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Global Manufactoring and Foreign Trade Statistics
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  1. Global Manufactoring and Foreign Trade Statistics Why FTS cannotbethe (only) source. Simon Lohner, Deutsche Bundesbank

  2. Global ManufacturingData needed for BOP (and SNA) Information needed for the compilation of „Manufacturing service on physical inputs owned by others“: Processing fee paid to the processor (including the goods acquired by the processor Additional information needed in order to compile Merchandize trade correctly: Information about cross-border movement of goods without change of ownership Goods purchased and sold abroad by the „owner“ Simon Lohner, Deutsche Bundesbank

  3. Concept of Foreign Trade Statistics International merchandise trade statistics record all goods which add to or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory. This also includes goods for inward or outward processing.  No change-of-ownership-principle like BOP or SNA! Simon Lohner, Deutsche Bundesbank

  4. Link between FTS and Global ManufacturingCase 1: Classic Goods for Processing Movement of goods Payments FTS captures: Goods send abroadforprocessingandGoodsreturned after processing The differenceofvalueoftheGoodsreturnandGoods send istheprocessingfee. Country A Compiling Economy Country B Goods send abroad for processing (nature of transaction 41) Goods return abroad after processing (nature of transaction 51) Processing fee Simon Lohner, Deutsche Bundesbank

  5. Link between FTS and Global Manufacturing Case 2: Advanced Goods for Processing Movement of goods Payments FTS captures: Goods send abroadforprocessing Country A Compiling Economy Country B Country C Goods send abroad for processing (nature of transaction 42) Goods sold abroad after processing Processing fee Sale of goods Simon Lohner, Deutsche Bundesbank

  6. Link between FTS and Global Manufacturing Case 3: Global Manufactoring Movement of goods Payments FTS captures: nothing Country A Compiling Economy Country B Country C Purchase of goods Goods processed in Coutry B Goods sold abroad after processing Processing fee Sale of goods Simon Lohner, Deutsche Bundesbank

  7. Summary Case 1: The Processing Fee can be calculated as the difference of value of „Goods return after processing“ and „Goods send abroad for processing“ Case 2: Methodological FTS cannot deliver all needed information of the calculation of the Processing Fee. The sale abroad has to be captured with a different source (direct reporting?). The processing fee cannot be calculated as the difference of the value of “Goods sold abroad (direct reporting)” and “Goods send abroad for processing” as the “Goods sold abroad (direct reporting)” include a dealers margins and holding gains and losses (e.g. value change of gold).  Processing Fee has to be collected directly! Simon Lohner, Deutsche Bundesbank

  8. Summary Case 3: Methodological FTS cannot deliver any needed information of the calculation of the Processing Fee. The purchase and sale abroad has to be captured with a different source (direct reporting?). The processing fee cannot be calculated as the difference of the value of “Goods sold abroad (direct reporting)” and “Goods bought abroad (direct reporting)” as the “Goods sold abroad (direct reporting)” include a dealers margins and holding gains and losses (e.g. value change of gold).  Processing Fee has to be collected directly! Simon Lohner, Deutsche Bundesbank

  9. Conclusion By definition FTS captures only movement of goods related with the territory of the compiling country. Global Manufacturing is not necessarily involving the territory of the compiling country. FTS cannot be the source of the compilation of Global Manufacturing. Inconsistencies of the FTS to BOP and SNA are due to methodological reasons! Simon Lohner, Deutsche Bundesbank

  10. Conclusion From a BOP-point of view: FTS must deliver information about movements of goods without change of ownership (nature of transaction 41, 42, 51, 52). BOP has to capture the Processing Fee itself (similar to any other service). BOP has to capture the changes of ownerships of goods itself (similar to the gross flows of merchanting). Simon Lohner, Deutsche Bundesbank

  11. Thank you for your attention!Any Questions? Simon Lohner, Deutsche Bundesbank