Balance of Payments and International Investment Position statistics (BoP/IIP), IMF

Summary

The Balance of Payments (BoP) provides a framework that is applicable for a range of economies, from the smallest and least developed economies to the more advanced and complex economies. As a result, it is recognized that some items may not be relevant in all cases.

The IMF data on balance of payments and international investment positions is available here- http://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52&ss=1409773422141

The data is prepared in accordance with the 6^th edition of the Balance of Payments and International Investment Position Manual. The handbook can be accessed here, http://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52&ss=1390288795525

BoP data is available for approximately 204 economies, while IIP data is available for approximately 143 economies. Data is available for most countries from the year 1945.

Definitions

BoP is a flow while IIP is a stock. Although the balance of payments accounts are, in principle, balanced, imbalances result in practice from imperfections in source data and compilation. This imbalance, a usual feature of balance of payments data, is labeled net errors and omissions and is identified separately in published data. It should not be included indistinguishably in other items. Net errors and omissions are derived residually as net lending/net borrowing and can be derived from the financial account minus the same item derived from the current and capital accounts.

The BoP is a statistical statement that summarizes transactions between residents and nonresidents during a period. It consists of the goods and services account, the primary income account, the secondary income account, the capital account, and the financial account. Under the double-entry accounting system that underlines the balance of payments, each transaction is recorded as consisting of two entries and the sum of the credit entries and the sum of the debit entries is the same. The different accounts within the BoP are distinguished according to the nature of the economic resources provided and received.”

The International Investment Position (IIP) is a statistical statement that shows at a point in time the value of:

Financial assets of residents of an economy that are claims on nonresidents or are gold bullion held as reserve assets; and the liabilities of residents of an economy to nonresidents. The difference between the assets and the liabilities is the net position in the IIP and represents either a net claim on or a net liability to the rest of the world. The IIP represents a subset of the assets and liabilities included in the national balance sheet. In addition to the IIP, the national balance sheet incorporates nonfinancial assets as well as financial assets and liabilities positions between residents.

