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					    Trade in Services - Overview

           Kevin B. Armbrister
                  Assistant Statistician




Major Categories of Trade in Services
      Transportation
      Travel
      Insurance Services
      Construction Services
      Royalties and Licence Fees
      Offshore Companies Local Expenses
      Government
      Other Services




                                           1
                   Travel
                 Visitor Travel
 Travel Credit                      Travel Debit

Air Arrivals                        Personal Travel
• Stopover Arrivals                 Students
• Day Arrivals                      Business Travelers
Sea Travelers                       Medical Patients
• Cruise Arrivals
• Cruise-Stopover Arrivals




           Source of Data
   Official Source of Travel Credit
       Ministry of Tourism
        • Exit Survey
        • Hotel Performance Records
        • Survey of Industry Activities

   Official Source of Travel Debit
       Exchange Control Records




                                                         2
Transportation Services - Coverage in
    Balance of Payments of the Bahamas


    Transportation by Air


    Transportation by Sea




Transportation

      Passenger Services

      Freight and Insurance Services

      Port and Handling Charges




                                         3
 Main data source for Transportation:

    •Survey
         Airlines Companies
               Domestic Airlines
               Agents for Foreign Airlines
         Shipping Companies
               Domestic Shipping Companies
               Foreign Shipping Companies

    •Exchange Control Records




              Construction
Construction: Coverage in the Bahamas’s balance
of payments

  Resident Companies
  Foreign Contractors working for local companies




                                                    4
 Main data source for Construction:

  Survey

       Direct Company Survey

       Exchange Control Records

       Bahamas Investment Authority




Construction

    Debit
      Non-resident contractors

    Credit
      Not considered an issue since the early
      50s/60s




                                                5
  Advantages and Disadvantages
       of Present System

    Exchange Control Records
      Ability to capture transactions
    Reported revenue from hotels and agents
    Immigration records at point of entry
    Availability of timely data
    Lack of empirical studies on available data




Insurances Services
 Reinsurance premiums
 Transportation Insurance
 Non-merchandise insurance




                                                  6
Royalties and License fees
 Franchise fees
 Asset titles




Government n.i.e
 Embassies
 Consulates
 Military bases




                             7
Other Supporting Agencies
 Department of Statistics
 Ministry of Finance
 Ministry of Financial Services
 Ministry of Tourism
 The Department of Agriculture and Fisheries
 Hotel Corporation of the Bahamas




Plans for Improvement
 Review of National Presentation
 Validation of Data
 Empirical Analysis
 Reporting conventions
 Greater coordination efforts between agencies




                                                 8
Travel vs Overall Trade in Services
1,800
1,600

1,400
1,200

1,000

 800
 600
 400

 200

   0
        1990

               1991

                      1992

                             1993

                                    1994

                                           1995

                                                  1996

                                                         1997

                                                                1998

                                                                       1999

                                                                              2000

                                                                                      2001

                                                                                             2002

                                                                                                    2003

                                                                                                           2004
                                    Trade in services                                Travel




                      The End



                                                                                                                  9

				
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posted:9/26/2012
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