Balance of payments
The balance of payments is a statistical statement that systematically summarizes, for a specific time period, the economic transactions of an economy with the rest of the world. This statistic is a reference tool for the determination of economic and monetary policies.
Survey objectives
In order to have all the information necessary to establish the balance of payments of Luxembourg, a survey has been implemented among residents carrying out foreign transactions on a regularly and professional basis.
This survey focuses on international trade in services and has two major components:
Monthly survey: major companies in terms of international trade in services.
Annual survey: a sample of smaller companies.
The surveyed companies are required to report their operations abroad, broken down by economic nature and by country.
Surveys
Monthly survey on foreign transactions, focusing on international trade in services
Annual survey on foreign transactions, focusing on international trade in services
Methodological framework
The methodological framework is defined among others by the Balance of payments Manual (6th edition) of the International Monetary Fund, supplemented by guidelines from the European Central Bank and regulations from the European Commission (Eurostat).
In Luxembourg, the balance of payments is established since 1979 and the results are published on a quarterly basis..
Legal framework
Since 2002, the Banque centrale du Luxembourg (BCL) and the STATEC jointly establish the balance of payments of Luxembourg. The two institutions signed a memorandum of understanding, which refers to the legal basis, the law of the 28 June 2000. In accordance with the memorandum, reporting agents belonging to the non-financial sector are the responsibility of the STATEC.
Contact
A comprehensive collection of instructions is available to the reporting companies, who may also get assistance from the Helpdesk BOP :
- M. Martin Freiberg / tél : (+352) 247-84200
- M. Jeff Schmitt / tél. : (+352) 247-84200
- Email: balance@statec.etat.lu
Publications
Methodology
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