
Article 1 
This Regulation establishes a common framework for the systematic production of Community statistics on balance of payments, international trade in services and foreign direct investment.
Article 2 

1. Member States shall submit to the Commission (Eurostat) data on balance of payments, international trade in services and foreign direct investment as referred to in Annex I. The data shall be as defined in Annex II.
2. Member States shall submit the data to the Commission (Eurostat) in accordance with the deadlines shown in Annex I.
Article 3 

1. Member States shall collect the information required pursuant to this Regulation using all the sources they consider relevant and appropriate. These may include administrative data sources such as business registers.
2. Natural and legal persons required to supply information shall, when responding, comply with the time limits and definitions set by the national institutions responsible for the collection of data within the Member States in accordance with this Regulation.
3. Where the required data cannot be collected at a reasonable cost, best estimates may be transmitted (zero values included).
Article 4 

1. Member States shall take all reasonable measures they consider necessary to ensure the quality of the data transmitted according to common quality standards.
2. Member States shall supply the Commission with a report on the quality of the data transmitted (hereinafter referred to as ‘quality report’).
3. The common quality standards, as well as the content and periodicity of the quality reports, shall be specified in accordance with the procedure referred to in Article 11(2), taking into account the implications as regards the cost of collecting and compiling the data as well as important changes concerning data collection.The quality of the data transmitted shall be assessed, on the basis of the quality reports, by the Commission with the assistance of the Balance of Payments Committee referred to in Article 11. This assessment by the Commission shall be sent to the European Parliament for information.
4. Member States shall communicate to the Commission major methodological or other changes that would influence the data transmitted, not later than three months after any such change becomes applicable. The Commission shall notify the European Parliament and the other Member States of any such communication.
Article 5 
The statistics to be produced shall be grouped for transmission to the Commission (Eurostat) according to the following data flows:

((a)) balance of payments euro indicators;
((b)) balance of payments quarterly statistics;
((c)) international trade in services;
((d)) foreign direct investment (FDI) flows;
((e)) FDI positions.
The data flows shall be as further specified in Annex I.
Article 6 
Member States shall compile the data flows according to the relevant first reference period and the periodicity as specified in Annex I.
Article 7 
Member States shall transmit to the Commission (Eurostat) the data required by this Regulation following a format and a procedure defined by the Commission, in accordance with the procedure referred to in Article 11(2).
Article 8 

1. Notwithstanding the rules laid down in Article 5(4) of Regulation (Euratom, EEC) No 1588/90, the transmission of confidential data between Eurostat and the ECB may take place to the extent this transmission is necessary to ensure coherence between the balance of payments figures of the European Union and those of the economic territory of the Member States which have adopted the single currency.
2. Paragraph 1 shall apply on condition that the ECB takes due account of the principles defined in Article 10 of Regulation (EC) No 322/97 and complies with the conditions laid down in Article 14 of the same Regulation.
3. The exchange of confidential data, as defined by Article 13 of Regulation (EC) No 322/97, shall be allowed between Member States where the exchange is necessary to safeguard the quality of the balance of payment figures of the European Union.Member States receiving confidential data from other Member States shall treat that information confidentially.
Article 9 
The Commission (Eurostat) shall disseminate the Community statistics produced pursuant to this Regulation, with a periodicity similar to that specified in Annex I.
Article 10 
The measures necessary to take account of economic and technical changes shall be laid down in accordance with the procedure referred to in Article 11(2).
Such measures shall concern:

((a)) the updating of the definitions (Annex II);
((b)) the updating of data requirements, including submission deadlines as well as revisions, extensions and eliminations of data flows (Annex I).
Article 11 

1. The Commission shall be assisted by a Balance of Payments Committee, hereinafter the ‘Committee’.
2. Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof.The period laid down in Article 5(6) of Decision 1999/468/EC shall be set at three months.
3. The Committee shall adopt its Rules of Procedure.
4. The ECB may attend the meetings of the Committee as an observer.
Article 12 
By 28 February 2010, the Commission shall submit a report to the European Parliament and the Council on the implementation of this Regulation.
In particular, the report shall:

((a)) record the quality of the statistics produced;
((b)) assess the benefits accruing to the Community, the Member States and the providers and users of statistical information of the statistics produced in relation to the costs;
((c)) identify areas for potential improvement and amendments considered necessary in the light of the results obtained;
((d)) review the operation of the Committee and recommend whether the scope of implementing measures should be redefined.
Article 13 
This Regulation shall enter into force on the 20th day following its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.Done at Strasbourg, 12 January 2005.
For the European Parliament
The President
J. P. BORRELL FONTELLES
For the Council
The President
N. SCHMIT
ANNEX I
1. 

BOP EUREuro Indicators Deadline: t + 2 monthsPeriodicity: QuarterFirst reference period: First quarter of 2006
 Credit Debit Net
Current Account Extra-EU Extra-EU Extra-EU
Services Extra-EU Extra-EU Extra-EU


2. 

BOP QQuarterly Data Deadline: t + 3 monthsPeriodicity: QuarterFirst reference period: First quarter of 2006
 Credit Debit Net
I. Current Account Level 1 Level 1 Level 1
 Goods Level 1 Level 1 Level 1
 Services Level 1 Level 1 Level 1
 Transportation Level 1 Level 1 Level 1
 Travel Level 1 Level 1 Level 1
 Communications services Level 1 Level 1 Level 1
 Construction services Level 1 Level 1 Level 1
 Insurance services Level 1 Level 1 Level 1
 Financial services Level 1 Level 1 Level 1
 Computer and information services Level 1 Level 1 Level 1
 Royalties and licence fees Level 1 Level 1 Level 1
 Other business services Level 1 Level 1 Level 1
 Personal, cultural and recreational services Level 1 Level 1 Level 1
 Government services, not included elsewhere. Level 1 Level 1 Level 1
 Income Level 1 Level 1 Level 1
 Compensation of employees Level 1 Level 1 Level 1
 Investment Income   
  — Direct Investment
 Level 1 Level 1 Level 1
  — Portfolio Investment
 Extra-EU  World
  — Other Investment
 Extra-EU Extra-EU Extra-EU
 Current transfers Level 1 Level 1 Level 1
 General Government Extra-EU Extra-EU Extra-EU
 Other sectors Extra-EU Extra-EU Extra-EU
II. Capital Account Extra-EU Extra-EU Extra-EU
  Net assets Net liabilities Net
III. Financial Account   
 Direct Investment   Level 1
 Abroad   Level 1
  — Equity capital
   Level 1
  — Reinvested earnings
   Level 1
  — Other capital
   Level 1
 In the reporting economy   Level 1
  — Equity capital
   Level 1
  — Reinvested earnings
   Level 1
  — Other capital
   Level 1
 Portfolio Investment Extra-EU World 
 Financial derivatives   World
 Other Investment Extra-EU Extra-EU Extra-EU

3. 

