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The inclusion of these services in the value of exports of goods follows the treatment recommended in BPM5 and MSITS and reflects the fact that data on cross-border trade are collected by product.
The guidance for compiling statistics on trade in services offered by the SNA, BPM5, and the MSITS differs on the treatment of these unpriced financial services.
MSITS provides memorandum items for "services provided without payment by financial intermediaries" and for financial services including these unpriced services.
Both BPM5 and MSITS call for recording the contractors' gross operating revenues derived from the fulfillment of foreign contracts as exports of construction services.
The differences among BEA's current method and the methods of BPM5 and MSITS can be illustrated using U.S.
More detailed guidance is provided in the forthcoming Manual on Statistics of International Trade in Services (MSITS), which is being jointly published by the Commission of the European Communities, International Monetary Fund, Organisation for Economic Co-operation and Development, United Nations, United Nations Conference on Trade and Development, and World Trade Organization.
(18.) Although auxiliary services other than commissions are not specifically mentioned in BPM5, the MSITS characterizes its definition as "a disaggregation of the BPM5 classification."
(The list is reproduced in MSITS, Annex 6.) The GATS, which became effective in January 1995, is the principal World Trade Organization agreement on trade in services.
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