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[IWS] BEA: Important Notice! MODERNIZING BEA'S INTERNATIONAL ECONOMIC ACCOUNTS [15 September 2014]

IWS Documented News Service

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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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Modernizing BEA’s International Economic Accounts [15 September 2014]
http://www.bea.gov/international/modern.htm

The latest information on BEA’s efforts to modernize and enhance the International Economic Accounts.

Comprehensive Restructuring of the International Economic Accounts

BEA introduced a new presentation of the International Transactions Accounts (ITAs) on June 18, 2014 and a new presentation of the International Investment Position (IIP) accounts on June 30, 2014. These new presentations reflect a comprehensive restructuring of the international economic accounts that enhances the quality and usefulness of the accounts and brings the accounts into closer alignment with international guidelines. Additional information on the restructuring was published in the article “The Comprehensive Restructuring of the International Economic Accounts: Changes in Definitions, Classifications, and Presentations,Survey of Current Business, March 2014. Detailed discussions of the ITAs and the IIP accounts, including revisions to the statistics, were published in the articles “Comprehensive Restructuring and Annual Revision of the U.S. International Transactions Accounts” and “The U.S. Net International Investment Position at the End of the First Quarter of 2014, Year 2013, and Annual Revisions,” Survey of Current Business, July 2014.

*       View tables for the new presentations

*       Comparison of Previous Standard ITA Table 1 With New ITA Table 1.2 (PDF)

*       U.S. International Economic Accounts: Concepts and Methods

*       Factsheet on the Comprehensive Restructuring (PDF)

*       Webinar: Comprehensive Restructuring of the International Economic Accounts, May 28, 2014
- Recorded Webinar
(Streaming) | Slides from the Webinar (PDF) | Q&A from the Webinar (PDF)

Articles

Information on BEA’s plans to implement new international statistical standards and other improvements.

*       The Comprehensive Restructuring of the International Economic Accounts: Changes in Definitions, Classifications, and Presentations | SCB, March 2014

*       Modernizing and Enhancing BEA’s International Economic Accounts: A Progress Report and Plans for Implementation | SCB, May 2013

*       Modernizing and Enhancing BEA’s International Economic Accounts: A Progress Report | SCB, May 2012

*       Modernizing and Enhancing BEA’s International Economic Accounts: A Progress Report | SCB, May 2011

*       Modernizing and Enhancing BEA’s International Economic Accounts: Recent Progress and Future Directions | SCB, May 2010

Related Information

*       Key Aspects of U.S. Data and Metadata for CDIS - Presented at the CDIS Workshop in Luxembourg, June 8-10, 2011.
This presentation outlines the key aspects of the U.S. data submission for the IMF’s Coordinated Direct Investment Survey (CDIS).
Topics discussed include the type, characteristics, and sources of the data as well as BPM6 issues such as valuation methods and fellow enterprises.

*       Strategy for Implementing the Sixth Edition of the Balance of Payments and International Investment Position Manual - IMF Statistics Department (2009)

*       Balance of Payments and International Investment Position Manual, 6th edition – IMF (2009)

*       Benchmark Definition of Foreign Direct Investment, 4th edition – OECD (2008)

 

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