BPM6 Compilation Guide

Working Party on International Trade in Goods and Trade in Services Statistics

Paris, France

November 7–9, 2011

Outline

Current Status

Overview of Drafted Chapters

Coordination with the Services Compilation Guide

BPM6 CG Timetable

Current Status (1/2)

The BPM6 CG will consist of 17 chapters and 2 appendices

8 chapters and 2 appendices have been drafted and sent to the members of the IMF Committee on Balance of Payments Statistics (Committee) for review

The twenty-fourth meeting of the Committee took place during October 24–26, 2011 in Moscow

Many of the most complex or anticipated chapters were among those drafted first (e.g., exceptional financing; insurance transactions and positions; services)

Current Status (2/2)

BPM6 CG website established in late 2010

Includes country implementation plans (Chile, Russian Federation), conversion matrix, as well as related materialWill be updated with relevant 2011 Committee papers

STA will post material on new IMF BPM6 CG website for worldwide comments

Overview of Drafted Chapters (1/4)

Chapter 2: How to Conduct a Survey

Chapter 4: International Transactions Reporting System

Chapter 5: International Merchandise Trade Statistics

Chapter 11: Goods

Chapter 12: Services

Chapter 13: Primary Income

Chapter 16: Exceptional Financing

Chapter 17: The Accessibility and Serviceability of the Statistics

Appendix II: Insurance Transactions and Positions

Appendix VI: Linkages with Other Macroeconomic Datasets

Overview of Drafted Chapters (2/4)Chapter 2: How to Conduct a Survey

discusses the procedures of organizing and conducting a surveydrafted drawing from the CDIS Guide

Chapter 4: International Transactions Reporting System

describes the ITRS and the uses of the data from the ITRS in compiling international accounts

Chapter 5: International Merchandise Trade Statistics

Examines IMTS and reviews the differences between the concepts used in IMTS and BPM6

Chapter 11: Goods

describes how data on goods transactions could be obtained from different data sources and used to compile estimates on a BPM6 basis

Overview of Drafted Chapters (3/4)

Chapter 12: Services

describes the compilation of services components excepts for insurance and FISIM which are presented in separate appendixes

Chapter 13: Primary Income

examines data sources and compilation techniques of primary income with emphasis on borderline issues

Chapter 16: Exceptional Financing

discusses the rearrangement or splitting of the balance of payments items in the analytical presentation and reviews the exceptional financing transactionsdrafted drawing from Appendixes 1 and 2 of the BPM6

Overview of Drafted Chapters (4/4)Chapter 17: The Accessibility and Serviceability of the Statistics

addresses quality issues relating to dimensions 4 (serviceability) and 5 (accessibility) of the IMF Data Quality Assessment Framework

Appendix II: Insurance Transactions and Positions

reviews the treatment of the various transactions relating to insurance, by type of insurance

Appendix VI: Linkages with Other Macroeconomic Datasets

will include three sub-chapters dedicated to national accounts, monetary and financial statistics, and government finance statisticssub-chapter dedicated to national accounts has been drafted

Coordination with the Services Compilation Guide (1/2)

BPM6 CG provides guidance on data sources and compilation techniques for all BOP and IIP accounts. Regarding services account, BPM6 CG includes one chapter on services, two appendixes on insurance and FISIM, and a number of model forms dedicated to collecting data on services for the BOP needs

The chapter on services together with two appendices on insurances and FISIM describe data sources (e.g., ITRS, IMTS, enterprise surveys, and administrative sources) and compilation procedures for all types of services

Coordination with the Services Compilation Guide (2/2)

Particular emphasis in BPM6 CG will be on borderline cases such as:

travel versus compensation of employees; charge for use of intellectual property versus income or capital account transactions; construction services versus foreign direct investment; manufacturing services on physical inputs owned by others versus trade in goods

Coordination with the Services CG is important

As the BPM6 CG will discuss methods of collecting source data (ITRS, surveys, etc.), the Services CG could cross reference the BPM6 CG rather than include similar detailed information on this same topic

BPM6 CG TimetableActivity Target Date

First set of key draft chapters September/October 2010Develop BPM6 CG website•Post BPM6 Implementation plans•Post chapters as they become available

September 2010 (completed)Starting October 2011

Worldwide consultation on first set of chapters Starting October 2011, with the deadline for comments on each chapter eight weeks after the posting

Revise first set of chapters January-February 2012

Second set of draft chapters disseminated to BOPCOM members and posted on the IMF website for comments

March 2012

Worldwide consultation on second set of chapters March-May 2012

Revise second set of chapters June-July 2012Final editing of all chapters August-September 2012BPM6 Compilation Guide presented to BOPCOM October 2012Pre-publication draft of the BPM6 Compilation Guide on the IMF website

December 2012