Tables In IFs

Table	Definition	Indicator Name/Name in Source	Indicator Code	Formula	UsedInPreprocessor	UsedInPreprocessorFileName
NetIIP%GDP	Net International Investment Position as a percent of GDP.	Net international investment position (with Fund Record), US Dollars	IFR_BP6_USD	%'NY.GDP.MKTP.CD'	0
XIncSecPayments%GDP	Secondary Income payments as % of GDP	Current Account, Secondary income, Debit, US Dollars	BMIS_BP6_USD	%'NY.GDP.MKTP.CD'	1	ECONOMY
XIncSecReceipts%GDP	Secondary Income receipts as % of GDP	Current Account, Secondary income, Credit, US Dollars	BXIS_BP6_USD	%'NY.GDP.MKTP.CD'	1	ECONOMY
XWorkerCompenPaid%GDP	Worker compensation paid as % of GDP	Current Account, Primary Income, Compensation of Employees, Debit, US Dollars	BMIPCE_BP6_USD	%'NY.GDP.MKTP.CD'	0
XWorkerCompenReceived%GDP	Worker compensation received as % of GDP	Current Account, Primary Income, Compensation of Employees, Credit, US Dollars	BXIPCE_BP6_USD	%'NY.GDP.MKTP.CD'	0
XWorkerTransferPaid%GDP	Worker transfer paid as % of GDP	Current Account, Secondary Income, Debits, Financial Corporations, Nonfinancial Corporation, Households, and NPISHs, Personal Transfers	BMISOPT_BP6_USD	%'NY.GDP.MKTP.CD'	0
XWorkerTransferReceived%GDP	Worker transfer received as % of GDP	Current Account, Secondary Income, Credits, Financial Corporations, Nonfinancial Corporation, Households, and NPISHs, Personal Transfers	BXISOPT_BP6_USD	%'NY.GDP.MKTP.CD'	0
ExMaintRepair%Ser	Maintenance and Repair Services nie exports percentage of Total Services Exports, Balance of Payments from the International Monetary Fund	Services; Maintenance and Repair Services nie, Credit			0
ExManuSer%Ser	Manufacturing Services on Physical Inputs Owned by Others exports percentage of Total Services Exports, Balance of Payments from the International Monetary Fund	Services; Manufacturing Services on Physical Inputs Owned by Others, Credit			0
ExOtherBusiness%Ser	Other Business Services exports percentage of Total Services Exports, Balance of Payments from the International Monetary Fund	Services; Other Business Services, Credit			0
ExOtherConstruction%Ser	Other Construction Services exports percentage of Total Services Exports, Balance of Payments from the International Monetary Fund	Services; Construction, Credit			0
ExOtherCulRecreation%Ser	Personal, Cultural, and Recreational Services exports percentage of Total Services Exports, Balance of Payments from the International Monetary Fund	Services; Personal, Cultural, and Recreational Services, Credit			0
ExOtherFinancial%Ser	Other Financial Services Exports percentage of Total Service exports, Balance of Payments from the International Monetary Fund	Service; Financial Services; Other Financial, credit			0
ExOtherGovGoodSer%Ser	Government Goods and Services nie exports percentage of Total Services Exports, Balance of Payments from the International Monetary Fund	Services; Government Goods and Services nie, Credit			0
ExOtherInsurPen%Ser	Insurance and Pension Services exports percentage of Total Services Exports, Balance of Payments from the International Monetary Fund	Services; Insurance and Pension Services, Credit			0
ExOtherIntellectual%Ser	Charges for the Use of Intellectual Property nie exports percentage of Total Services Exports, Balance of Payments from the International Monetary Fund	Services, Charges for the Use of Intellectual Property nie, Credit			0
ExOtherTelCom%Ser	Other Telecommunication Services Exports percentage of Total Service Exports, Balance of Payments from the International Monetary Fund	Services; Telecommunications, Computer, and Information Services, Credit,			0
ExTransportFreight%Ser	Freight Transport Services Exports percentage of Total Service Exports, Balance of Payments from the International Monetary FundFreight Transport Exports percentage of Total Service Exports, Balance of Payments from the International Monetary Fund	Service; Transport; Freight Transport, credit			0
ExTransportOther%Ser	Other Transport Services Exports percentage of Total Service Exports, Balance of Payments from the International Monetary Fund	Service; Transportl; Other Transport, credit			0
ExTransportPass%Ser	Passenger Transport Services Exports percentage of Total Service Exports, Balance of Payments from the International Monetary Fund	Service; Travel; Passenger Transport, credit			0
ImOtherInsurPen%Ser	The percentage of total service imports on the balance of payments attributed to services such as insurance and pension				0
ImOtherIntellectual%Ser	The percentage of total service imports on the balance of payments attributed to charges for the use of intellectual property				0
ImOtherTelCom%Ser	The percentage of total service imports on the balance of payments attributed to telecommunications, computer and information services				0
ImTransportFreight%Ser	The percentage of total service imports on the balance of payments attributed to freight transport				0
ImTransportOther%Ser	The percentage of total service imports on the balance of payments attributed to postal and courier transport etc.				0
ImTransportPass%Ser	The percentage of total service imports on the balance of payments attributed to the transport of passengers				0
ImTravelBusiness%Ser	The percentage of total service imports on the balance of payments attributed to business travel				0
ImTravelPersonal%Ser	The percentage of total service imports on the balance of payments attributed to personal travel				0
ExTravelBusiness%Ser	Business Travel Services Exports percentage of Total Service Exports, Balance of Payments from the International Monetary Fund	Service; Travel; Business travel, credit			0
ExTravelPersonal%Ser	Personal Travel Services Exports percentage of Total Service Exports, Balance of Payments from the International Monetary Fund	Service; Travel; Personal travel, credit			0
ImMaintRepair%Ser	The percentage of total service imports on the balance of payments attributed to maintenance and repair services				0
ImManuSer%Ser	The percentage of total service imports on the balance of payments attributed to manufacturing services on physical inputs owned by others				0
ImOtherBusiness%Ser	The percentage of total service imports on the balance of payments attributed to business services				0
ImOtherConstruction%Ser	The percentage of total service imports on the balance of payments attributed to construction				0
ImOtherCulRecreation%Ser	The percentage of total service imports on the balance of payments attributed to personal, cultural, and recreational services				0
ImOtherFinancial%Ser	The percentage of total service imports on the balance of payments attributed to financial services				0
ImOtherGovGoodSer%Ser	The percentage of total service imports on the balance of payments attributed to government goods and services				0

Data Pulling Instructions

1. Go to http://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52
2. Click on "API & Bulk Download"
3. Click on the "Bulk Download (entire dataset)" icon
4. Login with your .edu email address. If you do not have one. You can set one up for free as long as you use and email that ends in ".edu"
5. All countries is selected by default. Unless you are pulling specific countries, this is correct.
6. Click on indicators and select the indicators of interest. The indicators above are all found under the first two tabs. Make sure you deselect the variables that are not of interest.
7. Click okay. the download will begin.
8. When the download is complete. You will receive an email, or you can click "My Data" in the top right hand corner.
9. For more detailed and updated instructions go to IMFBoP International Monetary Fund Balance of Payments

Data Notes

Calculations

Note: In the November update, the formula for XWorkerTransferReceived%GDP, XWorkerTransferPaid%GDP, XWorkerCompenPaid%GDP, and XWorkerCompenReceived%GDP from /GDP Current USD (NY.GDP.MKTP.CD to %'NY.GDP.MKTP.CD'. NY.GDP.MKTP.CD are GDP figures in World Bank. They can be found here .

To complete the calculations: multiply by 1,000,000 to get the same units between IMF and World Bank since IMF unit Millions of U.S. Dollars, divide the sheets from IMF BoP by the GDP figures (NY.GDP.MKTP.CD), then multiple by 100 for the percentage value.

For example, for XWorkerTransferReceived%GDP Algeria 1977 the value is 349.1884 and for the same year the GDP Current USD is 20972113685.

349.1884 x 1,000,000= 349188400

349188400/20972113685 = 0.0166501291 x 100 = 1.665.

The Indicator Name/Name in Source showcases how to find the data. For example for XWorkerTransferReceived%GDP: