2. FATS: combination of benchmark census and annual survey.
FATS statistics adopts the method of combining benchmark census with annual/quarterly survey.
Since 1977, the United States began a continuous FATS statistics, the main content is to survey the domestic foreign-invested enterprises and the domestic parent companies of foreign-invested subsidiaries, then aggregate the domestic and foreign service transaction data of the foreign-invested enterprises in the US and domestic enterprises that make investment overseas which are absolutely controlled by foreign investors (i.e. shareholder contribution or shareholding ratio is more than 50%).
Benchmark census is conducted every five years, and annual surveys are conducted in non-benchmark census years.
III. International Experience of Statistics on Trade in Services
2. Foreign Affiliates Statistics (FATS): combination of benchmark census and annual survey.
Inward FATS survey: Foreign affiliates in the United States submit the information of direct investment owners and ultimate beneficial owners, and classify them by country according to the ultimate beneficial owners.
Outward FATS survey: The U.S. parent companies is responsible for the basic information submission of their foreign affiliates, including the affiliate name, business address, major business,etc. What's more, the specific data of the financial and operating conditions of the affiliates should also be submitted in detail.
III. International Experience of Statistics on Trade in Services
3. Data sources of U.S. statistics on trade in services
The data sources of U.S. statistics on trade in services are divided into three main categories: survey data, management data and other data sources :
Survey data usually include BEA survey data, BEA direct investment and service survey, BEA affiliate remittance survey and U.S. Department of the Treasury survey data, as well as survey data of U.S National Travel and Tourism Office (NTTO), International Trade Administration, U.S. Census Bureau, Department of Labor, Department of Agriculture, Department of Education and Institute of International Education (IIE).
Management data mainly comes from the U.S. Census Bureau, the US Department of Homeland Security, the US State Department visa statistics, the Federal Reserve Board (FRB), Federal Reserve Bank of New York (FRBNY), International Monetary Fund (IMF), U.S. Agency for International Development, U.S. Army Corps of Engineers, U.S. Postal Service, U.S. Department of The Treasury and other departments.
