Chapter 1 Conceptual frameworks

1.1. Chapter 1 introduces the conceptual framework identified in MSITS 2010 (section A), describes the General Agreement on Trade in Services (GATS), modes of supply and statistical framework (section B) and provides an overview of concepts relating to statistics on resident/non-resident transactions in services (section C), foreign affiliates statistics (section D) and additional indicators for analysing the international supply of services (section E). The chapter concludes with a description of the guidelines on integrated economic statistics (section F).

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A. Introduction

1.2. GATS was a driving force in the drafting of MSITS, both for the first version of the Manual, at the end of the 1990s, and its current 2010 edition. GATS establishes a set of rules and disciplines that govern the use of measures affecting trade in services by World Trade Organization (WTO) members. Under GATS, WTO members are committed to entering into successive rounds of trade liberalization negotiations, which are conducted by type of service and mode of supply. Economic integration agreements at the regional or bilateral level follow the same approach. Consequently, the availability of statistics on the international supply of services, detailed by service type, mode of supply and partner country, is highly important for trade in services policymaking and related analysis.

1.3. Chapter II of MSITS 2010 focuses on the conceptual framework for the development of statistics of international trade in services, and explains how existing statistical systems and classifications can be used to progressively build such statistics to provide the information necessary for measuring the international supply of services. It is consistent with concepts and definitions included in the 2008 System of National Accounts (2008 SNA) and the Balance of Payments and International Investment Position Manual, 6th edition (BPM6). The compilation guidance provided for those frameworks should be used as a starting point and the present Guide should be read as an extension of that guidance, covering specific compilation needs in the context of MSITS 2010 implementation.

1.4. Since the relevant conceptual frameworks are outlined in MSITS 2010 and detailed in other international manuals, the present chapter introduces only briefly the basic elements of the frameworks that are essential in the context of compiling trade in services statistics, and makes reference to relevant material in the manuals. It clarifies information needs, in particular those of GATS, and links that information to the compilation of statistics on the following:

(a)     Services transactions between residents and non-residents, broken down by service type (according to the Extended Balance of Payments Services Classification 2010 (EBOPS 2010)), partner, mode of supply (mainly 1, 2 and 4) and relationship between the parties (trade between affiliated firms and between unaffiliated firms);
(b)     Foreign Affiliates Statistics (FATS), focusing on the variables and breakdowns of interest in the context of the international supply of services, while being consistent with the frameworks described in Benchmark Definition of Foreign Direct Investment, 4th edition of the Organization for Economic Cooperation and Development (OECD) and Measuring Globalization: OECD Handbook on Economic Globalization Indicators;
(c)     Additional monetary and non-monetary (quantitative) indicators relevant for the assessment of the importance of various modes of supply, in particular, modes 2 and 4, in an economic context.

B. General Agreement on Trade in Services, modes of supply and statistical frameworks

1.5. MSITS 2010 describes the structure and guiding principles of GATS and its scope. When making commitments in GATS negotiations, WTO members often make reference to the Services Sectoral Classification List (MTN.GNS/W/120 (W/120)). The list should be viewed as an optional classification system of services sectors for negotiating purposes, rather than as a statistical classification such as EBOPS 2010,¹⁴ which is used to compile and publish resident/non-resident trade in services statistics.¹⁵

1.6. According to GATS, the international supply of services can take place through four different modes of supply that depend on the territorial presence of the supplier and the consumer at the time of the transaction. The four modes can be described as follows:

(a) Mode 1 (cross-border supply): the supply of services from the territory of one member into the territory of any other member;

(b) Mode 2 (consumption abroad): the supply of services in the territory of one member to a service consumer of any other member;

(c) Mode 3 (commercial presence): the supply of services by a service supplier of one member, through a commercial presence in the territory of any other member;

(d) Mode 4 (presence of natural persons): the supply of services by a service supplier of one member, through the presence of natural persons of a member in the territory of any other member.¹⁶ Mode 4 is further described in box 1.1.

1.7. Existing statistical frameworks can be used as a basis for the production of data to satisfy the information needs of GATS regarding modes of service supply. For example, the value of the international supply of services of a country can be established once statistics on the output of foreign controlled affiliates have been developed for the services sector to accompany the balance of payments (BOP) services statistics. The combination of both data sets would cover all four modes, provided that compilers ensure that appropriate breakdowns are delivered (i.e., service type, mode of supply, partner country and exchanges between related and unrelated trade). As MSITS 2010 explains, to produce a complete picture of the international supply of services, additional data, including both monetary and non-monetary indicators, are still necessary.

