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For any question on data and metadata, please contact: Eurostat user support |
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1.1. Contact organisation | Swiss National Bank, Börsenstrasse 15, CH-8022 Zurich |
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1.2. Contact organisation unit | Balance of Payments and Swiss Financial Accounts (Statistics) |
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1.5. Contact mail address | Swiss National Bank |
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2.1. Metadata last certified | 23/06/2023 | ||
2.2. Metadata last posted | 23/06/2023 | ||
2.3. Metadata last update | 23/06/2023 |
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3.1. Data description | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The different domains relevant for external sector statistics (Balance of Payments -BOP, International Investment Position - IIP, Foreign Direct Investment - FDI, and International Trade in Services - ITS) sent to Eurostat are based on the BOP Vademecum reflecting requirements laid down in the Regulation (EC) No 184/2005 on Community statistics concerning BOP, ITS, and FDI, as amended by the Commission Regulation (EU) No 555/2012 of 22 June 2012 and Regulation (EU) No 2016/1013 of the European Parliament and of the Council of 8 June 2016. These datasets are broadly in line with the sixth edition of the IMF’s Balance of Payments and International Investment Position Manual (BPM6), the OECD Benchmark Definition of Foreign Direct Investment (BD4) and the Manual on Statistics of International Trade in services 2010 (MSITS 2010). Quarterly BOP summarize transactions between residents and nonresidents during a specific period. BOP data consist of the goods and services account, the primary income account, the secondary income account, the capital account, and the functional categories of the financial account (direct investment, portfolio investment, financial derivatives and employee stock options, other investment and reserve assets). Differences between the current and capital account on the one hand and the financial account on the other hand are visible under Net errors and omissions that result from imperfections in source data, inconsistent reporting by enterprises and compilation issues. Quarterly IIP shows for a country all financial claims on nonresidents and a country’s liabilities to nonresidents at a certain point in time. The breakdown follows the functional categories of the financial account (direct investment, portfolio investment, financial derivatives (other than reserve assets) and employee stock options, other investment, and reserve assets). The sign of the balance shows whether the domestic economic sectors have a net creditor or net debtor position vis-à-vis other countries. The other changes in financial assets and liabilities accounts (revaluations due to exchange rate, revaluations due to other price changes and other changes in the volume) reconcile the balance of payments and IIP for a specific period, by showing changes due to economic events other than transactions between residents and nonresidents. Annual FDI statistics (consisting of financial account transactions, current account primary income figures and IIP position data) is a category of cross-border investment associated with a resident in one economy (direct investor) having control or a significant degree of influence on the management of an enterprise that is resident in another economy (direct investment enterprise). By convention, such a lasting interest exists when a direct investor owns 10% or more of the voting power or the equivalent (for an unincorporated enterprise). Operational definitions of control and influence are explained in BPM6 § 6.12. Furthermore, the definition of direct investment is the same as in the fourth edition of the OECD Benchmark Definition of Foreign Direct Investment. Annual ITS statistics record services transactions between residents and non-residents and cover the following categories: manufacturing services on physical inputs owned by others; Maintenance and repair services, not included elsewhere; transport; travel; construction; insurance and pension services; financial services; charges for the use of intellectual property, not included elsewhere; telecommunication, computer and information services; other business services; personal, cultural and recreational services; and government goods and services, not included elsewhere. The services categories are listed in the Extended Balance of Payments Services Classification (EBOPS 2010).
