Balance of Payments and International Investment Position

New tables have been included in this chapter 17 in order to disseminate more detailed information on Other services (external transactions of non-tourism services) item. Specifically, table 17.04a shows the breakdown according to the main standardized components of services of the sixth edition of the Manual of Balance of Payments and International Investment Position of the International Monetary Fund. Table 17.04b shows the breakdown of overall Other Services according to the main geographical and economic areas, as well as for the more relevant European countries in terms of their transactions with Spain. Data are disseminated from 2013 onwards in accordance with the first year of implementation of the new International Trade in Services Survey of the NSO (fully adapted to the new Balance of Payments and National Accounts’ manuals and incorporating changes in the sample design), which is the basic source of information for this item of Other services.

With regard to the tables included in the Statistical Bulletin to date, data have undergone some changes. Specifically, the International Investment Position incorporates, for the first time, the stock of assets and liabilities for financial derivatives of Other resident sector. These data are being provided since 2013 by the direct reporting declarants of the new information system for the Balance of Payments and the International Investment Position. However, the complexity of this item has required a longer period for checking the quality and, therefore, delaying its publication. Additionally, the statistical treatment of external assets and liabilities affected by the banknotes in circulation has been modified. The implementation of this methodological change has taken place in 2015 in coordination of euro area countries. The new methodology has been discussed and approved by European working groups and committees in order to homogenize with the treatment, which is already applied some time ago by the Financial accounts of institutional sectors. Significantly, the new methodology has no impact on the total net Financial account and the net International Investment Position, although it has produced a reclassification of assets and liabilities related to the international circulation of euro banknotes as well as a re-sectorization of items related to each other resident sectors and the Bank of Spain. A more detailed technical explanation of this treatment is available at http://www.bde.es/webbde/en/estadis/bpagos/bpabee.pdf In the near future, the publication of this methodological change will be completed until 2002.

The tables and economic indicators modified by this new treatment of euro banknotes are:

Table 17.1 Columns 7, 8
Table 17.2 Columns 2, 3, 6, 9, 12, 13
Table 17.7 Columns 9, 10
Table 17.8 Columns 9, 10, 13
Table 17.11 Columns 1, 6, 8, 10, 11, 14
Table 17.12 Columns 8, 9, 12
Table 17.15 Columns 1, 8, 9
Table 17.21 Columns 2, 9, 10, 13, 15, 16
Table 17.22 Columns 1, 10, 12, 14
Table 17.24 Columns 5, 6, 8
Table 17.27 Columns 1, 13
Table 17.29 Columns 4, 5
Economic indicator 7.2 Columns 2, 9, 10, 13, 15, 16
Economic indicator 7.6 Columns 2, 9, 10, 13, 15, 16
Economic indicator 7.7 Columns 9, 10