Box 1.1 Clarifying mode 4 from a statistical perspective

Chapter V of MSITS 2010 introduces mode 4 in a statistical context on the basis of the description of article 1 of GATS and the annex on movement of natural persons supplying services under the Agreement. Mode 4 can, in general, be described as covering foreign natural persons entering the host economy to perform the following activities:

(a) Fulfil service contracts directly (contractual service suppliers): this covers self-employed persons (independent professionals) or employees of a foreign service supplier;

(b) Work in a foreign affiliate that delivers services (intracorporate transfer or direct recruitment by the affiliate);

(c) Negotiate a service contract (services sellers) or the constitution/acquisition of an establishment supplying services (persons responsible for setting up commercial presence) or market a service, etc.

Persons covered under mode 4 are those providing services under a service contract. Therefore, persons crossing a border to access the employment market, as well as persons present for the production of goods or the provision of services supplied under governmental authority, are excluded. Permanent migration is also excluded from mode 4 movements (GATS does not apply to measures affecting residence, citizenship or employment on a permanent basis).

Persons covered by mode 4 are, therefore, not limited to foreign persons directly involved in the rendering of services (as indicated in (a), above), but also include those persons whose presence abroad is instrumental in the provision of a service (items (b) and (c)). Therefore, data to be compiled in connection with mode 4 of the supply of services cover:

(a) The value of services supplied directly by persons moving under mode 4 commitments as indicated under (a) above, that is, the value that, in general, would be measured as trade in services in the balance of payments (BOP). The exception would be for services supplied by self-employed persons staying more than a year (still in the context of a service contract). However, normally such persons will represent a small proportion of the mode 4 population and their change in residence will be difficult to identify in practice, and the value of the supplied services would still be recorded under services in the BOP. Compiling the mode 4 value of services is not relevant for persons entering the host economy to perform activities described in points (b) and (c), above. In fact, the work of persons covered by point (b) is considered instrumental to the output of foreign affiliates that supply services through a commercial presence (mode 3). Persons covered by point (c) are not producing or delivering a service to consumers at the time of their presence in client's country. They are, rather, engaged in negotiations for an eventual future supply of services;

(b) Non-monetary (quantitative) data on the number of natural persons crossing borders to supply services (or the number of trips of such persons) for all three categories described above (see chapter 16 of the present Guide).

Note: See chapter V of MSITS 2010 for more information.

1.8. For the compilation of data on the value of the international supply of services, MSITS 2010 develops a phased approach that includes (a) the compilation of resident/non-resident trade in services statistics in the context of the BOP, suggesting a breakdown of transactions, according to EBOPS 2010, by partner country, mode of supply (mainly referring to modes 1, 2 and 4) and the relationship between the trading parties, and (b) the development of FATS, exclusively referring to mode 3. FATS should include data on output (or sales/turnover if output is not possible) broken down by service type (or service activity, if type is not possible), by partner country (i.e., country of operation of affiliate for outward FATS, or of the ultimate controlling institutional unit (UCI) for inward FATS), and identifying to whom the output is sold, with a particular interest in the output sold within the country in which the controlled affiliate has been established.

1.9. MSITS 2010 also recommends the compilation of other indicators (both monetary and non-monetary) of interest to users, including other FATS variables (employment, value added, number of enterprises, etc.); non-monetary quantitative indicators for mode 4 (i.e. the number of individuals crossing borders and temporarily abroad to provide services in the context of service contracts) and mode 2 (individuals going abroad to consume services); and indicators such as foreign direct investment (FDI), service sector indicators or services trade by enterprise characteristics (STEC).

1.10. For services negotiations, especially within the GATS framework, users need comprehensive information on the international rendering of services and their mode of supply, as well as on the operators taking part in those operations and the operations' main features. That need has led to the development of statistics on the international supply of services that go beyond the primary reason for calculating the BOP. Proper legal and institutional arrangements are extremely important for the development of the statistics needed for analysing the international supply of services. In most cases, the compilation of such statistics is a cooperative effort of several agencies, such as the national statistical office, the central bank, the ministry of the economy and the national agency in charge of trade negotiations. This collaborative process calls for better coordination of data collection and compilation among different institutions (see chapters 2 and 3 for details).

