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5331.0 - Balance of Payments and International Investment Position, Australia, Concepts, Sources and Methods, 1998  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 22/09/1998   
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Contents >> Appendix 1. Data sources used in the compilation of balance of payments components

This appendix shows the data sources used in the compilation of balance of payments components, including components of, and data models for, the international investment position. The data source is from the ABS, unless specifically attributed to other departments or agencies.


Source
Description
Balance of payments components

International Trade Statistics
    International Trade Statistics (ITS)

      ITS measure the quantity and value of movable goods which cross the national frontier. Entries are submitted to the Australian Customs Service. Data are electronically passed to the ABS for compilation of ITS.

      ITS are published in ABS publications, e.g. quarterly International Merchandise Trade, (Cat. no. 5422.0).

      Data are available in time for the monthly publications International Merchandise Imports, (Cat. no. 5439.0) and International Trade in Goods and Services, (Cat. no. 5368.0).
    Goods:
    General merchandise
    Goods for processing
    Repairs on goods
    Goods procured in ports (credits)
    Non-monetary gold

    Services:
    Transportation

    Data models:

    Insurance
    Defence finance


ABS International Business Surveys
    1) Survey of International
    Trade in Services (SITS)
      Quarterly and annual surveys (sample and partial coverage) which collect data on exports and imports of services, sales and purchases of non-produced, non-financial assets, repairs (other than maintenance while in port) on ships and aircraft, goods procured in foreign ports by resident transport operators, and goods acquired in Australian ports by foreign airlines.

      Data are generally available three months after the end of the period for quarterly surveys and six months for annual surveys, although for some components results are more timely.
    Goods:
    Goods procured in port
    Repairs on goods
    Merchanting adjustment to goods debits

    Services:
    Transportation services
    Travel
    Communications services
    Construction services
    Insurance services
    Financial services
    Computer and information services
    Royalties and licence fees
    Other business services
    Personal, cultural and recreational services

    Capital transactions:
    Non-produced, non-financial assets

    Data models:
    Travel by Australian residents
    Travel by foreign residents
    Insurance
    Financial services

    2) Survey of International Investment (SII)

      Quarterly and annual survey which primarily collects data on financial transactions, investment position and other changes in position (for inclusion in financial accounts and international investment position) and investment income; until 1995-96 data were collected on withholding taxes paid abroad (current transfers debit). The Reserve Bank provides data on gold custody activity to provide measures of non-monetary gold purchases and sales (goods).

    Goods:

    Non-monetary gold

    Income:
    Investment Income

    Current transfers:
    Other transfers debit

    Financial account and international investment position:
    All components

    Data models:
    Accrued income on debt securities
    Portfolio investment in equity liabilities
    Portfolio investment in debt securities liabilities
    3) Survey of Principal Transport Enterprises (SPTE)
      The SPTE provides information on anticipated and actual purchases and sales as well as financial and operational lease transactions involving ships, aircraft and satellites. Data are collected from major transport companies and, where necessary, telecommunications companies.
    Goods:
    General merchandise (timing adjustment)
    4) Survey of Inbound Tour Operators (SITO)
      The SITO has provided data for 1992-93 to 1995-96 on the Australian content of pre-paid package tours by non-resident travellers.

      Results from the survey are released in Inbound Tour Operators, Australia, (Cat. no. 8690.0).
    Data model:
    Travel by foreign residents
    5) Economic Activity Survey (EAS)
      EAS provides data, from 1996-97, on the Australian element of pre-paid package tours by non-resident travellers. EAS also provides data on the implicit commission earnings by resident foreign exchange dealers.
    Data models:
    Travel by foreign residents
    Foreign exchange fees


Collections from Households and Individuals
    1) Overseas Arrivals and
    Departures (OAD)
      OAD statistics are collected by the Department of Immigration and Multicultural Affairs (DIMA) to measure the number of Australian and non-resident persons entering and leaving Australia.

      The ABS publishes OAD statistics in Overseas Arrivals and Departures, Australia, (Cat. nos 3401.0, 3402.0 and 3404.0). OAD data can also be found in the DIMA publication Immigration Update. OAD statistics are available approximately 6 weeks after the reference month.
    Data models:
    Travel by foreign residents
    Travel by Australian residents
    Migrants' transfers
    2) International Visitor Survey (IVS)
    (AC Nielsen McNair on behalf of the Bureau of Tourism Research (BTR))
      The IVS is conducted quarterly and collects information from short-term visitors (those with a length of stay less than one year) to Australia, immediately prior to their departure. Data collected, inter alia, include travel expenditure, earnings from employment and other information to adjust passenger fare data.

      The BTR publishes the results of the IVS in its publication 'International Visitor Survey'. Quarterly data are available about five months after the reference quarter.
    Data model:
    Travel by foreign residents
    3) Survey Of Returned Australian Travellers (SORAT)
      An ABS collection which obtains information from Australian travellers and persons working abroad for short periods, after they return from abroad, about their expenditure and earnings abroad as well as the sources of funds for financing their trip.

