Trade Map Frequently Asked Questions. Trade in Services data on Trade Map now follow the framework set by the 6th edition of the Balance of Payment Manual BPM6 and the Extended Balance of Payment on Services classification released in 2. EBOPS 2. 01. 0. The differences between BPM5EBOPS 2. BPM6EBOPS 2. 01. This implies revisions of the concepts of goods for processing and merchanting transations. In an attempt to capture the issues involved by globalisation and its statistical implications, the new framework for trade in services statistics implies a stricter application of the change of ownership principle enshrined in the System of National Accounts SNA and Balance Of Payments BOP manuals. This will notably emphasise a fundamental difference to how goods undergoing processing abroad are regarded within the International Merchandise Trade Statistics Concepts and Definitions, Revision 2 IMTS, Rev. BPMSNA on the other. While the IMTS statistical system is based on the concepts of physical movements of goods and country of origin, the BPMSNA is founded on the principles of change of ownership and residence of owners. The criteria of substantial transformation IMTS, Rev. Difference Between Wto And Gatt Pdf CreatorTherefore, in the SNA 1. BPM5 a change in ownership was imputed in case of substantial processing and the flows were then recorded as goods trade. This allocating rationale however, constituted an exception to the change of ownership rule BPM5, para. SNA 1. 99. 3, para. The external merchandise trade statistics record all movements of goods at the time they cross the border of the compiling economies, but not at the time of change of ownership. According to the previous statistical device, goods for processing are thus included in the merchandise trade statistics, and are recorded at the time they are exported to the processing economy or returned to the original economy for local use or re export. This implies that a change in ownership is always imputed for goods for processing whenever they move into or out of the compiling country, and are recorded on gross terms under the goods account. The new statistical system introduced by the BPM6SNA 2. Cisco Aironet 350 Series Wireless Lan Adapter Driver Windows Xp. Manufacturing services on physical inputs owned by others. It is worthwhile noticing that the value of manufacturing services on physical inputs owned by others is not necessarily the same as the difference between the value of goods sent for processing and the value of goods after processing. Cost of overheads i. Merchanting activities also represented a controversial issue in respect to the change of ownership principle. BPM5 defines merchanting as the purchase of goods by a resident of the compiling economy from a non resident and the subsequent resale of the goods to another non resident without the goods ever entering or leaving the compiling economy BPM5, para. The difference between the value of goods when acquired and the value when sold is recorded as the value of merchanting services provided. BPM5 recommends recording such net amount of transactions under services rather than goods, though the commodity has changed ownership. On the contrary, the BPM 6 allocates those merchanting transactions under the goods account BPM6, paras. Some examples revision of services trade balance in China and Hong Kong ChinaThe new treatment of goods for processing and merchanting services is deemed to entail important changes in the trade balances of some countries. In the case of China, and Hong Kong China, the estimated effect will entail a redistribution of value between goods and services accounts, leaving the current account balance unmodified. China. According to 2. Processing will imply a remarkable reduction of the goods trade balance. In contrast, the country turns to be a net exporter of services. Assuming that processing services can be measured from the difference between debits and credits of goods for processing, obtained from published country merchandise trade data, the calculation will imply that. Goods credit BPM6 Goods credits BPM5 Goods for processing credits BPM5 Goods debit BPM6 Goods debit BPM5 Goods for processing debit BPM5 Services credits BPM6 Services credit BPM5 Net goods for processing if positiveServices debits BPM6 Services debits BPM5 Net goods for processing if negativeEffects on China trade performance US billionsBOP 2. BPM5. Adjusted for goods for processingPercent change. Exports of goods. Imports of goods. Balance of trade in goods. Exports of services. Imports of services. Balance of trade in services 8. Balance of trade in goods and services. Source IMF, BOPCOM 0. Hong Kong ChinaOver the past years, trading activities relating to goods for processing and merchanting played a vital role in the external trade front of Hong Kong. In 2. 00. 6, about 3. Hong Kong, and 1. Hong Kong were related to goods for outward processing in the Mainland, whereas about 2. Hong Kong were related to merchanting activities. The balance of trade in goods in 2. Difference Between Wto And Gatt Pdf' title='Difference Between Wto And Gatt Pdf' />US 1. US 5. US 3. 6 billion to a deficit of US 2. The impact of the new statistical framework, as shown in the following table, will be extremely relevant for trade analysis. Effects on Hong Kong trade performance US billionsBOP 2. BPM5. Adjusted for goods for processing only. Adjusted for merchanting only. Adjusted for both goods for processing and merchantingPercent change. Exports of goods. Imports of goods. Balance of trade in goods 1. Exports of services. Imports of services. Balance of trade in services. Balance of trade in goods and services. Source IMF, BOPCOM 0. Related links documents. IMF 2. 00. 8. Impact on BOP Data of Changes in International Standards for Processing and Merchanting, BOPCOM 0. Available at www. IMF 2. 00. 7. Strategy for Implementing Recommendations on Goods for Processing and Merchanting in BPM6 The Case for Hong Kong, BOPCOM 0. Available at www. Most of the WTOs agreements were the outcome of the 198694 Uruguay Round of trade negotiations. Some, including GATT 1994, were revisions of texts that previously. Barcode Generator Software And Scanner there. Abstract Globalization is a key challenge to public health, especially in developing countries, but the linkages between globalization and health are complex.