Embed Size (px)
Citation preview
Implications of globalisation for
economic statistics
Trade measurement issues
Art RidgewayBalance of Payments Division
July 2007
Balance of Payments DivisionStatistics Canada
2
Outline
• Trade – Ownership & Physical Flows
• Organization of Production
• Economic data for supply chains
Balance of Payments DivisionStatistics Canada
3
Goods Trade – The New World
• Goods for Processing– Cross border flow ≠ Ownership change
• Goods vs. services• Valuation of flows• Consistency with banking
• Merchanting – Ownership change without cross border flow
• Inventories are outside country of owner• Banking flows with no imports or exports
Balance of Payments DivisionStatistics Canada
4
Goods for Processing
Finished Goods
Cash = value of service
Service included in Finished Goods
Goods for processingCompany A Company B
Canada United States
Finished Goods
Cash = value of service
Processing Service
Goods for processingCompany A Company B
Canada United States
Current Treatment
Forthcoming Convention
Balance of Payments DivisionStatistics Canada
5
Merchanting
Merchanting(International Wholesaler)
Inventories
CustomerSupplier
Country A
Country B Country C
Balance of Payments DivisionStatistics Canada
6
Traditional View of Goods Production
Manufacturing establishment
InventoriesMaterials Finished Goods
Head Office(Finance, Development, Marketing)
(Ancillary)
Component Supplier
Final Market
Balance of Payments DivisionStatistics Canada
7
Outsourcing Production for Export market – Economic Flows
Head Office(Finance, Development, Marketing)
InventoriesMaterials Finished Goods
ProcessorComponent Supplier
Final Market
Balance of Payments DivisionStatistics Canada
8
Data Challenges
• Taking the four economies in turn look at data needs for each case– Customs data– Production surveys
• establishments - local units
– Financial surveys • enterprises
– Trade in services
Balance of Payments DivisionStatistics Canada
9
Economy I
Econ III
Econ IV
Econ I Econ II
Head Office(Finance, Development, Marketing)
InventoriesMaterials Finished Goods
ProcessorComponent Supplier
Final Market
Balance of Payments DivisionStatistics Canada
10
Economy III
Econ III
Econ IV
Econ I Econ II
Head Office(Finance, Development, Marketing)
InventoriesMaterials Finished Goods
ProcessorComponent Supplier
Final Market
Balance of Payments DivisionStatistics Canada
11
Economy II
Econ III
Econ IV
Econ I Econ II
Head Office(Finance, Development, Marketing)
InventoriesMaterials Finished Goods
ProcessorComponent Supplier
Final Market
Balance of Payments DivisionStatistics Canada
12
Economy IV
Econ III
Econ IV
Econ I Econ II
Head Office(Finance, Development, Marketing)
InventoriesMaterials Finished Goods
ProcessorComponent Supplier
Final Market
Balance of Payments DivisionStatistics Canada
13
Data Source Research
• Customs data– Additional use of information on customs
forms
• Production surveys– Questions on outsourcing or off shoring– Inventories within and outside the country
• Trade in Services– Better data on processing and merchanting
Balance of Payments DivisionStatistics Canada
14
Data Integration
• Improved coordination of estimates for– Goods trade– Services trade– Production
• Improved integration in building– National Accounts– Balance of Payments
