Statistics

Changes in the tables of external statistics

December

30/12/2014 -

Balance of payments and international investment position

On 30 December, coinciding with the dissemination of the monthly balance of payments data for October and the quarterly data for 2014 Q3, the Banco de España will be publishing, for the first time, the balance of payments data for the period 1995-2009, adhering to the IMF's new methodological manual, BPM6, and to the new data system.

The publication of the new results began on 15 October, when the balance of payments series from 2010 were revised. As at that date, the Banco de España published a press release which may be viewed via the following link: http://www.bde.es/f/webbde/GAP/Secciones/SalaPrensa/NotasInformativas/14/Arc/Fic/presbe2014_47en.pdfOpens in a new window

The revised data for the years prior to 2010 are now being published, thereby completing the adaptation of the balance of payments time series to the new system.

Users may consult, in the statistics section on this website, a press release which explains the changes made during 2014 in detail, via the external sector statistics.

October

15/10/2014 -

Balance of payments and international investment position

As announced in the 2014 statistics release calendar (http://www.bde.es/f/webbde/SES/estadis/ficheros/en/calendario_2014_2s_e.pdfOpens in a new window), on 15 October 2014 the Banco de España has made public the balance of payments for the month of July, along with the details of the balance of payments, the international investment position and the external debt for the second quarter of 2014 (see t he press release dated 15 October 2014: http://www.bde.es/f/webbde/GAP/Secciones/SalaPrensa/NotasInformativas/14/Arc/Fic/presbe2014_47en.pdfOpens in a new window. This has been the first dissemination of external statistics following the sixth edition of the Balance of Payments and International Position Manual (BPM6) and fully incorporating new information sources; accordingly, the data for recent years have also been revised.

A detailed account of the changes made and their effects can be found in the abovementioned press release and in the more comprehensive note also published in the web section Statistics, under the heading Balance of Payments and International Investment Position.

On the other hand, the table 17.26 of the International Reserves has undergone a minor change as a consequence of the adaptation to the new methodological manuals. The short-term loans are now reclassified as funds managed by the IFM, moving from deposits to other reserve assets, along with financial derivatives.

September

01/09/2014 -

Balance of payments and international investment position

As it was announced in the 2014 statistics release calendar (http://www.bde.es/f/webbde/SES/estadis/ficheros/en/calendario_2014_2s_e.pdfOpens in a new window), the Banco de España will be publishing on 15 October the balance of payments for the month of July, along with the details of the balance of payments, the international investment position and external debt for 2014 Q2 (see the press release dated 29 September on this website: http://www.bde.es/f/webbde/GAP/Secciones/SalaPrensa/NotasInformativas/14/Arc/Fic/presbe2014_45.pdfOpens in a new window). This will be the first publication of external statistics adhering to the Balance of Payments Manual Sixth Edition (BPM6) and fully incorporating new information sources; accordingly, the data for recent years will also be revised. This is why it had been envisaged postponing the release of these statistics, which is usually at the end of each month, for a few days.

To smooth the transition to the new reporting system for users of these statistics, the following links have been published on the website:

http://www.bde.es/webbde/en/estadis/infoest/bolest17.htmlOpens in a new window

http://www.bde.es/webbde/en/estadis/infoest/indeco.htmlOpens in a new window

These are the new templates for the new tables in the Boletín Estadístico and in the economic indicators, which include the change in frequency in the dissemination of certain headings and the changes in the names of certain items, following the new BPM6 terminology.

June

03/06/2014 -

Balance of payments and international investment position

In 2014 the European Union member states will implement the methodology of the 6th edition of the Balance of Payments and International Investment Position Manual (BPM6) in a coordinated manner with the entry into force of the manual of the European System of National and Regional Accounts (ESA 2010). Spain, as other European countries, will start disseminating Balance of Payments data according to the BPM6 in September or October 2014.

At that same time, the changes arising from the new data collection system that the Bank of Spain is developing at present as a consequence of the interruption of the traditional system in place, which was largely based in the reporting of cross-border transactions by commercial banks classified according to statistical codes and that disappears due to the development of the Single European Payments Area (SEPA), will also be implemented. In the new system, this source will be replaced by different subsystems, among which the following can be highlighted: the International Trade in Services and Other Transactions Survey, responsibility of INE, the direct reporting of foreign transactions and positions to Banco de España and the financial statements of credit entities. Therefore, until that moment, the figures and estimates of the Spanish Balance of Payments must be considered as provisional. During this transitional period, details corresponding to the item Other Services (tables 16 and 17) and to received loans by general government and other resident sectors (tables 30 and 31) will not be disseminated. 

March

03/03/2014 -

Balance of payments and international investment position

In 2014 the European Union Member States will implement the methodology of the 6th edition of the Balance of Payments and International Investment Position Manual (BPM6) in a coordinated manner with the entry into force of the manual of the European System of National and Regional Accounts (ESA 2010). Spain, like other European countries, will start disseminating Balance of Payments data according to the BPM6 in September or October 2014.

At that same time, the changes arising from the new data collection system that the Banco de España is developing at present as a consequence of the interruption of the traditional system in place, which was largely based on the reporting of cross-border transactions by commercial banks classified according to statistical codes and which has been discontinued due to the development of the Single European Payments Area (SEPA), will also be implemented. In the new system, this source will be replaced by different subsystems, among which the following can be highlighted: the International Trade in Services and Other Transactions Survey (under the responsibility of INE), the direct reporting of foreign transactions and positions to the Banco de España and the financial statements of credit institutions. Therefore, until that moment, the figures and estimates of the Spanish Balance of Payments must be considered as provisional.

All methodological changes to be introduced in the Balance of Payments data published in September-October 2014 will be described in detail in the annual publication Balanza de Pagos y Posición de Inversión Internacional de España, which will be published in June 2014.