3,0%5 Financial services 2,6% 5 Construction services 2,6%6 Construction services 2,3% 6 Insurance services 2,4%7 Communication services 1,7% 7 Computer and information services 2,2%8 Government Services, n.i.e. 1,6% 8 Financial services 1,7%9 Personal, cultural and recreational services 0,7% 9 Government Services, n.i.e. 1,1%10 Computer and information services 0,6% 10 Royalties and licence fees 0,9%11 Royalties and licence fees 0,4% 11 Personal, cultural and recreational services 0,5%
Ranking RankingServices Classification Services Classification
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Oesterreichische National bank
First Results: structural findings
2003-2005 2006Credit Credit
1 Other business services + s.n.a. 36,0% 1 Travel 36,8%2 Travel 31,4% 2 Other business services 26,0%3 Transportation 19,1% 3 Transportation 22,8%4 Insurance services 3,8% 4 Communication services 3,0%5 Financial services 2,6% 5 Construction services 2,6%6 Construction services 2,3% 6 Insurance services 2,4%7 Communication services 1,7% 7 Computer and information services 2,2%8 Government Services, n.i.e. 1,6% 8 Financial services 1,7%9 Personal, cultural and recreational services 0,7% 9 Government Services, n.i.e. 1,1%10 Computer and information services 0,6% 10 Royalties and licence fees 0,9%11 Royalties and licence fees 0,4% 11 Personal, cultural and recreational services 0,5%
Ranking RankingServices Classification Services Classification
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Oesterreichische National bank
First Results: structural findings
2003-2005 2006Credit Credit
1 Other business services + s.n.a. 36,0% 1 Travel 36,8%2 Travel 31,4% 2 Other business services 26,0%3 Transportation 19,1% 3 Transportation 22,8%4 Insurance services 3,8% 4 Communication services 3,0%5 Financial services 2,6% 5 Construction services 2,6%6 Construction services 2,3% 6 Insurance services 2,4%7 Communication services 1,7% 7 Computer and information services 2,2%8 Government Services, n.i.e. 1,6% 8 Financial services 1,7%9 Personal, cultural and recreational services 0,7% 9 Government Services, n.i.e. 1,1%10 Computer and information services 0,6% 10 Royalties and licence fees 0,9%11 Royalties and licence fees 0,4% 11 Personal, cultural and recreational services 0,5%
Ranking RankingServices Classification Services Classification
36
Oesterreichische National bank
• A new balance of payments system: motivation and concepts
• Cooperation with Statistics Austria
• New survey on trade in services
• First results
• Future Outlook
37
Oesterreichische National bank
• Step wise recalculation of historic data back to 1995 (forthcoming year end 2007)
• Revision of the reporting population for the survey on trade in services
– Recurrent concentration survey on the basis of Austria‘s structural business survey
– Cooperation with the Statistics Department of the Austrian Chamber of Commerce
• Step wise realization of FATS
• Connection of trade in services data with structural business statistics
• Survey among households on imports of services
Future outlook