The Balance of Payments (BoP) systematically summarizes all economic transactions between the residents and the non-residents of a country or of a geographical region during a given period.
The Balance of payments provides harmonized information on international transactions which are part of the current account (goods, services, income, current transfers), but also on transactions which fall in the capital and the financial account.
BoP is an important macro-economic indicator used to assess the position of an economy (of credit or debit) towards the external world. Data on International Trade in Services, a component of BoP current account, and data on Foreign Direct Investment, a component of BoP financial account, are used to monitor the external commercial performance of different economies. Outward Foreign Affiliates Statistics (FATS) measure the commercial presence, as defined by the General Agreement on Trade in Services (GATS), through affiliates in foreign markets.
Balance of Payments data are used for calculation of indicatorsÂ needed forÂ monitoring of macroenomic imbalances such as share of main BoP and International Investment Position (IIP) items in GDP and export market sharesÂ calculated as the EU Member States' shares in total world exports.Â
Out of BoP data, some indicators of EU market integrationÂ are also derived.
Data are in millions of Euro/ECU or in millions of national currency.
Balance of Payments data coverage varies according to the collection. Some collections refer only to Euro area or EU countries, while some others' coverage includes also EU partner countries. Â Several statistical adjustments are applied to the original data provided by the Member States. These are described in the International Trade in Services EU 1992-2001 - Compilation guide 2003. The International Monetary Fund Balance of Payments Manual (BPM5) classification is used for the compilation of the BoP.
The BoP data are collected through national surveys and administrative sources. Â Â More information on BoP is available for each specific collection: Quarterly BoP, ITS, FDI, Outward FATS, BoP of EU Institutions.