BOP ITSInternational Trade in Services Deadline: t + 9 monthsPeriodicity: YearFirst reference period: 2006
 Credit Debit Net
Total Services Level 3 Level 3 Level 3
Transportation Level 2 Level 2 Level 2
Sea transport Level 2 Level 2 Level 2
 — Passenger
 Level 2 Level 2 Level 2
 — Freight
 Level 2 Level 2 Level 2
 — Other
 Level 2 Level 2 Level 2
Air transport Level 2 Level 2 Level 2
 — Passenger
 Level 2 Level 2 Level 2
 — Freight
 Level 2 Level 2 Level 2
 — Other
 Level 2 Level 2 Level 2
Other transport Level 2 Level 2 Level 2
 — Passenger
 Level 2 Level 2 Level 2
 — Freight
 Level 2 Level 2 Level 2
 — Other
 Level 2 Level 2 Level 2
Extended classification of other transport   
Space transport Level 2 Level 2 Level 2
Rail transport Level 2 Level 2 Level 2
 — Passenger
 Level 2 Level 2 Level 2
 — Freight
 Level 2 Level 2 Level 2
 — Other
 Level 2 Level 2 Level 2
Road transport Level 2 Level 2 Level 2
 — Passenger
 Level 2 Level 2 Level 2
 — Freight
 Level 2 Level 2 Level 2
 — Other
 Level 2 Level 2 Level 2
Inland waterway transport Level 2 Level 2 Level 2
 — Passenger
 Level 2 Level 2 Level 2
 — Freight
 Level 2 Level 2 Level 2
 — Other
 Level 2 Level 2 Level 2
Pipeline transport and electricity transmission Level 2 Level 2 Level 2
Other supporting and auxiliary transport services Level 2 Level 2 Level 2
Travel Level 2 Level 2 Level 2
Business travel Level 2 Level 2 Level 2
 — Expenditure by seasonal and border workers
 Level 2 Level 2 Level 2
 — Other
 Level 2 Level 2 Level 2
Personal travel Level 2 Level 2 Level 2
 — Health-related expenditure
 Level 2 Level 2 Level 2
 — Education-related expenditure
 Level 2 Level 2 Level 2
 — Other
 Level 2 Level 2 Level 2
Communications services Level 2 Level 2 Level 2
Postal and courier services Level 2 Level 2 Level 2
Telecommunications services Level 2 Level 2 Level 2
Construction services Level 2 Level 2 Level 2
Construction abroad Level 2 Level 2 Level 2
Construction in the compiling economy Level 2 Level 2 Level 2
Insurance services Level 2 Level 2 Level 2
Life insurance and pension funding Level 2 Level 2 Level 2
Freight insurance Level 2 Level 2 Level 2
Other direct insurance Level 2 Level 2 Level 2
Reinsurance Level 2 Level 2 Level 2
Auxiliary services Level 2 Level 2 Level 2
Financial services Level 2 Level 2 Level 2
Computer and information services Level 2 Level 2 Level 2
Computer services Level 2 Level 2 Level 2
Information services Level 2 Level 2 Level 2
 — News agency services
 Level 2 Level 2 Level 2
 — Other information provision services
 Level 2 Level 2 Level 2
Royalties and licence fees Level 2 Level 2 Level 2
Franchises and similar rights Level 2 Level 2 Level 2
Other royalties and license fees Level 2 Level 2 Level 2
Other business services Level 2 Level 2 Level 2
Merchanting and other trade-related services Level 2 Level 2 Level 2
 — Merchanting
 Level 2 Level 2 Level 2
 — Other trade-related services
 Level 2 Level 2 Level 2
Operational leasing services Level 2 Level 2 Level 2
Miscellaneous business, professional and technical services Level 2 Level 2 Level 2
 — Legal, accounting, management consulting and public relations
 Level 2 Level 2 Level 2
 — Legal services
 Level 2 Level 2 Level 2
 — Accounting, auditing, bookkeeping and tax consulting services
 Level 2 Level 2 Level 2
 — Business and management consulting and public relations services
 Level 2 Level 2 Level 2
 — Advertising, market research, and public opinion polling
 Level 2 Level 2 Level 2
 — Research and development
 Level 2 Level 2 Level 2
 — Architectural, engineering and other technical services
 Level 2 Level 2 Level 2
 — Agricultural, mining and on-site processing services
 Level 2 Level 2 Level 2
 — Waste treatment and depollution
 Level 2 Level 2 Level 2
 — Agricultural, mining and other on-site processing services
 Level 2 Level 2 Level 2
 — Other business services
 Level 2 Level 2 Level 2
 — Services between related enterprises, not included elsewhere.
 Level 2 Level 2 Level 2
Personal, cultural and recreational services Level 2 Level 2 Level 2
Audiovisual and related services Level 2 Level 2 Level 2
Other personal, cultural and recreational services Level 2 Level 2 Level 2
 — Education services
 Level 2 Level 2 Level 2
 — Health services
 Level 2 Level 2 Level 2
 — Other
 Level 2 Level 2 Level 2
Government services (not included elsewhere) Level 2 Level 2 Level 2
Embassies and consulates Level 2 Level 2 Level 2
Military units and agencies Level 2 Level 2 Level 2
Other government services Level 2 Level 2 Level 2
Memorandum items   
Audiovisual transactions Level 1 Level 1 Level 1
Postal services Level 1 Level 1 Level 1
Courier services Level 1 Level 1 Level 1

4. 