1.11. In order to maximally exploit the potential of combining and comparing statistics on the international supply of services within and between countries, compilers are encouraged to use internationally-accepted concepts and methods and classification systems when developing their data collection and compilation systems. In the case of trade in services, those concepts include MSITS 2010 and related international statistical systems and frameworks, such as BPM6, the 2008 SNA and OECD Benchmark Definition of Foreign Direct Investment, 4^th edition (BD4). For modes of supply, compilers should align with the framework developed in chapter V of MSITS 2010. In terms of classifications for BOP services transactions and FATS, as well as for modes 4 and 2 quantitative indicators, compilers should, to the extent possible, use EBOPS 2010, the International Standard Industrial Classification of All Economic Activities (ISIC), rev.4, and the partner country data classifications used in the BOP Data Structure Definition, which was prepared in the context of the Statistical Data and Metadata Exchange (SDMX) initiative, sponsored by seven international organizations: Bank for International Settlements, European Central Bank, Eurostat, the International Monetary Fund (IMF), OECD, the United Nations and the World Bank.¹⁷

1.12. If compilers deviate from the internationally-accepted concepts and methods and classification systems to, for example, reflect specificities of their economies or to take into account certain statistical frameworks adopted in their countries, they are encouraged to develop classification systems that are compatible with those listed above and construct the appropriate tables for conversion to international systems.

C. Statistics on resident/non-resident transactions in services

1.13. The concepts and definitions recommended for use in statistics on services transactions between residents and non-residents are based on MSITS 2010, chapter III, which is, in turn, based on BPM6, chapter 10. Statistics compiled following those concepts and definitions reflect the value of services supplied mainly through modes 1, 2 and 4. The collection of such data is, in general, the responsibility of a country's BOP compilation agency. In many countries, that agency is the central bank, but in others, the responsibility is given to the agency in charge of compiling economic statistics (usually the national statistical office). Alternatively, some countries have opted for a division of tasks (e.g., with the statistical office collecting trade in services data and the central bank compiling and disseminating them). The collection and compilation of resident/non-resident services transactions are further discussed in chapters 5 through 11 and 13 and 14 of the present Guide.

1.14. When producing statistics on services transactions, compilers should:

(a) Follow the general BPM6 principles regarding institutional units, residence, centre of predominant economic interest, economic transactions, valuation, market prices, accrual accounting, gross recording, etc., and, of course, the definition of services;¹⁸

(b) Break down services transactions according to EBOPS 2010 step-by-step, according to the needs of the compiling economy. Compilers should be aware that EBOPS 2010 is consistent with the BPM6 classification of services, but provides a more detailed breakdown and suggests a number of complementary groupings for compilation by particular sector;

(c) Break down the value of services by trading partner according to the economy of residence of the respective trading partner. That step should be implemented gradually and in line with the needs of the compiling country;¹⁹

(d) Identify or estimate the modes of supply related to the services transactions;

(e) Specify the relationship between the parties involved in the services transactions.

1.15. When compiling statistics on the international supply of services, as specified above, it should be taken into account that the prices at which exchanges between affiliated firms are valued may not represent market prices. However, the concept of market price is particularly important, given that increased globalization is paired with, and often driven by, enterprises headquartered in one country that establish affiliates in other countries to produce and distribute goods and services (see boxes 1.2 and 1.3). International trade in services between such parents and their foreign affiliates has rapidly increased. Therefore, within the framework of statistics on the international supply of services, the identification of trading partners in transactions between parents and foreign affiliates has an important analytical value.

