Services Transactions Between Residents and Non-residents A. Introduction 3.1.
The present chapter describes in detail the
measurement of international trade in services in the
conventional balance of payments sense of transactions
between residents and non-residents of an economy. It
sets out the principles underlying the recording of such
trade. It discusses the concept of residence and its
practical application, valuation of transactions, and other
principles relating to recording of transactions. It then
describes the Extended Balance of Payments Services
Classification, the treatment of transactions between
related parties, and the recording of trade by trading