BOP FDIDirect Investment Flows Deadline: t + 9 monthsPeriodicity: YearFirst reference period: 2006
A Geographical breakdown   
 Item Data type Geographical breakdown Activity breakdown
 Direct investment abroad   
510 Equity capital Net Level 2 Not required
525 Reinvested earnings Net Level 2 Not required
530 Other capital Net Level 2 Not required
505 Direct investment abroad: Total Net Level 3 Not required
 Direct investment in the reporting economy   
560 Equity capital Net Level 2 Not required
575 Reinvested earnings Net Level 2 Not required
580 Other capital Net Level 2 Not required
555 Direct investment in the reporting economy: Total Net Level 3 Not required
 Direct investment income   
332 Dividends Credit, debit, net Level 2 Not required
333 Reinvested earning and undistributed branch profits Credit, debit, net Level 2 Not required
334 Income on debt Credit, debit, net Level 2 Not required
330 Direct investment income: Total Credit, debit, net Level 3 Not required



BOP FDIDirect Investment Flows Deadline: t + 21 monthsPeriodicity: YearFirst reference period: 2006
A Geographical breakdown   
 Item Data type Geographical breakdown Activity breakdown
 Direct investment abroad   
510 Equity capital Net Level 2 Not required
525 Reinvested earnings Net Level 2 Not required
530 Other capital Net Level 2 Not required
505 Direct investment abroad: Total Net Level 3 Not required
 Direct investment in the reporting economy   
560 Equity capital Net Level 2 Not required
575 Reinvested earnings Net Level 2 Not required
580 Other capital Net Level 2 Not required
555 Direct investment in the reporting economy: Total Net Level 3 Not required
 Direct investment income   
332 Dividends Credit, debit, net Level 2 Not required
333 Reinvested earning and undistributed branch profits Credit, debit, net Level 2 Not required
334 Income on debt Credit, debit, net Level 2 Not required
330 Direct investment income: Total Credit, debit, net Level 3 Not required
B Activity breakdown   
 Item Data type Geographical breakdown Activity breakdown
505 Direct investment income: Total NetNet Level 1Level 2 Level 2Level 1
555 Direct investment in the reporting economy: Total NetNet Level 1Level 2 Level 2Level 1
330 Direct investment income: Total Credit, debit, netCredit, debit, net Level 1Level 2 Level 2Level 1

5. 

BOP POSDirect Investment Positions Deadline: t + 9 monthsPeriodicity: YearFirst reference period: 2006
A Geographical breakdown   
 Item Data type Geographical breakdown Activity breakdown
 Direct investment assets   
506 Equity capital and reinvested earnings Net Positions Level 1 Not required
530 Other capital Net Positions Level 1 Not required
505 Direct investment abroad: Total assets, net Net Positions Level 2 Not required
 Direct investment liabilities   
556 Equity capital and reinvested earnings Net Positions Level 1 Not required
580 Other capital Net Positions Level 1 Not required
555 Direct investment in the reporting economy: Total liabilities, net Net Positions Level 2 Not required




BOP POSDirect Investment Positions Deadline: t + 21 monthsPeriodicity: YearFirst reference period: 2006
A Geographical breakdown   
 Item Data type Geographical breakdown Activity breakdown
 Direct investment assets   
506 Equity capital and reinvested earnings Net Positions Level 2 Not required
530 Other capital Net Positions Level 2 Not required
505 Direct investment abroad: Total assets, net Net Positions Level 3 Not required
 Direct investment liabilities   
556 Equity capital and reinvested earnings Net Positions Level 2 Not required
580 Other capital Net Positions Level 2 Not required
555 Direct investment in the reporting economy: Total liabilities, net Net Positions Level 3 Not required
B Activity breakdown   
 Item Data type Geographical breakdown Activity breakdown
505 Direct investment abroad: Total assets, net Net Positions Level 1Level 2 Level 2Level 1
555 Direct investment in the reporting economy: Total liabilities, net Net Positions Level 1Level 2 Level 2Level 1


6. 

Level 1 Level 2
A1 World (all entities) A1 World (all entities)
D3 EU-25 (Intra-EU-25) D3 EU-25 (Intra-EU-25)
U4 Extra-euro-zone U4 Extra-euro-zone
4A European Union institutions 4A European Union institutions
D5 Extra-EU-25 D5 Extra-EU-25
  IS Iceland
  LI Liechtenstein
  NO Norway
CH Switzerland CH Switzerland
  BG Bulgaria
  HR Croatia
  RO Romania
  RU Russian Federation
  TR Turkey
  EG Egypt
  MA Morocco
  NG Nigeria
  ZA South Africa
CA Canada CA Canada
US United States of America US United States of America
  MX Mexico
  AR Argentina
  BR Brazil
  CL Chile
  UY Uruguay
  VE Venezuela
  IL Israel
  CN China
  HK Hong Kong
  IN India
  ID Indonesia
JP Japan JP Japan
  KR South Korea
  MY Malaysia
  PH Philippines
  SG Singapore
  TW Taiwan
  TH Thailand
  AU Australia
  NZ New Zealand
Z8 Extra- EU-25 non-allocated Z8 Extra- EU-25 non-allocated
C4 Offshore financial centres C4 Offshore financial centres



