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EXPLANATORY NOTES
8 Africa could not be released as a separate region due to the small number of foreign affiliates of Australian enterprises operating in Africa. Therefore, Africa was included in the European region. 9 Many tables include an "Other" category which includes all countries that have not satisfied confidentiality requirements. 61 countries contribute to this category, with the largest contributors being Bermuda, Canada, the Cayman Islands, Germany, India, Ireland, Luxembourg, Mauritius, Mexico, the Republic of Korea and South Africa. Goods 10 Given the finance and insurance focus of SOFI FATS, there were insufficient data on goods income and expenses for these items to be published separately from services. Services 11 The services classification used in SOFI FATS was that used in Australia's balance of payments and follows the Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). Further information on services classifications is available in Balance of Payments and International Investment Position, Australia: Concepts, Sources and Methods (cat. no. 5331.0). The broad finance services category was further classified in Tables 5a and 5b as defined by the Central Product Classification, however due to data constraints it was necessary to collapse several classifications into a residual 'selected services' category. 12 The key measures presented in this publication are broadly aligned with accounting concepts for the finance and insurance industries. Sales include income from finance (including direct fees and charges from deposit services and credit granting services), insurance (including fees and premiums/claims received), pension and other services earned. Purchases include expenses from finance (including direct fees and charges from deposit services and credit granting services), insurance (including fees and premiums/claims paid), pension and other services paid. Sales and purchases exclude indirect charges such as financial intermediation services indirectly measured (FISIM), unless otherwise indicated (see paragraph 21 for more information). 13 Pension and superannuation services are included in insurance services, as they constitute a small percentage of services for both sales and purchases. MODE OF SUPPLY 14 Mode of supply describes how services may be traded internationally and considers the location of both the supplier and the consumer of the traded service. Under the General Agreement on Trade in Services (GATS), four modes of supply form the basis on which World Trade Organisation (WTO) member countries' agreements for trade in services are negotiated. 15 GATS defines the four modes of supply of services as:
16 Modes 1, 2 and 4 are combined and classified as exports or imports in relevant tables. Mode of supply has been developed to be applied to trade in services only. In SOFI FATS, trade in local-resident services was classified as commercial presence (mode 3). 17 This publication refers to outward foreign affiliate trade only. To calculate a complete balance for finance and insurance services, additional information would be required on Australia's inward foreign affiliate trade. Currently, the ABS only collects modes 1, 2 and 4 data on a regular basis for Australian resident trade in services. IMPUTATION 18 All units provided full responses to all aspects of this survey, with the exception of breakdowns for employment data into managerial and other. To account for partial response for both number of employees and wages and salaries, an explicit imputation strategy based on the responses of reporting units was used. Where the number of employees of partially responding units was close to those of the fully responding units, the employment data provided by the fully responding units were used to estimate missing data of the partially responding units. Consequently, these reporting units were assessed on a case by case basis and any estimates were closely based on the information provided by partially responding units and estimates from fully responding units. ABS CONFIDENTIALITY RESTRICTIONS 19 Under the Census and Statistics Act, 1905 it is an offence to release any information collected under the Act that is likely to enable identification of any particular individual or organisation. Tables are specified to minimise the risk of identifying organisations. Four steps have been taken to ensure that output cells in this publication are not likely to enable the identification of a particular organisation.
ESTIMATES OF GROSS VALUE ADDED 20 Information has been collected to approximate Gross value added (GVA) which is published in Table 1. GVA is the value of output at basic prices minus the value of intermediate consumption at purchasers' prices. The term is used to describe gross product by industry and by sector. Valuation of output at basic prices removes the distortion caused by variations in the incidence of commodity taxes and subsidies across the output of individual industries. ESTIMATES OF FISIM 21 Financial intermediation services indirectly measured (FISIM) was calculated for tables 5a and 5b. For more information on FISIM and how it is calculated, see chapter 12 of the Information Paper: Implementation of new international statistical standards in ABS National and International Accounts, September 2009 (cat. no. 5310.0.55.002). FISIM values represent the services provided by financial intermediaries where no explicit services are charged. PROFIT 22 Tables 1 and 7 show Profit on a before tax basis, however profit attributed to Australia refers to after tax. Retained profit in Table 7 refers to the accumulated net income which has been retained for reinvestment in the business rather than being distributed to shareholders in the form of dividends. FUTURE STUDIES 23 Data presented in this publication are final. The extent of data presented was affected by confidentiality restrictions. Consequently, any further cross-classifications or disaggregation of data are not possible. 24 Finance and insurance is one of the largest of the service industries traded by foreign affiliates. Other service industries are likely to consist of a low number of contributors and result in additional confidentiality restrictions. As such, it is likely that any future studies into other services industries would be problematic and lack detailed breakdowns. RELATED INFORMATION 25 Users may also wish to refer to the following publications which can be downloaded from the ABS website:
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