Box 1.2 Transfer and market prices

In some cases, the values against which transactions between affiliated enterprises are priced internally may not represent market prices. In general, when there is an international transaction between two affiliated firms, it is expected that the value of the transaction for the exporting affiliate will be equal to the value of the transaction for the importing affiliate and that, hence, they will cancel each other out, leaving the overall profits of the multinational enterprise (MNE) unchanged, no matter at what price it values the transaction. However, in a world in which international transactions are taxed and the rates of business income taxation differ among countries, an MNE will have definite financial incentives to choose strategically the “transfer price” to minimize the amount of tax paid to both jurisdictions. A transfer price is the price at which an enterprise transfers physical goods and intangible property or provides services to associated enterprises. Because transfer pricing might result in the under- or over-invoicing of transactions between affiliated enterprises, compared with transactions between unrelated parties, adjustments should be made when the exchange values do not represent market prices. The OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations 2010 state that, for income taxation and customs valuation purposes, enterprises should follow the “arm’s length standard”, i.e., set the transfer price equal to the price that two unrelated parties would negotiate when trading the same or substantially similar products under the same or substantially similar circumstances. The OECD guidelines propose five methods for adjusting transfer prices by that standard on the basis of the comparability of the transactions. Transactions are considered comparable when their “economically relevant characteristics” are the same, or if they differ, when the differences have no material impact on the results. In practice, internal and external transactions are unlikely to be exactly comparable. Therefore, the OECD guidelines recommend that material differences be identified, quantified and adjusted when determining the arm’s length transfer price. Moreover, since transfer pricing is not an exact science, the guidelines recommend that transfer prices be set inside a range of acceptable arm’s length prices, known as the “arm’s length range”.

Note: See OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations 2010 (www.oecd.org/ctp/transfer-pricing/transfer-pricing-guidelines.htm) for more information.

Box 1.3 Trade in value added

With the increasedinternational fragmentation of production, intra- and interindustry trade has grown dramatically, creating so-called global value chains (GVCs).. Conventional measures of international trade do not always reflect the flows of goods and services within those chains, and are unable to answer policy questions related to the economic and employment impact of their country's embeddedness in GVCs. In response, OECD and WTO have developed an analytical data set on trade in value added (TiVA), in order to provide insight into the value that is added by each country in the production of goods and services that are consumed worldwide.

The estimates are based on a global input-output table, constructed from official national input-output tables or supply and use tables and bilateral trade statistics of goods and services, made consistent with national accounts data. Since TiVA combines national statistics to develop a global analytical toolkit, it requires high quality input data from national compilers, including information on bilateral trade in services (by EBOPS category) and on the characteristics of the firms involved in services trade (notably, their industry classification). The first aspect requires BOP compilers to develop trade in services statistics by partner; the second aspect involves the development of data sets by national compilers that allow for the analysis of services trade companies by economic characteristics (known as services trade by enterprise characteristics (STEC)). Those statistics are developed through the identification of firms responsible for trade in services, by linking trade and business registers.

1.16. The identification of trading partners is especially important in the case of service items, such as manufacturing services on physical inputs owned by others; research and development; computer services; audiovisual services; charges for the use of intellectual property n.i.e.; and professional and management consulting services, that are provided within global production and marketing networks. It is recognized, however, that compiling such statistics by trading partner is resource-intensive and difficult, owing to issues related to disclosure and incompleteness of information. The issues related to the identification of trading partner are further discussed in part II, in the context of data collection, and part III, in the context of data compilation.)

1.17. A second consideration relates to the bundling of services with other services or with goods, such as in the tourism sector. Some arrangers bundle various types of services and goods, with the final client making only one payment that covers both the package of services and goods itself as well as the service fee for arranging those products.²⁰ In principle, the payments for related services or goods should be unbundled,²¹ but if unbundling is not possible, it may be a strong indication that the bundling has resulted in the creation of a new product. In such a case, an appropriate classification must be found for the new product.

1.18. A final consideration is the strong link between intellectual property products and trade in services. Services related to intellectual property rights, for example, such creative services as computer or audiovisual services, are becoming increasingly important in the business world. Therefore, information on such services is becoming progressively more important for economic analysis. Chapter 14 addresses the relevant EBOPS 2010 services components in a single group, including services related to intellectual property products and other business and personal services (covering charges for the use of intellectual property n.i.e.; telecommunications, computer and information services; other business services; and personal, cultural and recreational services). MSITS 2010 also suggests some relevant complementary groupings within EBOPS 2010, namely, computer software transactions, audiovisual transactions and cultural transactions.

D. Foreign Affiliates Statistics

1.19. MSITS 2010 focuses on the foreign-controlled affiliates subset. The key concepts of FATS, as described in MSITS 2010, chapter IV, involve foreign direct investment relationships and control, are in line with those specified in BPM6, OECD Benchmark Definition of Foreign Direct Investment, 4th edition²² and Measuring Globalization: OECD Handbook on Economic Globalization Indicators.²³ Details of FATS collection and compilation are discussed in chapters 5, 6, 10, 11, 13 and 15 of the present Guide.

