1st meeting of the working party on international trade in goods and trade in services statistics -...
TRANSCRIPT
1st Meeting of the Working Party on International Trade in Goods and Trade in
Services Statistics - September 2008
Australia's experience (so far) in implementing BPM 6
Bernard WilliamsDirector
Balance of Payments and International Trade Statistics
ABS implementing BPM 6 and SNA 93 Rev. 1 for September quarter 2009considerable progress has been madea number of challenges remain
This presentation focusses on:processes usedissues faced
Overview
Organisational context
ABS releases Australia's key macro-economic statisticsnational accounts, balance of payments,
international investment position, financial accounts and government finance statistics
National and international accounts within the Macroeconomics and Integration Groupbut number of different sections
Organisational context (continued)
Source data for the accounts provided by:–areas within the Macroeconomics and Integration Group
–other areas of the ABS–a range of non-ABS sources
Organisational context (continued)
Source data for the accounts provided by:–areas within the Macroeconomics and Integration Group
–other areas of the ABS–a range of non-ABS sources
Main sources for Australia's BoP are:monthly merchandise trade statisticsquarterly Survey of International Trade in
Services.quarterly International Investment Survey
Principles
Standardsminimal departuresapplied consistentlyonly implemented after extensive consultation
and publicity
Principles
Standardsminimal departuresapplied consistentlyonly implemented after extensive consultation
and publicityTiming
implement changes to GDP at same time
Principles
Standardsminimal departuresapplied consistentlyonly implemented after extensive consultation
and publicityTiming
implement changes to GDP at same timeCoordination and consultation
central coordinationprovide clients with early adviceequal access to all clients
Governance
Overview by a high level internal ABS committee
Governance (continued)
Committee to oversee tactical aspects of the implementation:plan and coordinate ABS input to standardsforum for the discussion of key issuesensure appropriate consultation on key issuesfacilitate information sharingassess implications for ABS data collectionsplan and monitor progress on implementation
of new standards in macro-economic statistics and data collections
capturing outcomes to ensure successful and effective knowledge management
Phase 1 - Input to Development of International Standards2005 to 2007 - input to international standards
Five phase strategy
Five phase strategy (continued)
Phase 2 - Scopinginitial assessment of issuesstandard template developed
–the issue–lead area–stakeholders–relevant BPM 5 standard–current ABS practice–proposed BPM 6 standard–implications for ABS
Five phase strategy (continued)
Phase 3 Work Program Integration and Internal Communicationdetailed workplans preparedrecognise interdependencies between areas,
system redevelopment plans and other developments
Five phase strategy (continued)
Phase 4 External Communicationinformation paper releasedkey economic agencies contactedadditional information papers planned for 2009
Five phase strategy (continued)
Phase 5 Implementationby 2008-09 Annualsstill in progressdetailed work to modify or develop sources,
questionnaires, methods and outputsproducing necessary back series on the new
basisupdating reference material
Non essential development deferredAdditional development funding through the ABS internal budget
Additional funding received from the Australian government
Funding
Starting pointbasically fully implemented BPM 5foreshadowed some BPM 6 changes
Significant changes include:merchantinggoods for processinggreater detail for the international investment
positionchanged treatments to investment income
Implementing BPM 6
Trade in goodsprocedures for processing merchandise trade
datawill result in increased focus on certain series
For trade in services changes categorised underframesurvey designquestionnaire and explanatory notesmodelsother system changesoutput presentation
Implementing BPM 6 (continued)
Historical series revised to make the time series of estimates as continuous as possibleclassification changesnew seriesa standard approach to measuring shifts in the
level of series
Implementing BPM 6 (continued)
Generalstaffongoing statistical productionalignment with other significant changesfocus
Issues faced
Specific issues faced by the ABS included:2009 meant that not all decisions known earlyissues more complex than anticipatedcomplex relationship between commodity
classificationssize and complexity of the Survey of
International Investment
Issues faced (continued)
Challenges ahead
Other international standardsLead time required for compiling estimates on a new basis
Goods for processing
Challenges ahead (continued)
Goods for processingnegative service feesnot capturing goods exported from Australia
for processing and subsequent importationincomplete coveragepharmaceutical industry practices vary:
–actually taking ownership–no change of ownership occurring–consumed after processing
Customs based export and import documentation does not provide sufficient information
Conclusion
Plan on the basis of the entire set of macro-economic statistics rather than the separate components
Comprehensive change management processes established
Stakeholders both within and outside the ABS consulted
Establishing a set of principles provided a solid basis for decision making
Considerable challenge to keep data sources and models up-to-date