Specific information (Switzerland)
Please find more information here: Notes ‒ International economic affairs | SNB data portal |
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3.2. Classification system | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) Classification used for the BOP, IIP, FDI and ITS statistics are in broad conformity with guidelines outlined in the relevant manual (e.g., BPM6, BD4). Nonfinancial transactions in the BOP are generally grouped according to their nature and characteristics. Produced assets are covered in the goods and services account. Primary income captures returns for the provision of labour and financial assets and for renting of natural resources. Secondary income captures further redistribution of income through current transfers, such as by governments, private households or charitable organization in cash or in kind. The capital account is split into gross acquisitions and disposals of nonproduced nonfinancial assets and other capital transfers. Positions and flows of financial assets and liabilities are primarily grouped according to the BPM6 functional categories. Five functional categories of investment are distinguished: (a) direct investment, (b) portfolio investment, (c) financial derivatives (other than reserves) and employee stock options, (d) other investment, and (e) reserve assets. These functional categories reflect on economic motivations and patterns of behaviour. Positions, the associated income and financial account transactions, and other changes are based on three broad categories of financial assets and liabilities: (1) equity and investment fund shares, (2) debt instruments, and (3) other financial assets and liabilities. Annual FDI flows are classified according to the directional principle, that is grouping the FDI transactions according to the status of the resident entity; 1) FDI abroad, if the resident entity is the direct investor or, in the case of transactions between fellows companies, if the “Ultimate Controlling Parent (UCP)” is also located in the compiling economy, 2) FDI in the reporting economy, if the resident entity is the direct investment enterprise or, in the case of transactions between fellows companies, if the “Ultimate Controlling Parent (UCP)” is not located in the compiling economy. In the directional presentation, reverse investment can be seen as equivalent to the withdrawal of investment. The instrument classification differentiates between equity (other than reinvestment of earnings), reinvestment of earnings and debt instruments. Annual FDI income shows amounts payable and receivable between resident and non-resident entities in return for providing financial direct investment assets to the rest of the world, or incurring direct investment liabilities vis-à-vis the rest of the world. The instrument classification differentiates between dividends, reinvested earnings, and income on debt. FDI positions are also classified according to the directional principle, split into net FDI positions abroad and net FDI positions in the reporting economy. The instrument classification differentiates between equity (including reinvested earnings) and debt instruments. For all FDI statistics, the geographical allocation is made according to the economic residence of the immediate direct investor or immediate direct investment enterprise, and the recommended classification by activity is that of the direct investment enterprise (to avoid asymmetry issues). The industrial activity level is based on ISIC4/NACE Rev.2. International Trade in Services data are presented in line with the Extended Balance of Payments Services Classification (EBOPS 2010). Known deviations: Regulation (EU) No 549/2013 (ESA2010) (par. 5.119) and the BPM6 Manual (par. 5.42) provide that funds between deposit-taking corporations are always recorded as deposits. Concerning deposit/loans liabilities of deposit-taking corporations to other counterparts, BPM6 foresees the additional convention that these are to be recorded as deposits, irrespective of the maturity, while ESA 2010 restricts this to short-term funds. Concerning deposit/loans assets of deposit-taking corporations vis-à-vis other counterparts BPM6 foresees the additional convention that these are to be recorded as loans, while ESA 2010 (in § 5.118) makes a similar reference for short-term loans. Specifically for euro area: The definition of reserve assets is in line with BPM6 guidelines. However, as a member of the euro area, the definition of monetary reserves in a MS’s BOP includes (inter alia) only those liquid claims denominated in foreign currency that the MS’s central bank holds on non-euro area residents. Claims on residents of other euro area countries, regardless of the currency, are part of other external assets.
Specific information (Switzerland) The methodological framework follows the Balance of Payments and International Investment Position Manual (BPM6) as well as the OECD guidelines (Benchmark Definition of Foreign Direct Investment, 4th edition). |
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3.3. Coverage - sector | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) Institutional units are grouped into institutional sectors according to similar economic objectives, functions, and behaviour. The sector classifications based on the BOP Vademecum are: Central bank (S.121); Monetary Financial Institutions (MFI) other than central bank (S.122) (incl. Deposit-taking corporations except the central bank; Money Market Funds (S.123)); General government (S.13); and Other sectors. The Other Sectors consist of Financial Corporations other than MFIs (S.12); Non-Financial Corporations (S.11); Households (S.14); and Non-profit institutions serving households (S.15). Exception to BPM6: A deviation from the BPM6 sector classification is that Money Market Funds are part of Other sectors (in BPM6) whereas they are part of the MFI sector for European Statistics according to the Vademecum.
Specific information (Switzerland)
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3.4. Statistical concepts and definitions | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The overall conceptual framework of BOP, IIP, FDI and ITS are in broad conformity with the most recent manuals as well as the EC Guidelines and Eurostat’s Vademecum. Statistical concepts and definitions relate to basic internationally accepted standards and guidelines for external sector statistics; for instance:
Known Deviation (Source: Vademecum): BOP/IIP data are to be compiled following the debtor/creditor approach, instead of the “transactor” approach. In other words, the geographical allocation of assets/credits is to be done on the basis of the residency of the issuer/debtor and not of the “transactor”. This is particularly relevant for portfolio and direct investment functional categories, which record tradable instruments. This approach is to be followed consistently in the geographical and sector allocation of investment income, financial transactions and stocks.