1.20. A number of variables are recommended for compilation: sales/turnover or output, employment, value added, trade and number of enterprises, etc. Output is the variable recommended for measuring the supply of services through mode 3, but sales or turnover can be used in the absence of data on output. Variables should be broken down to the extent possible into the following categories: type of service provided (if possible, using a classification compatible with EBOPS 2010 definitions and identifying the provision of services in the country of operations); main economic activity; and country of operation of affiliates for outward FATS and country of the ultimate controlling institutional unit (UCI) for inward FATS. The basic concepts of BPM6 also apply to FATS: residence; determining control, which is necessary for determining the FATS universe; and the recording of information on an accrual basis and for monetary information valuation at market prices. The valuation of transactions between affiliated firms may not represent market prices. That question is discussed further in box 1.3.

1.21. Given that at the time of writing of the present Guide, FATS was still a relatively new statistical domain, it is suggested that compilers develop a FATS compilation system in stages. MSITS 2010 recommends, as an initial priority, that FATS be compiled on an activity basis, both because that is required for the compilation of some variables and because data are currently most widely available on that basis. However, since the compilation of data on a product basis is recognized as a longer-term goal, compilers are encouraged to work towards providing product detail for the variables that lend themselves to that basis of attribution, namely, sales/turnover and/or output, as well as exports and imports. If such specificity cannot be achieved, compilers may wish to disaggregate data on sales or output in each industry into the subcategories of sales/output of goods and sales/output of services, as a first step towards achieving a product basis.

1.22. Inward FATS often appear in structural business statistics (SBS), traditionally compiled by national statistical offices, but they can also be collected in the same manner as foreign direct investment (FDI) statistics, or in conjunction with those, such as a dedicated survey. Outward FATS can be produced within the scope of FDI statistics or a dedicated survey. FATS can also be compiled from administrative records of a public agency that deals with economic or commercial issues related to FDI. For both inward and outwards FATS, analysing the relationships among different data collection and compilation options yields a number of advantages, including increased cost effectiveness and the reduction of the reporting burden. Compilers of FATS may also consider accessing surveys, prepared by supranational bodies, based on frameworks taken from the business registers of international groups.²⁴ The current interest in the phenomenon of economic globalization and the new approach of international trade statistics, in terms of value added, and their relationship to global value chains, has revealed the importance of reinforcing such statistics.

E. Additional indicators for analysing the international supply of services

1.23. MSITS 2010 also recommends the compilation of additional indicators to further analyse the international supply of services beyond the value of such transactions. Such indicators are needed in order to respond to the numerous information needs of trade negotiators and other users. Some of those indicators are directly related to the GATS negotiations, as they support the comparison of commitments and provide background information for the settling of disputes, or can be used more generally for an in-depth analysis of the international supply of services. The other indicators range from data on the number of persons/trips relevant to modes 2 and 4 to the use of data on services production, prices, employment and sectoral indicators (e.g., tourism, telecommunications, etc.). The additional sets of statistics do not require the development of new statistical frameworks, but refer rather to existing ones. Their compilation indicates in particular the potential offered by the linking of trade in services statistics and business registers. Data collection and compilation of those other indicators are described in chapters 6, 7, 9, 10, 11, 13 and 16.

1.24. Frameworks of particular interest are those related to the movements of individuals across borders, i.e., tourism and migration statistics, whether for supplying services (mode 4) or for consuming services (mode 2). Obtaining data on the characteristics of such movements and on the individuals involved is highly important for trade policymaking and monitoring, for the analysis of the global supply of services and for broader tourism and migration policy, in particular for mode 4. Data on the movements of natural persons should include detailed information on the characteristics and activities of such persons, as well as on the services they are rendering or consuming while abroad.

