Euro area - Computer, communications and other services (% of commercial service imports)

The value for Computer, communications and other services (% of commercial service imports) in Euro area was 60.35 as of 2020. As the graph below shows, over the past 45 years this indicator reached a maximum value of 60.35 in 2020 and a minimum value of 30.35 in 1979.

Definition: Computer, communications and other services (% of commercial service imports) include such activities as international telecommunications, and postal and courier services; computer data; news-related service transactions between residents and nonresidents; construction services; royalties and license fees; miscellaneous business, professional, and technical services; and personal, cultural, and recreational services.

Source: International Monetary Fund, Balance of Payments Statistics Yearbook and data files.

See also:

Year Value
1975 31.65
1976 30.50
1977 30.76
1978 30.82
1979 30.35
1980 31.37
1981 32.57
1982 34.38
1983 34.25
1984 33.46
1985 34.12
1986 33.86
1987 33.01
1988 31.50
1989 31.83
1990 33.61
1991 33.28
1992 31.89
1993 34.61
1994 36.69
1995 36.90
1996 36.85
1997 38.45
1998 39.97
1999 43.02
2000 44.66
2001 46.40
2002 45.69
2003 45.65
2004 46.73
2005 47.34
2006 47.36
2007 47.58
2008 47.50
2009 49.47
2010 48.40
2011 48.72
2012 50.01
2013 48.80
2014 49.88
2015 52.37
2016 52.23
2017 52.09
2018 52.06
2019 52.71
2020 60.35

Development Relevance: Trade in services differs from trade in goods because services are produced and consumed at the same time. Thus services to a traveler may be consumed in the producing country (for example, use of a hotel room) but are classified as imports of the traveler's country. In other cases services may be supplied from a remote location; for example, insurance services may be supplied from one location and consumed in another.

Limitations and Exceptions: Balance of payments statistics, the main source of information on international trade in services, have many weaknesses. Disaggregation of important components may be limited and varies considerably across countries. There are inconsistencies in the methods used to report items. And the recording of major flows as net items is common (for example, insurance transactions are often recorded as premiums less claims). These factors contribute to a downward bias in the value of the service trade reported in the balance of payments. Efforts are being made to improve the coverage, quality, and consistency of these data. Eurostat and the Organisation for Economic Co-operation and Development, for example, are working together to improve the collection of statistics on trade in services in member countries. Still, difficulties in capturing all the dimensions of international trade in services mean that the record is likely to remain incomplete. Cross-border intrafirm service transactions, which are usually not captured in the balance of payments, have increased in recent years. An example is transnational corporations' use of mainframe computers around the clock for data processing, exploiting time zone differences between their home country and the host countries of their affiliates. Another important dimension of service trade not captured by conventional balance of payments statistics is establishment trade - sales in the host country by foreign affiliates. By contrast, cross-border intrafirm transactions in merchandise may be reported as exports or imports in the balance of payments.

Statistical Concept and Methodology: The balance of payments (BoP) is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions. The concepts and definitions underlying the data are based on the sixth edition of the International Monetary Fund's (IMF) Balance of Payments Manual (BPM6). Balance of payments data for 2005 onward will be presented in accord with the BPM6. The historical BPM5 data series will end with data for 2008, which can be accessed through the World Development Indicators archives. The complete balance of payments methodology can be accessed through the International Monetary Fund website (www.imf.org/external/np/sta/bop/bop.htm).

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Imports