Specific information (Switzerland) The general principles laid down in the BPM6 and BMD5 (relating to FDI) and are striclty applied to our data.
Specific information concerning BOP components Current Account
Capital account
Financial Account
Please find more information about the components, their sources and their characteristics in our Notes. |
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3.5. Statistical unit | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) Institutional units are defined in conformity with BPM6 and relate to those that have a predominant centre of economic interest in the country. In principle, any individual, corporation or other institution that provides information on the transactions/positions between the residents and non-residents of a country during a given period is included. Resident institutional units engaged with nonresidents also cover in principle:
Specific information (Switzerland) Any individual, corporation or other institution that provides information on the transactions or positions between the residents and non-residents of a country during a given period. |
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3.6. Statistical population | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) n/a
Specific information (Switzerland) BOP statistical population includes all the economic transactions and positions between residents and non-residents. The coverage of the statistical population assured by the reported transactions and positions can be very different for different BOP items. Information on the transactions and positions can be provided by individuals, corporations or institutions. |
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3.7. Reference area | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The reference area describes the geographical area covered by the data disseminated. According to the BOP Vademecum, the reference area is the economic territory, country, or region for which external sector statistics are provided. The country code list follows the ISO 3166-1 alpha-2 classification and is a "cross-domain" code list, used also in National Accounts. The codes used for various regional groupings are harmonized across international agencies that use the BOP-DSD.
Specific information (Switzerland) The reference area for Switzerland includes Switzerland and Liechtenstein.
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3.8. Coverage - Time | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) n/a
Specific information (Switzerland)
Data are available here:
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3.9. Base period | ||||||||||||||||||||||||||||||||||||||||
Not applicable. |
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General information (Eurostat) All data sent to Eurostat are in Millions of Euro for Euro Area countries and in Millions of National currency for non-Euro Area countries. The unit of dissemination is Euro.
Specific information (Switzerland) Data are measured in Swiss Francs. |
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General information (Eurostat) The quarterly (QBOP) BOP, and quarterly FDI transactions summarize economic transactions between residents and nonresidents during the respective reference period. The annual ITS dataset summarizes services transactions over the period of one year. The quarterly IIP statement as well as the annual FDI stock statistics refer to a point in time at the end of the reference period; i.e., the last day of a quarter or year, respectively. The other changes in financial assets and liabilities of the IIP statement (revaluations due to exchange rate, revaluations due to other price changes and other changes in the volume) reconcile the BOP and IIP during a specific period.
Specific information (Switzerland)
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6.1. Institutional Mandate - legal acts and other agreements | |||
General information (Eurostat) Institutional Mandate at European level
Specific information (Switzerland) Institutional mandate at national level: Swiss National Bank (SNB) - Constitution and laws
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6.2. Institutional Mandate - data sharing | |||
not applicable |
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7.1. Confidentiality - policy | |||
Specific information (Switzerland) Application of strict primary and secondary confidentiality rules. |
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7.2. Confidentiality - data treatment | |||
General information (Eurostat) BOP Vademecum (2021): Chapter V “Statistical confidentiality” of Regulation (EC) No 223/2009 of the European Parliament and of the Council of 11 March 2009 on European statistics regulates protection and transmissions of confidential data within ESS and ESCB. Confidentiality status attribute is mandatory in BOP and FDI DSDs and thus each observation has to be flagged with a confidentiality status. When the information is already released and disseminated by the national compiler (e.g. it is published on the national compiler's website) applying confidentiality status attributes such as C "Primary confidential statistical information", D “secondary confidentiality set and managed by the national compiler” or N "Not for publication, restricted for internal use only" is not justified. Quality issues should be much less frequent for quarterly BOP and IIP data. The confidentiality status attribute "Not for publication, restricted for internal use only" - N flag – shall be used conservatively and rather in cases of more detailed breakdowns (e.g. geographical, instrument or sector breakdown). Using confidentiality status (C or D or N flags) to suppress publication of data with insufficient quality should be avoided. Observation status with U flag (low reliability) should be used instead. This would indicate existing observations and, at the same time, users will be aware of the low quality assigned.
