Balance of Payments and International Investment Position statistics (BoP/IIP) from IMF

From Wiki
Revision as of 18:14, 8 December 2016 by HarrySmythe (Talk | contribs)

Jump to: navigation, search

“The Balance of Payments provides a framework that is applicable for a range of economies, from the smallest and least developed economies to the more advanced and complex economies. As a result, it is recognized that some items may not be relevant in all cases.

The balance of payments is a statistical statement that summarizes transactions between residents and nonresidents during a period. It consists of the goods and services account, the primary income account, the secondary income account, the capital account, and the financial account.

Under the double-entry accounting system that underlines the balance of payments, each transaction is recorded as consisting of two entries and the sum of the credit entries and the sum of the debit entries is the same.

The different accounts within the balance of payments are distinguished according to the nature of the economic resources provided and received.”[1]

“The International Investment Position (IIP) is a statistical statement that shows at a point in time the value of:

Financial assets of residents of an economy that are claims on nonresidents or are gold bullion held as reserve assets; and the liabilities of residents of an economy to nonresidents. The difference between the assets and the liabilities is the net position in the IIP and represents either a net claim on or a net liability to the rest of the world. The IIP represents a subset of the assets and liabilities included in the national balance sheet. In addition to the IIP, the national balance sheet incorporates nonfinancial assets as well as financial assets and liabilities positions between residents.”

Availability and data source

The IMF data on balance of payments and international investment positions is available here- http://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52&ss=1409773422141

The data is prepared in accordance with the 6th edition of the Balance of Payments and International Investment Position Manual. The handbook can be accessed here, http://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52&ss=1390288795525

BoP data is available for approximately 204 economies, while IIP data is available for approximately 143 economies. Data is available for most countries from the year 1945.[2]

Definitions

BoP is a flow while IIP is a stock. Although the balance of payments accounts are, in principle, balanced, imbalances result in practice from imperfections in source data and compilation. This imbalance, a usual feature of balance of payments data, is labeled net errors and omissions and should be identified separately in published data. It should not be included indistinguishably in other items. Net errors and omissions are derived residually as net lending/net borrowing and can be derived from the financial account minus the same item derived from the current and capital accounts.[3]

Series available (BoP)

Sr no

Main series

Sub-category

 

1

Current Account

Goods and services

 

2

Current Account

Primary income

 

3

Current Account

Secondary Income

 

4

Current Account

supplementary items

 

5

Current Account

Current Account total (1+2+3+4)

 

6

Capital Account

Capital transfers

 

7

Capital Account

Gross acquisitions

 

8

Capital Account

supplementary items

 

9

Capital Account

Capital account total (6+7+8)

 

10

Net lending/ borrowing

Net lending/borrowing from Current and Capital accounts (5+9)

 

11

Financial account

Financial derivatives

 

12

Financial account

Other investment

 

13

Financial account

Portfolio investment

 

14

Financial account

Reserve assets

 

15

Financial account

supplementary items

 

16

Financial account

Total changes in assets and liabilities (11+12+13+14+15)

 

17

Net lending/ borrowing

Net lending/borrowing from Current and Capital accounts and financial accounts (10+16)

 

18

Net errors and omissions

Errors and omissions

 

 

Total Balance of payments (17+18)

 

 

 

Series available (IIP)

Sr no

Main series

sub-category

1

Assets

Direct investment

2

Assets

Financial assets

3

Assets

Financial derivatives

4

Assets

Other investment

5

Assets

Portfolio investment

6

Assets

Reserve assets

7

Assets

supplementary items

8

Assets

Total Assets (1+2+3+4+5+6+7)

9

Liabilities

Direct investment

10

Liabilities

Financial derivatives

11

Liabilities

Other investment

Instructions for Pulling BoP Raw Data

  1. Go to http://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52
  2. Click on "API & Bulk Download"
  3. Click on the "Bulk Download (entire dataset)" icon
  4. Login with your .edu email address. If you do not have one. You can set one up for free as long as you use and email that ends in ".edu"
  5. All countries is selected by default. Unless you are pulling specific countries, this is correct.
  6. Click on indicators and select the indicators of interest. The indicators above are all found under the first two tabs. Make sure you deselect the variables that are not of interest.
  7. Click okay. the download will begin.
  8. When the download is complete. You will receive an email, or you can click "My Data" in the top right hand corner.

References

  1. See the BoP “about” sheet <http://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52>
  2. Refer About BoP/IIP Geographic,temporal coverage <http://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52&sid=1409773422141&ss=1409773411929>
  3. Refer to “Balance of Payments and International Investment Positions Manual Version 6.”