Country experience: United States
15.105. The united States Bureau of Economic Analysis (BEA) compiles data on output by industry, with a distinction among goods, services and investment income for each industry. It does so through the collection of such a breakdown of sales in its FATS surveys. As described above, it then makes a number of adjustments for some industries to arrive at the concept of supply (i.e., output) of services. A product type of breakdown, at least distinguishing total services from total goods sales for each industry, is an important achievement for trade analysis and beyond. In particular, enterprises primarily engaged in the production of goods may be important services suppliers. As illustrated in figure 15.3, being able to produce such a dataset enables the United States to have a better sense of the actual services supplied to foreign markets, as compared to the total sales (i.e., of goods and services) of foreign affiliates of United States multinational enterprises engaged in services activities. At the total services level, i.e. activities versus products, the approaches show very different results. The main factors behind such differences are that sales of goods are removed for services producing enterprises (the biggest activity contributing to the difference being wholesale and retail trade) and services produced by goods producing enterprises are included. For 2012, the data showed total sales/supplies of firms engaged in services activities to be twice as high as total sales of services/supply products by all firms.
For total sales/supplies of firms primarily engaged in services activities: beginning in 1999, industry classification was based on the North American Industry Classification System (NAICS) rather than the Standard Industrial Classification (SIC). Since 2009, sales by bank affiliates and by the non-bank affiliates of United States banks have been included in the statistics. For 2009-2012, values for goods and services supplied by majority-owned foreign affiliates in services industries to all foreign countries are used. For 1986-2008, values for total sales by majority-owned foreign affiliates in services industries to all foreign countries are used. Total sales made up of 3 components: goods supplied, services supplied and investment income. In the five years leading up to 2009, investment income accounted, on average, for 3 per cent of total sales.
For sales/supply of services products, beginning in 1999, sales by foreign affiliates were classified as goods or services on the basis of industry codes derived from NAICS rather than SIC, which resulted in a redefinition of sales of services and a net shift of sales from goods to services (see Survey Magazine #81 (November 2001)). Beginning in 2004, services provided by bank affiliates and by the non-bank affiliates of United States banks have been included in the statistics. Also since 2004, the statistics have been presented as “services supplied” (equivalent to services output) rather than “sales of services”. Compared to sales of services, services supplied adds (a) wholesalers’ and retailers’ distributive services, (b) insurers’ premium supplements and (c) banks’ implicitly-charged services, subtracting a proxy measure of insurers’ expected losses. For more information, see Survey #89 (October 2009).