Level 3
7Z International Organisations excluding European Union Institutions
AD Andorra
AE United Arab Emirates
AF Afghanistan
AG Antigua and Barbuda
AI Anguilla
AL Albania
AM Armenia
AN Netherlands Antilles
AO Angola
AQ Antarctica
AR Argentina
AS American Samoa
AT Austria
AU Australia
AW Aruba
AZ Azerbaijan
BA Bosnia and Herzegovina
BB Barbados
BD Bangladesh
BE Belgium
BF Burkina Faso
BG Bulgaria
BH Bahrain
BI Burundi
BJ Benin
BM Bermuda
BN Brunei Darussalam
BO Bolivia
BR Brazil
BS Bahamas
BT Bhutan
BV Bouvet Island
BW Botswana
BY Belarus
BZ Belize
CA Canada
CC Cocos (Keeling) Islands
CD Congo, the Democratic Republic of the
CF Central African Republic
CG Congo
CH Switzerland
CI Côte d'Ivoire
CK Cook Islands
CL Chile
CM Cameroon
CN China
CO Colombia
CR Costa Rica
CS Serbia and Montenegro
CU Cuba
CV Cape Verde
CX Christmas Island
CY Cyprus
CZ Czech Republic
DE Germany
DJ Djibouti
DK Denmark
DM Dominica
DO Dominican Republic
DZ Algeria
EC Ecuador
EE Estonia
EG Egypt
ER Eritrea
ES Spain
ET Ethiopia
FI Finland
FJ Fiji
FK Falkland Islands (Malvinas)
FM Micronesia, Federated States of
FO Faeroe Islands
FR France
GA Gabon
GB United Kingdom
GD Grenada
GE Georgia
GG Guernsey (No official ISO 3166-1 country code, exceptionally reserved code elements)
GH Ghana
GI Gibraltar
GL Greenland
GM Gambia
GN Guinea
GQ Equatorial Guinea
GR Greece
GS South Georgia and the South Sandwich Islands
GT Guatemala
GU Guam
GW Guinea-Bissau
GY Guyana
HK Hong Kong
HM Heard Island and McDonald Islands
HN Honduras
HR Croatia
HT Haiti
HU Hungary
ID Indonesia
IE Ireland
IL Israel
IM Isle of Man (No official ISO 3166-1 country code, exceptionally reserved code elements)
IN India
IO British Indian Ocean Territory
IQ Iraq
IR Iran, Islamic Republic of
IS Iceland
IT Italy
JE Jersey (No official ISO 3166-1 country code, exceptionally reserved code elements)
JM Jamaica
JO Jordan
JP Japan
KE Kenya
KG Kyrgyzstan
KH Cambodia (Kampuchea)
KI Kiribati
KM Comoros
KN St Kitts and Nevis
KP Korea, Democratic People's Republic of (North Korea)
KR Korea, Republic of (South Korea)
KW Kuwait
KY Cayman Islands
KZ Kazakhstan
LA Lao People's Democratic Republic
LB Lebanon
LC Saint Lucia
LI Liechtenstein
LK Sri Lanka
LR Liberia
LS Lesotho
LT Lithuania
LU Luxembourg
LV Latvia
LY Libyan Arab Jamahiriya
MA Morocco
MD Moldova, Republic of
MG Madagascar
MH Marshall Islands
MK Macedonia, the Former Yugoslav Republic of
ML Mali
MM Myanmar
MN Mongolia
MO Macao
MP Northern Mariana Islands
MQ Martinique
MR Mauritania
MS Montserrat
MT Malta
MU Mauritius
MV Maldives
MW Malawi
MX Mexico
MY Malaysia
MZ Mozambique
NA Namibia
NC New Caledonia
NE Niger
NF Norfolk Island
NG Nigeria
NI Nicaragua
NL Netherlands
NO Norway
NP Nepal
NR Nauru
NU Niue
NZ New Zealand
OM Oman
PA Panama
PE Peru
PF French Polynesia
PG Papua New Guinea
PH Philippines
PK Pakistan
PL Poland
PN Pitcairn
PR Puerto Rico
PS Palestinian Territory, Occupied
PT Portugal
PW Palau
PY Paraguay
QA Qatar
RO Romania
RU Russian Federation
RW Rwanda
SA Saudi Arabia
SB Solomon Islands
SC Seychelles
SD Sudan
SE Sweden
SG Singapore
SH St Helena
SI Slovenia
SK Slovakia
SL Sierra Leone
SM San Marino
SN Senegal
SO Somalia
SR Suriname
ST Sao Tome and Principe
SV El Salvador
SY Syrian Arab Republic
SZ Swaziland
TC Turks and Caicos Islands
TD Chad
TG Togo
TH Thailand
TJ Tajikistan
TK Tokelau
TL Timor Leste
TM Turkmenistan
TN Tunisia
TO Tonga
TR Turkey
TT Trinidad and Tobago
TV Tuvalu
TW Taiwan, Province of China
TZ Tanzania, United Republic of
UA Ukraine
UG Uganda
UM United States Minor Outlying Islands
US United States
UY Uruguay
UZ Uzbekistan
VA Holy See (Vatican City State)
VC St Vincent and the Grenadines
VE Venezuela
VG Virgin Islands, British
VI Virgin Islands, US
VN Vietnam
VU Vanuatu
WF Wallis and Futuna
WS Samoa
YE Yemen
YT Mayotte
ZA South Africa
ZM Zambia
ZW Zimbabwe


7. 

Level 1 Level 2
  NACE rev. 1
 AGRICULTURE AND FISHING Section A and B
MINING & QUARRYING MINING AND QUARRYING Section C
 Of which: 
 Extraction of petroleum and gas Div 11
MANUFACTURING MANUFACTURING Section D
 Food products Subsection DA
 Textiles and wearing apparel Subsection DB
 Wood, publishing and printing Subsections DD and DE
 TOTAL textiles and wood activities 
 Refined petroleum products and other treatments Div 23
 Manufacture of chemicals and chemical products Div 24
 Rubber and plastic products Div 25
Petroleum, chemical, rubber, plastic products TOTAL petroleum, chemical, rubber, plastic products 
 Metal products Subsection DJ
 Mechanical products Div 29
 TOTAL metal and mechanical products 
 Office machinery and computers Div 30
 Radio, TV, communication equipment Div 32
Office machinery, computers, RTV, communication equipment TOTAL machines, computers, RTV, communication equipment. 
 Motor vehicles Div 34
 Other transport equipment Div 35
Vehicles, other transport equipment TOTAL vehicles and other transport equipment 
 Manufacturing n.i.e. 
ELECTRICITY, GAS & WATER ELECTRICITY, GAS AND WATER Section E
CONSTRUCTION CONSTRUCTION Section F
TOTAL SERVICES TOTAL SERVICES 
TRADE AND REPAIRS TRADE AND REPAIRS Section G
 Sale, maintenance and repair of motor vehicles and motor cycles; retail sale of automotive fuel Div 50
 Wholesale trade and commission trade, except of motor vehicles and motor cycles Div 51
 Retail trade, except of motor vehicles and motor cycles; repair of personal and household goods Div 52
HOTELS & RESTAURANTS HOTELS AND RESTAURANTS Section H
TRANSPORT, STORAGE AND COMMUNICATIONS TRANSPORT, STORAGE AND COMMUNICATIONS Section I
 Transport and storage Div 60, 61, 62, 63
 Land transport; transport via pipelines Div 60
 Water transport Div 61
 Air transport Div 62
 Supporting and auxiliary transport activities; activities of travel agencies Div 63
 Post and telecommunications Div 64
 Post and courier activities Group 641
 Telecommunications Group 642
FINANCIAL INTERMEDIATION FINANCIAL INTERMEDIATION Section J
 Financial intermediation, except insurance and pension funding Div 65
 Insurance and pension funding, except compulsory social security Div 66
 Activities auxiliary to financial intermediation Div 67
 REAL ESTATE ACTIVITIES Section K, Div 70
 RENTING OF MACHINERY AND EQUIPMENT WITHOUT bPERATOR AND OF PERSONAL AND HOUSEHOLD GOODS Section K, Div 71
COMPUTER & RELATED ACTIVITIES COMPUTER AND RELATED ACTIVITIES Section K, Div 72
RESEARCH & DEVELOPMENT RESEARCH AND DEVELOPMENT Section K, Div 73
OTHER BUSINESS ACTIVITIES OTHER BUSINESS ACTIVITIES Section K, Div 74
 Legal accounting, market research, consultancy Group 741
 Legal activities Class 7411
 Accounting, bookkeeping and audit; tax consultancy Class 7412
 Market research and public opinion polling Class 7413
 Business and management consultancy activities Class 7414, 7415
 Architectural, engineering and other technical activities Group 742
 Advertising Group 744
 Business activities not elsewhere classified. Group 743, 745, 746, 747, 748
 EDUCATION Section M
 HEALTH AND SOCIAL WORK Section N
 SEWAGE AND REFUSE DISPOSAL Section O, Div 90
 ACTIVITIES OF MEMBERSHIP ORGANISATIONS NOT ELSEWHERE CLASSIFIED. Section O, Div 91
RECREATIONAL, CULTURAL, SPORTING ACTIVITIES RECREATIONAL, CULTURAL, SPORTING ACTIVITIES Section O, Div 92
 Motion picture, radio, television, other entertainment activities Group 921, 922, 923
 News agency activities Group 924
 Library, archives, museums, other cultural activities Group 925
 Sporting and other recreational activities Group 926, 927
 OTHER SERVICE ACTIVITIES Section O, Div 93
 Not allocated 

