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8.7.            In addition to its use for statistics of international trade in services, the ITRS can also be used for statistics of other financial transactions, as the ITRS can cover a wide range of financial operations, including currency exchanges in foreign exchange companies and bank information on settlements, as well as position and flow data regarding foreign assets and liabilities.

 

Next: C. Using the international transactions reporting system for collecting data on international trade in services

 

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[1] See also BPM6 Compilation Guide, para. 4.2.

[2] In countries in which the ITRS was not maintained after the abolishment of foreign exchange controls, surveys have become main source for statistics on trade in services and the focus has already shifted from settlement to transaction data.

[3] See  BPM6 Compilation Guide, para. 4.3.

[4] This point is especially important for countries changing their collection system from a bank ITRS to direct reporting and surveys.