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Show/Hide section   BP6 - Balance of Payments and International Investment Position (BPM6)

 
ADMINISTRATIVE INFORMATION
  Title BP6 - Balance of Payments and International Investment Position (BPM6)
  Data source National Central Banks and/or National Statistics Offices, ECB and Eurostat
  Contact email address Statistical Information Request form
 
LEGAL AND INSTITUTIONAL ENVIRONMENT
  Legal acts and other agreements National b.o.p. and i.i.p. statistics are collected in the context of Guideline ECB/2011/23 of 9 December 2011 (as amended)
 
SCOPE
  Data presentation - Summary description The dataset contains the balance of payments (b.o.p.) and the international investment position (i.i.p.) of the euro area compiled by the ECB, as well as European union aggregates compiled by Eurostat and individual EU country data. The b.o.p. is a statistical statement that summarises, for a specific period of time, the economic transactions of an economy with the rest of the world. The different accounts within the b.o.p. are distinguished according to the nature of the economic resources (e.g. goods, services, income or financial resources) provided and received. The i.i.p. is a statistical statement that shows, at a specific point in time, the value and composition of financial assets of residents of an economy that are claims on non-residents and gold bullion held as reserve assets and liabilities of residents of an economy to non-residents; The current account and capital account main components are broken down by counterpart countries. Financial transactions and positions are presented by type of investment, resident and counterpart sector, type of instrument and country of residency of the counterpart
  Data presentation - Detailed description Detailed documentation on b.o.p/i.i.p. can be found on the ECB website
 
METHODOLOGICAL INFORMATION
  Time period Monthly and quarterly b.o.p and quarterly i.i.p.
 
STATISTICAL PROCESSING
  Adjustment Non-adjusted as well as seasonally and working day adjusted
  Data validation Data sent to and disseminated by the ECB have to respect a set of validation rules: (i) time consistency (monthly data summed up should be equal to data reported on a quarterly basis); (ii) geographical breakdown: i.e. intra and extra euro area transactions should sum up to transactions vis-à-vis rest of the world; (iii) reference sector: total economy should be consistent with the sum of the subsectors (S121, S12T, S13, S1P); iv) counterpart sector: follows the same intuition as the reference sector type; v) stock/flow reconciliation: stocks, transactions and other flows are interlinked: stock in period t is equal to stock in period t-1 plus transactions in period t plus other flows in period t; vi) accounting item: i.e. balance should be equal to credit minus debit etc.; vii) international accounts item: i.e. current account is equal to the sum of its components (goods, services, primary and secondary income); viii) functional category: total (financial account) is equal to direct, portfolio, other investment, financial derivatives and reserve assets. ix) maturity classification: i.e. long term and short term add up to all original maturities; and x) currency classification: i.e. for debt securities the currency breakdown of debt securities adds up to the total;
  Data revision - policy Revisions to national data and euro area aggregates follow a pre-defined practice. Quarterly data are more extensively revised when data for the second and fourth quarters are first published; monthly data are kept consistent with quarterly data, hence revised in line with the availability/review of quarterly data.
 
QUALITY
  Quality management - quality assurance Memorandum of Understanding between Eurostat and the European Central Bank/Directorate General Statistics on the quality assurance of statistics underlying the Macroeconomic Imbalances Procedure
  Quality documentation 2017 Quality Report (June 2018)
  Timeliness The monthly data are published around 7 weeks after the end of the reference month, whereas the quarterly data are published 3 months after the reference quarter (see the ECB publication calendar)
 
DISSEMINATION
  Release policy - release calendar ECB Statistical release calendar:https://www.ecb.europa.eu/press/calendars/statscal/html/index.en.html
  Dissemination format - other formats Monthly Bulletin, ECB website, Press Releases
  Documentation on methodology  BPM6 Manual,BPM6 compilation Guide,European Union Balance of Payments and International Investment Position statistical sources and methods 
 
MISCELLANEOUS
  Metadata last update 28/NOV/2018 09:49:53

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