ANNEX II
The goods component of the Balance of Payments Current Account covers moveable goods for which change of ownership (between residents and non-residents) occurs. These goods should be measured at market value on an f.o.b. basis. Exceptions to the change of ownership rule (transactions in these items are recorded in goods) include: goods on financial lease, goods transferred between a parent enterprise and a branch, and some goods for processing. Intra-EU Trade in Goods: the partner country should be defined according to the consignment principle. It includes: general merchandise, goods for processing, repairs on goods, goods procured in ports by carriers and non-monetary gold.

Covers all transportation services that are provided by residents of one economy for those of another and that involve the carriage of passengers, the movement of goods (freight), rentals (charters) of carriers with crew, and related supporting and auxiliary services.

Covers all transportation services by sea. The following breakdown is required: Passenger Sea Transport (code 207); Freight Sea Transport (code 208), and Other Sea Transport (code 209).

Covers all transportation services provided by air. The following breakdown is required: Passenger Air Transport (code 211); Freight Air Transport (code 212), and Other Air Transport (code 213).

Covers all transportation services not provided by sea or air. The following breakdown is required: Passenger on Other Transport (code 215); Freight on Other Transport (code 216), and Other on Other Transport (code 217).

An extended classification for Other Transport (code 214) is required as follows:

Includes satellite launches undertaken by commercial enterprises for the owners of the satellites (such as telecommunication enterprises) and other operations performed by operators of space equipment, such as transport of goods and people for scientific experiments. Also included, is space passenger transport and the payments made by an economy in order to have its residents included on the space vehicles of another economy.

Covers transport by train. A further subdivision between Passenger Rail Transport (code 220), Freight Rail Transport (code 221) and Other rail transport (code 222) is required.

Covers transport by lorries, trucks, buses and coaches. A further subdivision between Passenger Road Transport (code 224), Freight Road Transport (code 225) and Other Road Transport (code 226) is required.

Relates to international transportation on rivers, canals and lakes. Included are waterways that are internal to one country and those that are shared among two or more countries. A further subdivision between Passenger Inland Waterway Transport (code 228), Freight Inland Waterway Transport (code 229) and Other Inland Waterway Transport (code 230) is required.

Covers international transport of goods in pipelines. Also included are charges for the transmission of electricity when this is separate from the production and distribution process. The provision of electricity itself is excluded, as is the provision of petroleum and related products, water and other goods supplied through pipelines. Also excluded are distribution services of electricity, water, gas and other petroleum products (included in Other Business Services (code 284)).

Other supporting and auxiliary transport services covers all other transportation services that cannot be allocated to any of the components of transportation services described above.

Travel covers primarily the goods and services acquired from an economy by travellers during visits of less than one year to that economy. The goods and services are purchased by, or on behalf of, the traveller or provided, without a quid pro quo (that is, are provided as a gift), for the traveller to use or give away. Excluded are transportation of travellers within the economies that they are visiting, where such transportation is provided by carriers not resident in the particular economy being visited, as well as the international carriage of travellers, both of which are covered in passenger services under transportation. Also excluded are goods purchased by a traveller for resale in the traveller’s own economy or in any other economy. Travel is divided in two subcomponents: Business Travel (code 237) and Personal Travel (code 240).

Business travel covers the acquisition of goods and services by business travellers. Also includes the acquisition of goods and services for personal use by seasonal, border and other workers who are not resident in the economy in which they are employed and whose employer is resident in that economy. Business travel is further divided into Expenditure by seasonal and border workers (code 238) and Other Business Travel (code 239).

Includes the acquisition of goods and services for personal use by seasonal, border and other workers who are not resident in the economy in which they are employed and whose employer is resident in that economy.

Covers all Business Travel (code 237) not included in Expenditure by seasonal and border workers (code 238).

Personal travel covers goods and services acquired by travellers going abroad for purposes other than business, such as holidays, participation in recreational and cultural activities, visits with friends and relations, pilgrimage, and education- and health-related purposes. Personal travel (code 240) is divided in three subcomponents: Health-related Expenditure (code 241), Education-related Expenditure (code 242) and Other Personal Travel (code 243).

It is defined as the total expenditure by those travelling for medical reasons.

It is defined as the total expenditure by students.

Covers all Personal Travel (code 240) not included in Health-related Expenditure (code 241) or Education-related Expenditure (code 242).

All Services (code 200) not included in Transportation (code 205) or Travel (code 236).