F. Integrated economic statistics

1.25. At its thirty-seventh session, in 2006, the Statistical Commission recommended an integrated approach for national economic statistics programmes to ensure the efficiency of the statistical process and increase the consistency and coherence of economic statistics.²⁵ The Commission subsequently developed Guidelines for Integrated Economic Statistics,²⁶ to enhance the quality and analytical value of short-term, annual and benchmark economic statistics and macroeconomic statistics.²⁷

1.26. The recommendations in Guidelines for Integrated Economic Statistics are based on internationally adopted standards, including the 2008 SNA, BPM6 and specialized technical manuals on subjects such as the measurement of prices, sectoral and business statistics and FDI. The methodological standards, recommendations and emphasis on policy-relevant data in those manuals formed the basis for the organizing principles and detailed practices set forth in Guidelines for Integrated Economic Statistics.²⁸ The main characteristics of that integrated approach are described in box 1.4.

Box 1.4 Integrated approach to economic statistics

Guidelines for Integrated Economic Statistics identifies the following features of an integrated approach:

(a) Common concepts, definitions and classifications The use of harmonized terminology, definitions, concepts, standards and classifications is necessary in a national statistical system so that the various data collections are comparable and can be related to one another;

(b) Business registers and frames Business registers play an important role in integrated economic statistics by providing a central sampling frame for all business surveys;

(c) Standardization of surveys Integration should be comprehensive and encompass survey design, sample frame and questionnaire design;

(d) Administrative data Administrative source data can be integrated for statistical purposes; concepts must be matched with statistical records. The advantage of using administrative records and various government data is that it promotes a more efficient use of data collections, and reduces the burden of the respondents;

(e) Data editing, linkage and integration Transparency and documentation of the editing process are indispensable for ensuring that the resulting data can be used by various statistical domains and will be widely accepted and understood by users;

(f) Dissemination and communication Integration may facilitate the provision of user-friendly presentations of data and explanations of concepts, as well as ensure a consistent format across publications, electronic sources and websites.

Footnotes:

¹⁴ See MSITS 2010, annex 1.

¹⁵ A correspondence table has been developed between the Services Sectoral Classification List (W/120) (World Trade Organization (WTO), document MTN.GNS/W/120); and the 2010 Extended Balance of Payments Services Classification (EBOPS 2010) (see also MSITS 2010 paras. 2.11-2.23).

¹⁶ A "natural person of a member" is defined as a national of that member or to a non-national who has the right to permanent residence in that member. See article XXVIII of GATS for further information.

¹⁷In the Area Dimension (CL_Area) of the Balance of Payments (BOP) Data Structure Definitions (DSD), individual country coding follows the International Standard for country codes and codes for their subdivisions (ISO 3166). The latest version of the BOP DSD is available on the Statistical Data and Metadata Exchange (SDMX) website (http://sdmx.org/?page_id=1747).

¹⁸See MSITS 2010, para. 3.41.

¹⁹ See MSITS 2010, paras. 3.57 and 3.58.

²⁰See BPM6. Paragraph 3.17 does not refer specifically to services transactions, but it recommends unbundling two or more different transactions that appear as a single transaction from the perspective of the parties involved.

²¹Travel agencies and tour operators function in that way. Besides the treatment of transactions of travel agents that is described, BPM6 and MSITS 2010 do not provide further information on unbundling. However, both manuals propose an alternative presentation of travel by type of product consumed, which would encourage the unbundling of transactions. This is actually supported by tourism statisticians in the context of the Tourism Satellite Account and, more generally, to better link the information with the need for establishing supply/use and input-output tables.

²² MSITS 2010 and the present Guide adopt the definition of foreign direct investment as provided in the Organization for Economic Cooperation and Development (OECD), OECD Benchmark Definition of Foreign Direct Investment. Available from www.oecd.org/fr/daf/inv/statistiquesetanalysesdelinvestissement/fdibenchmarkdefinition.htm.

²³ These definitions are further described and adapted to the European Union context in Eurostat Foreign Affiliates Statistics (FATS) Recommendations Manual, Eurostat Methodologies and Working Papers (Luxembourg, Publications Office of the European Union, 2012). Available from http://ec.europa.eu/eurostat/en/web/products-manuals-and-guidelines/-/KS-RA-12-016.

²⁴ See, for example, the Eurostat EuroGroups Register.

²⁵ Based on the report of the Secretary-General on integrated economic statistics (E/CN.3/2006/5).

²⁶Guidelines on Integrated Economic Statistics, Studies in Methods, Series F, No. 108 (United Nations publication, Sales No. E.12.XVII.7). Available from http://unstats.un.org/unsd/nationalaccount/docs/IES-Guidelines-e.pdf.

²⁷ Ibid.

²⁸ Ibid.

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