BELIZE PRESENTATION BY CENTRAL BANK OF BELIZE AND

  • Slides: 7
Download presentation
BELIZE PRESENTATION BY CENTRAL BANK OF BELIZE AND STATISTICAL INSTITUTE OF BELIZE

BELIZE PRESENTATION BY CENTRAL BANK OF BELIZE AND STATISTICAL INSTITUTE OF BELIZE

ROLE OF THE CENTRAL BANK • Central Bank is in charge of compiling BOP

ROLE OF THE CENTRAL BANK • Central Bank is in charge of compiling BOP and hence EBOPS. • CBB compiles BOP on a quarterly basis • EBOPs series going back to 2002. • Two TA missions to Belize: 2004 and 2010 to develop EBOPS compilation • The transition to BPM 6 as of the second quarter of 2011.

SOURCES FOR SERVICES DATA • Annual BOP Survey • Freight Survey • Tourist Visitor

SOURCES FOR SERVICES DATA • Annual BOP Survey • Freight Survey • Tourist Visitor Expenditure Survey • Money Transfer Service Providers (WU & Money. Gram) • Exchange Control Records • Therefore, most data obtained from administrative records of CBB • Data on inflows (XCH 5) and outflows (XCH 1) of Services

SERVICES CAPTURED: OUTFLOW a)Financial i) Insurance Premiums b)Audiovisual j)Reinsurance c)Communication k)Royalty and License Fees

SERVICES CAPTURED: OUTFLOW a)Financial i) Insurance Premiums b)Audiovisual j)Reinsurance c)Communication k)Royalty and License Fees d)Courier l)Business Management Consultancy e)Information m)Head Office Expenses f)Computer n)Advertisements g)Embassy o)Correspondence Courts, Sports & Culture h)Legal p)Military Units & Agencies

SERVICES: INFLOWS a)Tourism i)Legal b)Transportation j)Embassies & Military Agencies c)Insurance k)Financial d)Communication e)Accounting f)Architectural

SERVICES: INFLOWS a)Tourism i)Legal b)Transportation j)Embassies & Military Agencies c)Insurance k)Financial d)Communication e)Accounting f)Architectural g)Engineering h)Scientific

ROLE OF THE STATISTICAL INSTITUTE OF BELIZE • Business Register • Need to create

ROLE OF THE STATISTICAL INSTITUTE OF BELIZE • Business Register • Need to create a Business Register for Belize • Business Establishment Survey 2016 • Sample extracted from a frame (VR and GST) • Identified: Number of employees, revenue, classification of businesses (ISIC Rev. 4) & Foreign Affiliated businesses

RECOMMENDATIONSCHALLENGES • Revisit estimation of Insurance Services • Explore estimation of FISIM • Greater

RECOMMENDATIONSCHALLENGES • Revisit estimation of Insurance Services • Explore estimation of FISIM • Greater collaboration with SIB to update FDI register • Resource constraints and confidentiality issues. • Statistical legislation prohibits the SIB from sharing business register with other organizations.