Comprises Postal and Courier Services (code 246) and Telecommunication Services (code 247).

Comprises Postal Services (code 958) and Courier Services (code 959).

Includes poste restante services, telegram services and post office counter services, such as sales of stamps, money orders etc. Postal services are often, but not exclusively, supplied by national postal administrations. Postal services are subject to international agreements, and the flows between operators of different economies should be recorded on a gross basis.

Courier services focuses on express and door-to-door delivery. Couriers may use self-owned, privately shared or public transportation to supply these services. Included are express delivery services, which might include, for example, on-demand pick-up or time-definite delivery.

Encompasses the transmission of sound, images or other information by telephone, telex, telegram, radio and television cable and broadcasting, satellite, electronic mail, facsimile services etc., including business network services, teleconferencing and support services. It does not include the value of the information transported. Also included are cellular telephone services, Internet backbone services and online access services, including provision of access to the Internet.

Comprises Construction Abroad (code 250) and Construction in the Compiling Economy (code 251).

Comprises the construction services provided to non-residents by enterprises resident in the compiling economy (credit) and the goods and services purchased in the host economy by these enterprises (debit).

Comprises construction services provided to residents of the compiling economy by non-resident construction enterprises (debit) and the goods and services purchased in the compiling economy by these non-resident enterprises (credit).

Covers the provision of various types of insurance to non-residents by resident insurance enterprises, and vice versa. These services are estimated or valued by the service charges included in total premiums rather than by the total value of the premiums. It comprises Life insurance and pension funding (code 254), Freight insurance (code 255), Other direct insurance (code 256), Reinsurance (code 257) and Auxiliary services (code 258)

Holders of life insurance policies, both with profit and without profit, make regular payments to an insurer (there may be just a single payment), in return for which the insurer guarantees to pay the policy holder an agreed minimum sum or an annuity, at a given date or at the death of the policy holder, if this occurs earlier. Term life insurance, where benefits are provided in the case of death but in no other circumstances, is a form of direct insurance, and is excluded here and included in Other direct insurance (code 256).

Pension funds are separate funds established for the purpose of providing income on retirement for specific groups of employees. They are organised and directed by private or public employers or jointly by employers and their employees. They are funded by contributions from the employer and/or the employees and by the investment income earned on fund assets, and they also engage in financial transactions on their own account. They do not include social security schemes organised for large sections of the community that are imposed, controlled or financed by general government. Pension fund management services are included. In the case of pension funds, ‘premiums’ are generally described as ‘contributions’, while ‘claims’ are generally described as ‘benefits’

Freight insurance services relate to insurance provided on goods that are in the process of being exported or imported, on a basis that is consistent with the measurement of goods f.o.b. and freight transportation.

Other direct insurance covers all other forms of casualty insurance. Included are term life insurance; accident and health insurance (unless these are provided as part of government social security schemes); marine, aviation and other transport insurance, fire and other property damage, pecuniary loss insurance, general liability insurance and other insurance, such as travel insurance and insurance related to loans and credit cards.

Reinsurance is the process of subcontracting parts of the insurance risk, often to specialised operators, in return for a proportionate share of the premium income. Reinsurance transactions may relate to packages that mix several types of risks.

Comprises transactions that are closely related to insurance and pension fund operations. Included are agents’ commissions, insurance brokering and agency services, insurance and pension consultancy services, evaluation and adjustment services, actuarial services, salvage administration services, and regulatory and monitoring services on indemnities and recovery services.

Financial services covers financial intermediation and auxiliary services, except those of life insurance enterprises and pension funds (which are included in life insurance and pension funding) and other insurance services that are conducted between residents and non-residents. Such services may be provided by banks, stock exchanges, factoring enterprises, credit card enterprises and other enterprises. Included are services provided in connection with transactions in financial instruments, as well as other services related to financial activity, such as advisory, custody and asset management services.

Comprises Computer Services (code 263) and Information Services (code 264).

Consists of hardware and software-related services and data-processing services. Included are hardware and software consultancy and implementation services; maintenance and repair of computers and peripheral equipment; disaster recovery services, provision of advice and assistance on matters related to the management of computer resources; analysis, design and programming of systems ready to use (including web page development and design), and technical consultancy related to software; development, production, supply and documentation of customised software, including operating systems made on order for specific users; systems maintenance and other support services, such as training provided as part of consultancy; data-processing services, such as data entry, tabulation and processing on a time-sharing basis; web page hosting services (i.e. the provision of server space on the Internet to host clients’ web pages); and computer facilities management.

Comprises News Agency Services (code 889) and Other information provision services (code 890).

News agency services include the provision of news, photographs, and feature articles to the media.

Includes database services - database conception, data storage and the dissemination of data and databases (including directories and mailing lists) - both online and through magnetic, optical or printed media and web search portals (search engine services that find internet addresses for clients who input keyword queries). Also included are direct, non-bulk subscriptions to newspapers and periodicals, whether by mail, electronic transmission or other means.

Comprises Franchises and similar rights (code 891) and Other royalties and licence fees (code 892).

Comprises international payments and receipts of franchising fees and the royalties paid for the use of registered trademarks.

Includes international payments and receipts for the authorised use of intangible, non-produced, non-financial assets and proprietary rights (such as patents, copyrights and industrial processes and designs) and the use, through licensing agreements, of produced originals or prototypes (such as manuscripts, computer programs, and cinematographic works and sound recordings).

Comprises Merchanting and other trade-related services (code 269), Operational leasing services (code 272) and Miscellaneous business, professional, and technical services (code 273).

Comprise Merchanting (code 270) and Other trade-related services (code 271)

Merchanting is defined as the purchase of a good by a resident of the compiling economy from a non-resident and the subsequent resale of the good to another non-resident; during the process, the good does not enter or leave the compiling economy.

Covers commissions on goods and service transactions between (a) resident merchants, commodity brokers, dealers, and commission agents and (b) non-residents.

Covers resident/non-resident leasing (rental) and charters, without operators, of ships, aircraft and transportation equipment, such as railway cars, containers and rigs, without crew.

Comprises Legal, accounting, management consulting, and public relations (code 274), Advertising, market research and public opinion polling (code 278), Research and development (code 279), Architectural, engineering and other technical services (code 280), Agricultural, mining, and on-site processing services (code 281), Other business services (code 284) and Services between related enterprises, n.i.e. (code 285).

