Australian Bureau of Statistics
5342.0 - Balance of Payments Statistics, Information Paper on Quality , 1996
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 20/02/1996
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1.7. In principle, balance of payments statistics should be compiled by summing the foreign accounts, whether actual or notional, of every economic unit (i.e. every government body, business and household) in Australia. Alternatively, each transaction, whether actual or notional, between a resident of Australia and a non-resident could, in principle, be measured. Other things being equal, if this were possible, the resulting statistics would be a true measure of balance of payments activity. In practice however, neither approach is feasible. Instead, the statistician produces estimates of the notional true values by combining data from a wide variety of sources reflecting varying valuations, coverage, frequency, detail and timeliness.
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