Specific information (Switzerland) No complementary information.
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7.2.1. Confidentiality - data treatment percentage of free cells | |||
General information (Eurostat) This indicator refers to Eurostat Quality Report Chapter 1.1.2.The analysis in this section focuses on the availability of the data to the users. The tables present the number of cells flagged as confidential and non - publishable, compared with the total number of cells that have to be provided according to the BOP Regulation.
Specific information (Switzerland)
Specific information on Switzerland from the Quality Report 2023
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8.1. Release calendar | |||
General information (Eurostat)
Specific information (Switzerland)
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8.2. Release calendar access | |||
Specific information (Switzerland)
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8.3. Release policy - user access | |||
Specific information (Switzerland)
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Specific information (Switzerland)
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10.1. Dissemination format - News release | |||
Specific information (Switzerland)
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10.2. Dissemination format - Publications | |||
Specific information (Switzerland)
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10.3. Dissemination format - online database | |||
General information (Eurostat) At Eurostat, the database for external sector statistics gives access to the following statistics:
Harmonized data is available for the European Union, the euro area, the EU Member States, the United Kingdom, EFTA countries, candidate and potential candidate countries. https://ec.europa.eu/eurostat/web/balance-of-payments/data/database
Specific information (Switzerland)
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10.3.1. Data tables - consultations | |||
Specific information (Switzerland) n/a |
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10.3.2. Data accessibility at the national level | |||
Specific information (Switzerland) All data are accessable on the SNB data portal of the Swiss National Bank (SNB) |
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10.4. Dissemination format - microdata access | |||
Specific information (Switzerland) No microdata are accessible. |
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10.5. Dissemination format - other | |||
Specific information (Switzerland)
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10.5.1. Metadata - consultations | |||
Specific information (Switzerland) Not applicable. |
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10.6. Documentation on methodology | |||
Specific information (Switzerland)
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10.6.1. Metadata completeness - rate | |||
Specific information (Switzerland) Not applicable. |
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10.7. Quality management - documentation | |||
Specific information (Switzerland) Not applicable. |
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This indicator refers to the quality assurance framework (QAF) in place within an organisation to manage the quality of statistical products and processes. |
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11.1. Quality assurance | |||
Specific information (Switzerland) Quality is assured by the strict application of concepts according to the international standards (e.g. BPM6, OECD guidelines). |
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11.2. Quality management - assessment | |||
Specific information (Switzerland) Assessing quality overall, it has to be taken into account that Switzerland has several derogations from data transmissions, for example several series for FDI data.
Specific information on Switzerland from the Quality Report 2023 Follow up of last years's Eurostat assessment
Overall assessment
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To guarantee the quality of results, European statistics shall be developed, produced and disseminated on the basis of uniform standards and of harmonised methods. In this respect, Regulation (EC) No 223/2009 of the European Parliament and of the Council quality criteria (a) ‘relevance’ refers to the degree to which statistics meet current and potential needs of the users. Meeting the requirements of the EC Regulation on community statistics concerning balance of payments, international trade in services and foreign direct investment confirms relevance for the user “Eurostat” as recipient of the data sets on behalf of its user community. Furthermore, relevance is also indirectly accomplished by countries participating in domain specific committees and working groups as well as the worldwide update of the manuals whose aim it is to keep the standards and statistics as relevant as possible going forward. |
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12.1. Relevance - User Needs | ||||||||||||||||||||||||||||||||||||||||||||
Specific information (Switzerland)
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12.2. Relevance - User Satisfaction | ||||||||||||||||||||||||||||||||||||||||||||
Specific information (Switzerland) Not applicable. |
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12.3. Completeness | ||||||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) This section refers to the current Eurostat Quality Report 1.1.1. Data availability- completeness. |
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12.3.1. Data completeness - rate | ||||||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) Data completeness – the provided cells expressed as % of required cells refers to the completeness of BOP, IIP, FDI and ITS data provided to Eurostat based on the requirements of the BOP Regulation.