Comprises Legal services (code 275), Accounting, auditing, bookkeeping and tax consultancy services (code 276) and Business and management consulting and public relations services (code 277).

Covers legal advisory and representation services in any legal, judicial and statutory procedures, drafting services of legal documentation and instruments, certification consultancy; and escrow and settlement services.

Covers the recording of commercial transactions for businesses and others, examination services of accounting records and financial statements, business tax planning and consulting; and preparation of tax documents.

Covers advisory, guidance and operational assistance services provided to businesses for business policy and strategy and the overall planning, structuring and control of an organisation. Included are management auditing, market management, human resources, production management and project management consulting; and advisory, guidance and operational services related to improving the image of the clients and their relations with the institutions and the general public.

Services transacted between residents and non-residents. Covers the design, creation and marketing of advertisements by advertising agencies, media placement, including the purchase and sale of advertising space, exhibition services provided by trade fairs, the promotion of products abroad, market research, telemarketing and public opinion polling on various issues.

Covers those services that are transacted between residents and non-residents and associated with basic research, applied research and experimental development of new products and processes.

Covers transactions between residents and non-residents related to architectural design of urban and other development projects; planning and project design and supervision of dams, bridges, airports, turnkey projects etc.; surveying, cartography, product testing and certification; and technical inspection services.

Comprises Waste treatment and depollution (code 282) and Agricultural, mining, and other on-site processing services (code 283).

Includes the treatment of radioactive and other waste, stripping of contaminated soil, cleaning up of pollution including oil spills, restoration of mining sites; and decontamination and sanitation services. Also included are all other services that relate to the cleaning or restoring of the environment.

Comprises:


((a)) agricultural services that are incidental to agriculture, such as the provision of agricultural machinery with crew, harvesting, treatment of crops, pest control, animal boarding, animal care, and breeding services. Services in hunting, trapping, forestry and logging, and fishing are also included here;
((b)) mining services provided at oil and gas fields, including drilling, derrick building, repair and dismantling services, and oil and gas well casing cementing. Services incidental to mineral prospecting and exploration, as well as mining engineering and geological surveying, are also included here;
((c)) other on-site processing services, which covers on-site processing of or work on goods that have been imported without change of ownership, processed but not re-exported to the country from which the goods were consigned (but are instead either sold in the processing economy or sold to a third economy) or vice versa.

Covers services transactions between residents and non-residents, such as the placement of personnel, security and investigative services, translation and interpretation, photographic services, building cleaning, real estate services to businesses and any other business services that cannot be classified to any of the aforementioned business services.

It is a residual category. It covers payments between related enterprises for services that cannot be specifically classified to any other component. It includes payments from branches, subsidiaries and associates to their parent enterprise or other related enterprises that represent contributions to the general management costs of the branches, subsidiaries and associates (for planning, organising and controlling) and also reimbursements of expenses settled directly by parent enterprises. Also included are transactions between parent enterprises and their branches, subsidiaries and associates to cover overhead expenses.

Comprises Audiovisual and related services (code 288) and Other personal, cultural and recreational services (code 289).

Comprises services and associated fees related to the production of motion pictures (on film or videotape), radio and television programmes (live or on tape) and musical recordings. Included are receipts or payments for rentals; fees received by resident actors, producers etc. for productions abroad (or by non-residents for work carried out in the compiling economy); fees for distribution rights sold to the media for a limited number of showings in specified areas and access to encrypted television channels (such as cable services). Fees to actors, directors and producers involved with theatrical and musical productions, sporting events, circuses and other similar events and fees for distribution rights (for television, radio, and film) for these activities are included.

Comprises Education services (code 895), Health services (code 896) and Other or Other personal, cultural and recreational services not included elsewhere (code 897).

Comprises services supplied between residents and non-residents relating to education, such as correspondence courses and education via television or the Internet, as well as by teachers etc. who supply services directly in host economies.

Comprises services provided by doctors, nurses and paramedical and similar personnel, as well as laboratory and similar services, whether rendered remotely or on-site. Excluded is all expenditure by travellers on education and health (included in travel).

It is a residual category covering Other personal, cultural and recreational services (code 289) not included in Education services (code 895) and Health services (code 896).

It is a residual category covering government transactions (including those of international organisations) not contained in the other components of the Extended Balance of Payments Services classification (EBOPS). Included are all transactions (in both goods and services) by embassies, consulates, military units and defence agencies with residents of economies in which the embassies, consulates, military units and defence agencies are located and all transactions with other economies. Excluded are transactions with residents of the home economies represented by the embassies, consulates, military units and defence agencies, and transactions in the commissaries and post exchanges of these embassies and consulates.

A breakdown of this item into services transacted by Embassies and consulates (code 292), Services transacted by Military units and agencies (code 293) and Other government services (code 294) is required.

Income covers two types of transactions between residents and non-residents: (i) those involving compensation of employees, which is paid to non-resident workers (e.g. border, seasonal and other short-term workers), and (ii) those involving investment income receipts and payments on external financial assets and liabilities.

Compensation of employees comprises wages, salaries, and other benefits, in cash or in kind, earned by individuals, in economies other than those in which they are resident, for work performed for (and paid for by) residents of those economies. Included are contributions paid by employers, on behalf of employees, to social security schemes or to private insurance or pension funds (whether funded or unfunded) to secure benefits for employees.

Investment income is income derived from ownership of external financial assets and payable by residents of one economy to residents of another economy. Investment income includes interest, dividends, remittances of branch profits, and direct investors’ shares of the retained earnings of direct investment enterprises. Investment income should be classified by direct, portfolio and other investment components.

Direct investment income, namely income on equity and income on debt, covers income accruing to a direct investor resident in one economy from ownership of direct investment capital in an enterprise in another economy. Income on direct investment is presented on a net basis for both direct investment abroad and in the reporting economy (i.e. receipts of income on equity and income on debt less payments on income on equity and income on debt for each). Income on equity is subdivided into (i)  distributed income (dividends and distributed branch profits), and (ii) reinvested earnings and undistributed branch profits. Income on debt consists of interest payable, on intercompany debt, to/from direct investors from/to associated enterprises abroad. Income on non-participating preference shares is treated as interest income, rather than dividend income, and is included in income on debt.

