Methodology of international trade in services by enterprise characteristics (STEC) compilation

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Date of publication: 06.08.2020

Foreign trade, understood as balance of income flow between residents and non-residents, constitutes, apart from consumption, investments and state expenditure for the purchase of goods, part of the gross national product (GNP). Compiling data on this phenomenon in a more comprehensive manner allows for a better understanding of the impact of foreign trade on economic development, employment and economic independence of individual countries.

The growing demand for data on foreign trade obliges domestic and international institutions responsible for collecting, compiling and publishing statistical data to create more and more new compilations of these data in order to better reflect the economic situation of individual countries or their groups. An example of such compilation is the data set on foreign trade in goods by enterprise characteristics (TEC[1]). As part of the statistics of international trade in services, such a task is to be fulfilled by the project Services trade by enterprise characteristics (STEC). Both TEC and STEC output data represent an important first step towards integration of international trade and business statistics. Plans for compilation of STEC tables are included in the Framework Regulation Integrating Economic Statistics (FRIBS), which is currently processed in the European Parliament.

 

[1] Trade by enterprise characteristics

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