Specific information on Switzerland from the Quality Report 2023
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Accuracy of data is the closeness of computations or estimates to the exact or true values that the statistics were intended to measure. Accuracy is being measured using three concepts: Reliability; Vintage Analysis; and Plausibility. See 13.1. This section refers to the current Eurostat Quality Report Chapter 2. |
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13.1. Accuracy - overall | |||
General information (Eurostat) (i) Accuracy can be measured using the concept of Reliability - defined as the closeness of the initial estimated value to the subsequent estimated value. This section refers to the current Eurostat Quality Report 2.1.1. Quantitative assessment of revisions. Complementary information on Revisions are also provided under S17 Data Revision. The quantitative analysis focuses on the size of revisions, their direction and the reliability of trends using the data provided by countries to Eurostat. For the Monthly BOP, Quarterly BOP and Quarterly IIP items, revisions are assessed using two types of indicators both of which are based on the comparison between first and last assessments: - Directional stability indicators measure how often the first assessment is subsequently revised in the same direction (the upward revisions ratio and the directional reliability indicator). - Relative size indicators measure the difference between the first and the last assessments. These absolute differences may be quantified relative to the underlying series (when strictly positive) or to the underlying outstanding amounts. These indicators are the symmetric mean absolute percentage ratio, mean absolute comparative ratio and for net/balance series the net relative revisions. (ii) Accuracy can be measured using the concept of Vintage Analysis. This section refers to the current Eurostat Quality Report 2.1.2 Vintage Analysis. For the assessment of annual data (ITSS, credit and debit, FDI flows and positions, inward and outward), the analysis focuses on the differences between the values as reported in the last 4 data deliveries to Eurostat. The counterpart area is Extra EU27 and Rest of the World. (iii) Accuracy can be measured using the concept of Plausibility – referring to the absence of unexplained changes. This section refers to the current Eurostat Quality Report 2.2. Plausibility. This concept calculates the share of unallocated partner or activity from total (%) for ITS, FDI flows and positions.
Specific information (Switzerland)
Specific information on Switzerland from the Quality Report 2023
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13.2. Sampling error | |||
Specific information (Switzerland) Not applicable. |
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13.2.1. Sampling error - indicators | |||
Specific information (Switzerland) Not applicable. |
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13.3. Non-sampling error | |||
Specific information (Switzerland) Not applicable. |
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13.3.1. Coverage error | |||
Specific information (Switzerland) Not applicable. |
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13.3.1.1. Over-coverage - rate | |||
Specific information (Switzerland) Not applicable. |
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13.3.1.2. Common units - proportion | |||
Specific information (Switzerland) Not applicable. |
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13.3.2. Measurement error | |||
Specific information (Switzerland) Not applicable. |
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13.3.3. Non response error | |||
Specific information (Switzerland) Not applicable. |
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13.3.3.1. Unit non-response - rate | |||
Specific information (Switzerland) Not applicable. |
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13.3.3.2. Item non-response - rate | |||
Specific information (Switzerland) Not applicable. |
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13.3.4. Processing error | |||
Specific information (Switzerland) Not applicable. |
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13.3.5. Model assumption error | |||
Specific information (Switzerland) Not applicable. |
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14.1. Timeliness | |||
General information (Eurostat) According to the provisions of the Commission Regulation (EU) No 184/2005 and ECB Guideline ECB/2011/23 datasets are reported by countries to Eurostat with the following timeliness: The BOP regulation defines the timeliness and sets the deadlines for the data transmission to Eurostat as follows:
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14.1.1. Time lag - first result | |||
Specific information (Switzerland)
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14.1.2. Time lag - final result | |||
Specific information (Switzerland)
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14.2. Punctuality | |||
Please see below. |
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14.2.1. Punctuality - delivery and publication | |||
General information (Eurostat) This indicator refers to Eurostat Quality Report 3.1 Punctuality. Punctuality is calculated as the actual date of data delivery minus the scheduled date of transmission to Eurostat. It shows how many calendar days this was behind (positive value) or ahead of (negative value) the legal deadline.
