(v) International Experience of Statistics on Trade in Services 1. Establish a legal system of statistics on trade in services
The International Investment and Trade in Services Survey promulgated by the United States in 1985 and the Paperwork Reduction Act in 1995 ensure that the Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce can timely and accurately collect statistical data of trade in services.
Germany's Statistics Law in Service Industry (December 2000), Revision of Statistics Law in Service Industry (June 2005), Federal Statistics Law (January 1987) and Law of Statistical Survey on Prosperity of Specific Service Industries regulate the statistical work of trade in services.
III. International Experience of Statistics on Trade in Services
(v) International Experience of Statistics on Trade in Services 2. Adopt diversified data collection methods
In terms of collecting data on trade in services, developed countries have transferred from relying mainly on the ITRS in the past to a mixed method based on census and survey, supplemented by the ITRS.
Many countries, such as the United States, Britain, Finland, Denmark, Sweden, Australia, Belgium and Spain, basically depend on enterprise survey systems instead of ITRS system.
Other methods, e.g. extrapolation by estimation, obtaining data from relevant government authorities, obtaining bilateral data by exchanging data with other countries and obtaining data by purchasing.
III. International Experience of Statistics on Trade in Services
(v) International Experience of Statistics on Trade in Services Advantages and limitations of ITRS
Advantage
Limitations
- Timeliness and high frequency, which are conducive to data compilation - Detailed (new reporting entities can be easily covered) - Stable number of respondents (banks can report on behalf of their customers) - Easy data reporting and compilation - Regular mandatory reporting
- Simplification or exemption of data may affect the statistical accuracy - Transactions can only be counted through the settlement system - May lead to wrong classification of service items, especially some sub-items in EBOPS 2010 project - Geographical distribution may be skewed (that is, difficult to distinguish settlement countries from transaction countries) - Difficulty in data management, with the increase of cross-border transactions and internal settlement of companies
