New manuals 2014 Effects on trade in goods and services
14
New manuals 2014 Effects on trade in goods and services Auður Ólína Svavarsdóttir Nordic meeting, Faroe Islands, 16-18 September 2014
description
New manuals 2014 Effects on trade in goods and services. Auður Ólína Svavarsdóttir Nordic meeting , Faroe Islands , 16-18 September 2014. Trade in goods. IMTS 2010 One major change : - PowerPoint PPT Presentation
Transcript of New manuals 2014 Effects on trade in goods and services
New manuals 2014
Effects on trade in goods and services
Auður Ólína SvavarsdóttirNordic meeting, Faroe Islands,
16-18 September 2014
Trade in goods• IMTS 2010• One major change:
1.32. Bunkers, stores, ballast and dunnage that are acquired by national aircraft and vessels outside the economic territory of the compiling country … are in the scope of IMTS 2010 for imports and should be recorded where economically or environmentally significant.
• Purchaces of fuels outside IS has been collected in the trade in services questionnaire and previously included in trade in services (!)
• Other changes have less impact – include in September 2015
Trade in goods (cont.)Effect 2013ISK Billion
Exports Imports Balance
Trade in goods before
610.7 541.4 69.3 = 100.0
+ fuels 29.1
= Trade in goods after
610.7 570.5 40.2 = 58% of before
Trade in services
• MSITS 2010• + FISIM• + Manufacturing services on physical imputs
owned by others• - Merchanting• - Fuels purchased abroad by domestic ships and
aircrafts
Trade in services (cont.)Effect 2013 Billion ISK Exports Import Balance
Trade in services before 433.8 358.0 75.8
+ FISIM 11.9 6.0
+ Manufacturing services on physical inputs owned by others
50.5
- Merchanting 13.4
- Fuels purchased aboad by domestic ships and aircrafts
29.1
= Trade in services after 482.8 334.9 147.9 = +95.1% more than before
Trade in goods in BOP
Trade in goods published by Statistics Iceland+ Smuglery- Goods for processing, no change in ownership- Returned goods- Non-monetary gold
= General merhcandise on a BOP basis
Trade in goods in BOP (cont.)
Goods =General merchandise on a BOP basis+ Merchanting+ Non monetary gold
Trade in goods in BOP (cont.)Effect 2013 Exports Imports Balance
Trade of goods published by Statistics Iceland
610.7 570.5 40.2
+ Smuglery 2.1
- Goods for processing without change in ownership
62.4 17.0
- Returned goods 0.7 2.7
- Non-monetary gold 0.0 0.0
= General merchandise on a BOP basis
547.6 552.8 -5.3
Trade in goods in BOP (cont.)Effects 2013 Billion ISK Exports Imports Balance
Goods 561.0 552.8 8.1
General merchandise on BOP basis
547.6 552.8 -5.3
+ Merchanting 13.4
+ Non-monetary gold 0.0 0.0
Trade in goods and services
Trade in goods and services before
1,044.4 899.4 145.0
Trade in goods and services after
1,043.7 887.7 156.0 = + 7.6%
Exports of goods and services, before and after (billion ISK)
.
2007 2008 2009 2010 2011 2012 20130.0
100.0
200.0
300.0
400.0
500.0
600.0
700.0
Exports of goods fob, before Exports of goods in BOP (after)Exports of services, before Exports of services, after
Balance of trade in goods and services, before and after (billion ISK)
.
2007 2008 2009 2010 2011 2012 2013-150.0
-100.0
-50.0
0.0
50.0
100.0
150.0
200.0
Balance of trade in goods beforeBalance of trade in goods in BOP (after)Balance of trade in services beforeBalance of trade in services after
Response from users
Economic forecast unit at the CBQuote:„We are devastated!“
Thank you!
Questions?