      SORAT is a four yearly survey and information is available about 12 months after the reference year.
    Data model:
    Travel by Australian residents
    4) Survey of International Students (SIS)
    (Roy Morgan Research Centre for the Department of Education, Training and Youth Affairs (DETYA))
      Survey conducted in 1991-92 and 1996-97. It collected data from foreign students in Australia about weekly expenditure on goods and services, sources of finance, etc. Data on foreign students' expenditure are published in the DETYA publication 'Overseas Students Statistics'. Data are available about 12 months after the reference period.
    Data model:
    Foreign students in Australia


Other Official Sources
    1) Commonwealth Government Transactions (Ledgers)
    (Department of Finance)
      The Ledgers contain itemised data about Australian Government expenditures and receipts. Data extracted include expenditure by embassies, consulates and military establishments abroad, salaries paid to Australian staff abroad, salaries paid to locally engaged staff abroad, foreign aid payments, loan flotation expenses and interest paid on Australian Government debt abroad, interest receipts on Military Sales Account held in the United States, and withholding tax receipts.
    Services:
    Financial services debits
    Government services n.i.e. debits

    Income:
    Compensation of employees debits

    Current transfers:
    General government

    Capital transfers;
    General government debits

    Data models:
    Accrued income on debt securities
    Defence finance
    2) Foreign Student
    Statistics
    (Department of Education, Training and Youth Affairs) (DETYA)
      DETYA assembles annual calendar year data on the numbers of foreign visaed and New Zealand students studying in Australia by course type, and average fees paid by them by course type. Preliminary data are available within one month of end of year and final data within five months.
    Data model:
    Foreign students in Australia
    3) Budget Papers
    (State Government)
      The budget papers contain information on expenditures abroad for State Government Agents-General etc. Data are available annually with a lag of about 4 months.
    Services:
    Government services n.i.e debits
    4) Business Skills Category (BSC) information
    (Department of Immigration and Multicultural Affairs) (DIMA)
      Details about the number of immigrants entering Australia under the BSC are provided to the ABS by DIMA on a quarterly basis.
    Data model:
    Migrants' transfers credits
    5) Diplomatic and consular staff in Australia
    (Department of Foreign Affairs and Trade (DFAT) advice)
      The advice provides information on the number of diplomatic and consular staff in Australia by country. Data are available quarterly with a lag of about 2 months.
    Data model:
    Foreign embassy expenditure
    6) Bases in Australia
    (Defence Department
    advices)
      Details about expenditure of United States and United Kingdom governments at Pine Gap, Nurrungar and the North West Cape are supplied directly by the Department of Defence on a quarterly basis approximately three months after the reference quarter.

      Details about expenditure by the Republic of Singapore Air Force on their training facilities in Western Australia are supplied on a quarterly basis directly from the WA facility, two to three months after the reference quarter.
    Services:
    Government services n.i.e credits
    7) Visiting military personnel
    (Defence Department advice)
      Details about military personnel or visiting military ships are provided by the Department of Defence on a quarterly basis, approximately three months after the end of the quarter.
    Data model:
    Travel by foreign residents
    8) Military equipment imports
    (Defence Department advice)
      The Department provides data on imports of military equipment as required.
    Goods:
    General merchandise (timing adjustment)

    Data model:
    Defence finance

    9) Survey of Insurance Companies and Agents

    (Australian Prudential Regulation Authority (APRA))

      The Survey collects, inter alia, insurance data on premium revenue and claims payable, investment income and commissions for direct and reinsurance business (by Australian insurance companies and agents) in respect of business received from non-resident or placed with non-resident insurance companies.


    Data model:

    Insurance
    10) Reserve Bank Bulletin
    (Table F8 on Foreign Exchange Turnover)
      Table F8 provides data on foreign exchange spot turnover classified by foreign exchange dealers in Australia, banks overseas and customers.
    Data model:
    Foreign exchange fees
    11) Withholding Tax
    (Australian Taxation Office)
      Annual data reported on withholding taxes on insurance and freight paid by non-residents. Annual data are provided with a lag of six months.
    Current transfers:
    General government credits
    12) Veterans Affairs and Social Security Pensions
    (Commonwealth Government Budget Papers)
      Budget papers provide data on services paid abroad to former Australian residents. Data available by end of financial year.
    Current transfers:
    General government debits
    13) Veterans Pensions Paid to Australian Residents
    (Department of Veterans Affairs)
      Half yearly advice on pensions paid to former New Zealand servicemen now residents of Australia. Available within three months of reference half year.
    Current transfers:
    Other transfers credits
    14) Contributions to International Development Finance Institutions (IDFIs)
    (Treasury advice)
      Monthly data are supplied on contributions to IDFIs.
    Current transfers:
    General government debits


Miscellaneous Data Sources
    1) Survey of Foreign Unrequited Transfers
    (SOFUT)
      Partial coverage monthly survey of the major banks collecting data on private cash transfers to and from abroad
    Current transfers:
    Other transfers

    Data model:
    Migrants' transfers

    2) Consumer Price Index (CPI)

      The CPI measures quarterly changes in the price of a 'basket' of goods and services purchased by all metropolitan households. It is used in some data models for projection purposes. Data are available from Consumer Price Index, (Cat. no. 6401.0).


    Data models:

    Foreign students in Australia
    Foreign embassy expenditure
    3) Servicemen's Expenditure
    (United States Navy advice)
      Irregular advice on expenditure by United States servicemen on relaxation and recreation leave while visiting Australia.
    Data model:
    Travel by foreign residents
    4) Australian Stock Exchange
      The Australian Stock Exchange Datadisk and Journal are used to estimate market valuations of individual shares as part of the data model for portfolio investment in equities.
    Data model:
    Portfolio investment in equity liabilities
    5) Debt Securities Issued in Australia (DSIA)
      DSIA provides data on (i) the ratio of market to face value of Commonwealth and State Government debt securities, and (ii) weighted income yields for Commonwealth Government, State Government and Other Sector debt securities.
    Data models:
    Accrued income on debt securities
    Portfolio investment in debt securities liabilities

    6) International Bond Yields

    (Organisation for Economic Cooperation
    and Development (OECD))

      Data are published on bond yields in the OECD publication 'Financial Statistics Monthly'. Appropriately weighted international bond yields are then applied to the average stock of debt (reported at market values) in the Survey of International Investment to estimate income accrued on long-term debt securities issued abroad by residents and non-residents.

    Data model:

    Accrued income on debt securities







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