NAME OF ORGANISATION
Australian Bureau of Statistics (ABS)
The Survey of Finance and Insurance Foreign Affiliate Trade in Services is a one-off user funded survey that collects information about the delivery of goods and services through finance and insurance foreign affiliates of Australian enterprises. The SOFI FATS measures the following:
- Descriptive information about the affiliate;
- Purchases and sales of explicit financial services;
- Purchases of other services;
- Sales of other services;
- Purchases of goods;
- Sales of goods;
- Data items to model FISIM;
- Data items to model insurance service charges;
- Data items to calculate value added;
These data are classified by industry, institutional sector, and country of location of the foreign affiliate. The SOFI FATS also collects information on related party trade.
International trade in goods and services and international investment statistics will be used in conjunction with these statistics by the Department of Foreign Affairs and Trade, in forthcoming trade negotiation rounds for the General Agreement in Trade in Services (GATS) and Free Trade Agreements (FTA). This data will also enable DFAT to monitor existing FTAs.
The data will assist Commonwealth and State government policy makers and advisers, industry bodies, researchers and economists. Internationally the data will contribute to foreign affilaite trade statistics produced by the OECD, Eurostat and the World Trade Organisation (WTO).
The target population of SOFI FATS comprises all Australian owned finance and insurance foreign affiliates.
By definition, SOFI FATS excludes enterprises engaging in public administration and defence, and private households employing persons (ANZSIC Division M and sub-division 97).
· Australian and New Zealand Standard Industrial Classification (ANZSIC)
The conceptual framework used in compiling foreign affiliates trade in services statistics is provided by the Manual of Statistics of International Trade in Services 2002 (United Nations, European Commission, International Monetary Fund, Organisation for Economic Co-operation and Development, World Trade Organisation). This framework conforms with the System of National Accounts 2008 and the sixth edition of the Balance of Payments and International Investment Position Manual.
SOFI FATS will produce statistics on outward finance and insurance foreign affiliates trade that will be published as feature articles in:
International Trade in Goods and Services, Australia (ABS cat. no. 5368.0)
Balance of Payments and International Investment Position, Australia (ABS cat. no. 5302.0)
and will also be published in a new product:
Australian Outward Finance and Insurance Foreign Affiliates Trade (ABS cat. no. 5485.0).
The data will be cross-classified by country and by principal activity of the foreign affiliate.
A similar publication was produced in respect to the 2002-03 financial year – Australian Outward Foreign Affiliates Trade, 2002-03 (ABS cat. no. 5495.0).
The main classifications used are:
· Standard Australian Classification of Countries (SACC)
· Central Product Classification (CPC)
· Standard Economic Sector Classifications of Australia (SESCA)
· Extended Balance of Payments Services (EBOPS)
Other concepts (summary)
Other (specify below)
Comments and/or Other Regions
The geographic data in this collection will include country (economy) of operation of the foreign affiliate
User funded, expected to be a one-off survey/collection.
Data availability comments
DATE OF LAST UPDATE FOR THIS DOCUMENT
27/06/2011 01:50 PM
This page last updated 7 August 2012