International Trade in Services Asymmetries and Classifications
We are proud to have supported the European Commission (Eurostat) in a research project focused on the International Trade in Services Statistics by analysing two aspects: Trade asymmetries with available major trading partners and correspondences between services product classifications.
In the execution of the first part, we developed a tool that automatically extracts and compares data for the European Union and its major partner countries, i.e. United States, United Kingdom, Switzerland, Australia, Japan, Russia, Iceland, South Korea, Hong Kong and Canada and produces asymmetries indicators both in tabular and graphical format, which were used for the analysis.
The second part focussed on the existing services classifications, namely Extended Balance of Payments Services (EBOPS), Central Product Classification (CPC), the European Classification of Products by Activity (CPA), the United Nation’s Broad Economic Categories (BEC rev. 5), and the WTO’s Services Sectoral Classification (W120), with the aim of identifying deficiencies within the current correspondence tables. Moreover, the research explored a new addition to the EBOPS 2010 classification with products details for Travel and FISIM and on the EBOPS 2010 – NACE rev. 2 correspondence tables due to their significance for Services Trade Enterprise Characteristics (STEC).