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Country experience: Philippines: customs data for compiling freight and insurance services

9.40.            The compilation of statistics on the resident/non-resident trade in services in the Philippines is heavily based on the administrative records of the Bureau of Customs (BOC). Those records are especially useful for estimating freight and insurance services.  The cost of cargo insurance is stated in the attached invoice for import entry internal revenue (IEIRD). If the insurance value is not declared, then the value of insurance is estimated.

9.41.            In 2007, a special survey was conducted for the purpose of input-output tables, which also enabled a verification of insurance and freight values generated from administrative sources (see the online version of the guide for the 2007 survey on selected imported commodities (SSIC) questionnaire). Freight and insurance costs are also validated by collecting and comparing data from various government and private entities, including the Insurance Commission; the Bureau of Shippers; Asian Terminals, Incorporated; Cargohaus and FedEx-Philippines. For IEIRD, the freight cost is stated in the customs declaration or in the attached invoice. If the freight value is not declared, then it is estimated. The details of the estimation procedure are given in the online version of the present Guide.

9.42.            Computation/estimation: exports, insurance and freight cost  For export declarations, insurance and freight costs are not reported on the export document, but rather on the attached invoice. For multiple commodities, freight and insurance costs are computed by prorating, using total insurance/total FOB or total freight/total FOB as the multiplier, and the individual FOB value as the basis, in the computation. Insurance and freight costs are not imputed if not reported.

 

Back to D. Country experiences (Chapter 9)