Relationship between trade statistics compiled on an IMTS, rev.2, basis and those compiled on a BPM6 basis

International Merchandise Trade Statistics, Concepts and Definitions, Revision 2 (IMTS, Rev.2), recommends recording all goods that add to or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory (para. 14). This recommendation is different from the underlying concept in the 1993 System of National Accounts (1993 SNA) and the Balance of Payments, fifth edition (BPM5) for determining the coverage and timing of international transactions in goods. The revised versions of SNA (1993 SNA, Rev.1) and BPM (BPM6) retain the principle of change of ownership in resident/non-resident transactions and expand the application of this principle to ensure even stricter conceptual coherence between the goods component in balance of payments and the corresponding financial recordings in other parts of SNA and BOP statistics.

Related Subject(s): Economic and Social Development