Specific information on Switzerland from the Quality Report 2023
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Coherence refers to the adequacy of the data to be reliably combined in different ways and for various uses. In the Eurostat Quality Report, the analysis of coherence focuses on two aspects: internal consistency, that examines to which extent data are coherent within the dataset, and external consistency, that examines to which extent data are coherent with others statistics (e.g., NA) obtained by different sources or within different statistical frameworks. Comparability refers to the measurement of the impact of differences in applied statistical concepts and methodologies, measurement tools and procedures applied, when statistics are compared between geographical areas, sectoral domains (e.g., with QSA, ITGS data) or over time. |
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15.1. Comparability - geographical | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) This indicator refers to Chapter 5.3.1 and the corresponding tables of the Eurostat Quality Report: Asymmetries with regard to main ITS and FDI items. Further information and country-specific feedback is provided below. |
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15.1.1. Asymmetry for mirror flow statistics - coefficient | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) This section refers to the current Eurostat Quality Report 5.3.1. Bilateral Intra-EU asymmetries are presented in Annex 3 to the Eurostat Quality report. Asymmetries are the result of differences in measurement, in the procedures applied and in the interpretation of statistical concepts. Thus, asymmetries can be regarded as a measure of comparability. National compilers are encouraged to perform regular checks of their FDI transactions and positions through the FDI network and possibly conduct bilateral exercises to reduce asymmetries in services.
Specific information on Switzerland from the Quality Report 2023
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15.2. Comparability - over time | ||||||||||||||||||||||||||||||||||||||||
Specific information (Switzerland)
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15.2.1. Length of comparable time series | ||||||||||||||||||||||||||||||||||||||||
Specific information (Switzerland)
More information on our data availability and breakdown. Data are available here:
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15.2.2. Methodological comparability | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) Methodological guidelines for compiling BOP, IIP, FDI and ITS statistics are defined by the BPM6, the Manual on Statistics of International Trade in Services of the United Nations, and the OECD Benchmark Definition of Foreign Direct Investments (BD4). |
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15.2.2.1. Conceptual framework | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) Methodological guidelines for compiling BOP, IIP, FDI and ITS statistics are defined by the BPM6, the Manual on Statistics of International Trade in Services of the United Nations, and the OECD Benchmark Definition of Foreign Direct Investments (BD4). |
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15.2.2.2. Goods account | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology for Goods and Services is outlined in Chapter 10 of the IMF BPM6. For community statistics, countries are expected to record different values for Goods “national” and “community” concepts, if applicable.
Specific information (Switzerland)
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15.2.2.3. Services account | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology for Goods and Services is outlined in Chapter 10 of the IMF BPM6.
Specific information (Switzerland)
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15.2.2.4. Primary Income | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology for Primary Income is outlined in Chapter 11 of the IMF BPM6.
Specific information (Switzerland)
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15.2.2.5. Secondary Income | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology for Secondary Income is outlined in Chapter 12 of the IMF BPM6.
Specific information (Switzerland)
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15.2.2.6. Capital account | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology for the Capital Account is outlined in Chapter 13 of the IMF BPM6.
Specific information (Switzerland)
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15.2.2.7. Direct investments | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology for Direct Investment is outlined in Chapters 6, 8 and Appendix 6 of the IMF BPM6.
Specific information (Switzerland)
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15.2.2.8. Portfolio investments | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology for Portfolio Investment is outlined in Chapters 6, and 8 of the IMF BPM6.
Specific information (Switzerland)
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15.2.2.9. Other investments | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology for Other Investment is outlined in Chapters 6, and 8 of the IMF BPM6.
Specific information (Switzerland)
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15.2.2.10. Financial derivatives | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology for Financial Derivatives is outlined in Chapters 6, and 8 of the IMF BPM6.
Specific information (Switzerland)
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15.2.2.11. Other methodological deviations | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology is outlined in the IMF BPM6 and the compilation guide.
Specific information (Switzerland)
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15.2.2.12. Other changes during the reference year | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) The methodology is outlined in the IMF BPM6 and the compilation guide.
Specific information (Switzerland)
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15.3. Coherence - cross domain | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) These indicators refer to Chapter 6 and the corresponding tables of the Eurostat Quality Report: Coherence. The comparability between BOP, IIP, FDI, ITS and National accounts is ensured by the application of common concepts and definitions of BPM6 and the 2008 SNA/ESA 2010. Further information and country-specific feedback is provided below.
