Transcript Implementing BPM 6 (continued)

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 Williams
Director
Balance of Payments and International Trade
Statistics
Overview
ABS implementing BPM 6 and SNA 93 Rev.
1 for September quarter 2009
considerable progress has been made
a number of challenges remain
This presentation focusses on:
processes used
issues faced
Organisational context
ABS releases Australia's key macroeconomic statistics
national accounts, balance of payments,
international investment position, financial
accounts and government finance statistics
National and international accounts within
the Macroeconomics and Integration Group
but 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 statistics
quarterly Survey of International Trade in
Services.
quarterly International Investment Survey
Principles
Standards
minimal departures
applied consistently
only implemented after extensive consultation
and publicity
Principles
Standards
minimal departures
applied consistently
only implemented after extensive consultation
and publicity
Timing
implement changes to GDP at same time
Principles
Standards
minimal departures
applied consistently
only implemented after extensive consultation
and publicity
Timing
implement changes to GDP at same time
Coordination and consultation
central coordination
provide clients with early advice
equal 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 standards
forum for the discussion of key issues
ensure appropriate consultation on key issues
facilitate information sharing
assess implications for ABS data collections
plan and monitor progress on implementation
of new standards in macro-economic statistics
and data collections
capturing outcomes to ensure successful and
effective knowledge management
Five phase strategy
Phase 1 - Input to Development of
International Standards
2005 to 2007 - input to international standards
Five phase strategy (continued)
Phase 2 - Scoping
initial assessment of issues
standard 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 Communication
detailed workplans prepared
recognise interdependencies between areas,
system redevelopment plans and other
developments
Five phase strategy (continued)
Phase 4 External Communication
information paper released
key economic agencies contacted
additional information papers planned for 2009
Five phase strategy (continued)
Phase 5 Implementation
by 2008-09 Annuals
still in progress
detailed work to modify or develop sources,
questionnaires, methods and outputs
producing necessary back series on the new
basis
updating reference material
Funding
Non essential development deferred
Additional development funding through the
ABS internal budget
Additional funding received from the
Australian government
Implementing BPM 6
Starting point
basically fully implemented BPM 5
foreshadowed some BPM 6 changes
Significant changes include:
merchanting
goods for processing
greater detail for the international investment
position
changed treatments to investment income
Implementing BPM 6 (continued)
Trade in goods
procedures for processing merchandise trade
data
will result in increased focus on certain series
For trade in services changes categorised
under
frame
survey design
questionnaire and explanatory notes
models
other system changes
output presentation
Implementing BPM 6 (continued)
Historical series revised to make the time
series of estimates as continuous as
possible
classification changes
new series
a standard approach to measuring shifts in the
level of series
Issues faced
General
staff
ongoing statistical production
alignment with other significant changes
focus
Issues faced (continued)
Specific issues faced by the ABS included:
2009 meant that not all decisions known early
issues more complex than anticipated
complex relationship between commodity
classifications
size and complexity of the Survey of
International Investment
Challenges ahead
Other international standards
Lead time required for compiling estimates
on a new basis
Goods for processing
Challenges ahead (continued)
Goods for processing
negative service fees
not capturing goods exported from Australia
for processing and subsequent importation
incomplete coverage
pharmaceutical industry practices vary:
–actually taking ownership
–no change of ownership occurring
–consumed after processing
Customs based export and import
documentation does not provide sufficient
Conclusion
Plan on the basis of the entire set of macroeconomic 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