Dividends, including stock dividends, are the distribution of earnings allocated to shares and other forms of participation in the equity of incorporated private enterprises, cooperatives, and public corporations. Distributed income may be in the form of dividends on common or preferred shares owned by direct investors in associated enterprises abroad, or vice versa.

Reinvested earnings comprise direct investors' shares - in proportion to equity held, of (i) earnings that foreign subsidiaries and associated enterprises do not distribute as dividends and (ii) earnings that branches and other unincorporated enterprises do not remit to direct investors. (If that part of earnings is not identified, all branch earnings are considered, by convention, to be distributed).

Income on debt consists of interest payable, on intercompany debt, to/from direct investors from/to associated enterprises abroad. Income on nonparticipating preference shares is treated as interest income, rather than dividend income, and is included in income on debt.

Equity capital comprises equity in branches, all shares (whether voting or non-voting) in subsidiaries and associates (except nonparticipating, preferred shares that are treated as debt securities and included under other direct investment capital), and other capital contributions. Reinvested earnings consist of the direct investor's share (in proportion to direct equity participation) of earnings not distributed as dividends by subsidiaries or associates and earnings of branches not remitted to the direct investor.

Equity capital comprises equity in branches, all shares (whether voting or non-voting) in subsidiaries and associates (except nonparticipating, preferred shares that are treated as debt securities and included under other direct investment capital), and other capital contributions. Reinvested earnings consist of the direct investor's share (in proportion to direct equity participation) of earnings not distributed as dividends by subsidiaries or associates and earnings of branches not remitted to the direct investor.

Portfolio investment income comprises income transactions between residents and non-residents and is derived from holdings of shares, bonds, notes, and money market instruments. This category is subdivided into income on equity (dividends) and income on debt (interest).

Other investment income covers interest receipts and payments on all other resident claims (assets) on and liabilities to non-residents, respectively. This category also includes, in principle, imputed income to households from net equity in life insurance reserves and in pension funds. Interest on assets comprises interest on long- and short-term loans, on deposits, on other commercial and financial claims, and on an economy’s creditor position in the IMF. Interest on liabilities covers interest on loans, on deposits, and on other claims and interest related to the use of IMF credit and loans form the IMF. Also included is interest paid to the IMF on the Fund's SDR holdings in the General Resources Account.

Current transfers are offset items to unilateral transactions in which one economic entity provides a real resource or a financial item to another entity without receiving any real resource or financial item in exchange. These resources are consumed immediately or shortly after the transfer is made. Current transfers are all transfers that are not capital. Current transfers are classified according to the sector of the compiling economy into general government and other sectors.

General government transfers comprise current international cooperation and cover current transfers, in cash or in kind, between governments of different economies or between governments and international organisations.

Current transfers between other sectors of an economy and non-residents comprise those occurring between individuals, between non-governmental institutions or organisations (or between the two groups), or between non-resident governmental institutions and individuals or non-governmental institutions.

The capital account covers all transactions that involve the receipt or payment of capital transfers and acquisition/disposal of non-produced, non-financial assets.

The financial account covers all transactions associated with changes of ownership in the foreign financial assets and liabilities of an economy. Such changes include the creation and liquidation of claims on, or by the rest of the world. All components are classified according to type of investment or by functional subdivision (direct investment, portfolio investment, financial derivatives, other investment, reserve assets).

Foreign direct investment is the category of international investment that reflects the objective of a resident entity in one economy (direct investor) obtaining a lasting interest in an enterprise resident in an economy other than that of the investor (direct investment enterprise). ‘Lasting interest’ implies the existence of a long-term relationship between the direct investor and the enterprise and a significant degree of influence by the investor on the management of the direct investment enterprise. Direct investment comprises the initial transaction between the two entities, that is, the transaction that establishes the direct investment relationship, and all subsequent transactions between them and among affiliated enterprises, both incorporated and unincorporated.

Direct investment is classified primarily on a directional basis, resident direct investment abroad and non-resident investment in the reporting economy.

Equity capital comprises equity in branches, all shares (whether voting or non-voting) in subsidiaries and associates (except nonparticipating, preferred shares that are treated as debt securities and included under other direct investment capital), and other capital contributions. Equity capital also covers the acquisition by a direct investment enterprise of shares in its direct investor.

Reinvested earnings consist of the direct investor's share (in proportion to direct equity participation) of earnings not distributed as dividends by subsidiaries or associates and earnings of branches not remitted to the direct investor. These reinvested earnings are recorded as income with an offsetting capital transaction.

Other direct investment capital (or intercompany debt transactions) covers the borrowing and lending of funds - including debt securities, suppliers’ credits and nonparticipating preferred shares (which are treated as debt securities), between direct investors and subsidiaries, branches, and associates. Debt claims on the direct investor by the direct investment enterprise are also recorded as direct investment capital.

Direct investment is classified primarily on a directional basis, resident direct investment abroad and non-resident investment in the reporting economy.

Equity capital comprises equity in branches, all shares (whether voting or nonvoting) in subsidiaries and associates (except non-participating, preferred shares that are treated as debt securities and included under other direct investment capital), and other capital contributions. Equity capital also covers the acquisition by a direct investment enterprise of shares in its direct investor.

Reinvested earnings consist of the direct investor’s share (in proportion to direct equity participation) of earnings not distributed as dividends by subsidiaries or associates and earnings of branches not remitted to the direct investor. These reinvested earnings are recorded as income with an offsetting capital transaction.

Other direct investment capital (or intercompany debt transactions) covers the borrowing and lending of funds, including debt securities, suppliers’ credits and non-participating preferred shares (which are treated as debt securities), between direct investors and subsidiaries, branches, and associates. Debt claims on the direct investor by the direct investment enterprise are also recorded as direct investment capital.

Portfolio investment covers transactions in equity and debt securities. Debt securities are subdivided into bonds and notes, money market instruments, and financial derivatives when the derivatives generate financial claims and liabilities. Unless they are categorised either as direct investment or as reserve assets.

A financial derivatives contract is a financial instrument that is linked to another specific financial instrument or indicator or commodity and through which specific financial risks (such as interest rate risk, foreign exchange risk, equity and commodity price risks, credit risks, etc.) can, in their own right, be traded in financial markets.

The other investment item is defined as a residual category that includes all financial transactions not covered in direct investment, portfolio investment, financial derivatives or reserve assets accounts.