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15.3.1. Coherence - sub annual and annual statistics | ||||||||||||||||||||||||||||||||||||||||
Not applicable. |
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15.3.1.1. BOP/ITGS reconciliation table | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) This indicator refers to Eurostat Quality Report Chapter 6.2.1: BOP/ITGS reconciliation. The corresponding table – to be completed by countries is part of the Quality Report Annex 2 and is included in the Metadata Handler in form of a separate Excel Sheet. ITGS cover goods “which add to or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory” (United Nations IMTS: Concepts and Definitions 1998, paragraph 14). This basis differs from the change of ownership between residents and nonresidents required for BOP, so adjustments are needed. Please refer to BPM6 § 10.17 for cases that are included in the BOP definition of general merchandise because there is a change of ownership of goods between a resident and a nonresident. Please refer to BPM6 § 10.22 for items to be excluded from general merchandise because there is no international transaction because there is no change of ownership of goods between a resident and a nonresident, or because the goods have no value.
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15.3.2. Coherence - National Accounts | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) This indicator refers to Eurostat Quality Report Chapter 6.2.2: Consistency with National Accounts. The corresponding tables in the Eurostat Quality Report assess the external consistency between the BOP and Rest-of-the-World Account in NA. As the concepts for the BOP and NA accounting frameworks are, in principle, consistent with one another, an assessment of the consistency concludes on how far these two accounting frameworks have been consolidated with each other. |
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15.4. Coherence - internal | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) These indicators refer to Chapter 6 and the corresponding tables of the Eurostat Quality Report: Coherence.
Specific information on Switzerland from the Quality Report 2023 We noted that in the tables provided by Eurostat values for ITS and FDI flows and positions are missing: We guess this is because Eurostat could not take into account the annual FDI data for 2021, that were part of the transmission that took place in December (in agreement with Eurostat). |
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15.4.1. Consistency between quarterly and annual data | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) This indicator refers to Eurostat Quality Report Chapter 6.1.2 Consistency between quarterly and annual data: The Quality Report Tables monitor the progress made in aligning quarterly and annual data. For example, ITS and FDI annual data are compared with the sum of the corresponding four quarters for partners Extra EU27 and Rest of the World.
Specific information on Switzerland from the Quality Report 2023
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15.4.2. Consistency between quarterly and monthly data | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) This indicator refers to Eurostat Quality Report Chapter 6.1.3 Consistency between quarterly and monthly data: Quarters are compared with the sum of the corresponding three months for partners Extra EU27 and Rest of the World for Goods, Services and Secondary Income and partner Rest of the World for Primary Income. The discrepancy, computed as difference between the sum of the monthly and the quarterly data, is also shown as a share of the quarterly value.
Specific information on Switzerland from the Quality Report 2023
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15.4.3. Consistency between BoP and IIP | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) This indicator refers to Eurostat Quality Report Chapter 6.1.4 Consistency between BOP and IIP figures.
Specific information on Switzerland from the Quality Report 2023
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15.4.4. Errors and Omissions | ||||||||||||||||||||||||||||||||||||||||
General information (Eurostat) This indicator refers to Eurostat Quality Report Chapter 6.1.5 Errors and Omissions (E&O). Although the BOP accounts are, in principle, balanced, imbalances result in practice from imperfections in source data and compilation. This imbalance is labelled net errors and omissions. According to BPM6 § 2.25, “a consistent sign indicates a bias in one or more components. A persistent positive value of net errors and omissions suggests that credit entries have been understated or omitted or debit entries have been overstated. In contrast, a volatile pattern may suggest timing problems. However, although net errors and omissions can help point to some problems, it is an incomplete measure because errors and omissions in opposite directions offset each other.” The size and the sign of the E&O item are analysed in the Eurostat Quality Report Tables.
Specific information on Switzerland from the Quality Report 2023
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Specific information (Switzerland) Not applicable. |
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17.1. Data revision - policy | |||
General information (Eurostat) Source: A Harmonised European Revision Policy for Macroeconomic Statistics; CMFB October 2017. Macroeconomic statistics, such as national accounts, the balance of payments and the international investment position, are produced from a large variety of data sources. These data sources are reconciled using an approach based on an agreed set of international guidelines. The sources used to estimate macroeconomic aggregates are provided with varying degrees of timeliness, taking up to three years or more in the case of structural sources. As users need national and international data as fast as possible, particularly on certain key aggregates like gross domestic product (GDP), data are produced using the sources and related indicators that are more readily available. As more complete data are obtained from these sources in due course and the structural sources are made available, the statistics are updated to incorporate the new information. Such revisions of macroeconomic statistics are necessary to improve quality, but can be inconvenient for users. To minimise this inconvenience, revisions should ideally be coordinated within one country, across different statistics, and then across countries. International comparability – and the compilation of EU and euro area aggregate statistics – is hampered when different revision policy schemes are applied in different countries. As the schedule of revision of national accounts and balance of payments statistics varies from country to country, this creates inconsistencies among different statistical domains. The European Statistical System (ESS) and the European System of Central Banks (ESCB) try to strike the right balance between incorporating the necessary statistical revisions and maintaining an acceptable degree of consistency across domains and countries. To this end, the two systems have worked together to draw up guidelines for a harmonised revision policy for macroeconomic statistics. A distinction should be made between 'routine' revisions and 'major' or 'benchmark' revisions. Routine revisions refer to the changes made to the economic data published initially and to its subsequent releases for a particular reference quarter or year. The earlier estimates typically undergo the most significant revision. In routine revisions, the number of past periods being revised (the 'depth' of the revision) is typically relatively limited. Benchmark revision is carried out at much longer time intervals. Its purpose is to incorporate the main new data sources and major changes in international statistical methodology (such as ESA 2010 or BPM6). In benchmark revision, many years are open for revision in order to create the longest possible consistent time series. The National Statistical Offices and the National Central Banks are not legally bound by this common policy, but voluntarily agree to it and commit to gradually implement it with the aim of delivering more consistent statistics to users. The level of adherence to the guidelines of countries' revision policies will be monitored regularly.
Specific information (Switzerland)
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17.2. Data revision - practice | |||
Specific information (Switzerland)
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17.2.1. Data revision - average size | |||
Specific information (Switzerland) Please refer for further information to chapter "2.1.1 Quantitative Assessment of Revisions" in Eurostat's Quality Report. |
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18.1. Source data | |||
General information (Eurostat) This quality concept refers to whether the composition of data sources (surveys, ITRS (International Transactions Reporting System), administrative data, ITGS, monetary and financial statistics, etc.), in principle, sufficiently covers the compilation of BOP, IIP, FDI and ITS. |
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18.1.1. Source data-Detail | |||
General information (Eurostat) Please refer to Table Data-Sources Detail. |
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18.2. Frequency of data collection | |||
Specific information (Switzerland)
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18.3. Data collection | |||
General information (Eurostat) The following sub-categories refer to the Extended Balance of Payments Services Classification (EBOPS 2010) data collection. The EBOPS 2010 classification provides a breakdown of the Balance of Payments Trade in Services items (debit and credit) as defined in BPM6, by types of services. The classification thereby meets a number of user requirements, including the provision of more detailed information on Trade in services as required in connection with the General Agreement on Trade in Services (GATS). EBOPS 2010 is a primarily product-based classification of types of services, which in many cases may be described in terms of international classification of products as contained in CPC Ver. 2. However, the classification also includes transaction-based criteria (for example, Travel, Government services, and Construction Services). |
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18.3.1. Average on credits and debits | |||
Specific information (Switzerland) n/a
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18.3.2. EBOPS 2010 transactions performed according to the center of predominant economic interest (residence) of units | |||
Specific information (Switzerland) Yes |
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18.3.3. EBOPS 2010 transactions on the basis of market prices | |||
Specific information (Switzerland) Yes |
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18.3.4. EBOPS 2010 transactions on accrual basis | |||
Specific information (Switzerland) Yes |
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18.3.5. Market exchange rate prevailing on the transaction dates | |||
Specific information (Switzerland) Yes |
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18.3.6. EBOPS 2010 items do you compile data broken down by partner country | |||
Specific information (Switzerland)
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18.3.7. Information on ITS for categories beyond EBOPS 2010 and its complementary groupings | |||
Specific information (Switzerland) No |
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18.4. Data validation | |||
Specific information (Switzerland) All data pass through a number of checks. These checks verify e.g. the plausibility of the data, internal consistency, presence of outliers and size of revisions. |
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18.5. Data compilation | |||
Specific information (Switzerland) Not applicable. |
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18.5.1. Imputation - rate | |||
Specific information (Switzerland) Not applicable. |
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18.6. Adjustment | |||
Specific information (Switzerland) No adjustments are done. |
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18.6.1. Seasonal adjustment | |||
Specific information (Switzerland) No adjustments are done. |
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BPM6_NSI_2_CH_2022_0000_an5_SNB |