Trade in Services - OverviewTrade in Services - Overview

Kevin B. ArmbristerKevin B. ArmbristerAssistant StatisticianAssistant Statistician

22

Major Categories of Trade in Major Categories of Trade in ServicesServices

TransportationTransportation TravelTravel Insurance ServicesInsurance Services Construction ServicesConstruction Services Royalties and Licence FeesRoyalties and Licence Fees Offshore Companies Local Offshore Companies Local

Expenses Expenses Government Government Other ServicesOther Services

33

Air ArrivalsAir Arrivals• Stopover ArrivalsStopover Arrivals• Day ArrivalsDay Arrivals

Sea TravelersSea Travelers• Cruise ArrivalsCruise Arrivals• Cruise-Stopover ArrivalsCruise-Stopover Arrivals

TravelTravel

Travel DebitTravel Debit

Personal Personal Travel Travel StudentsStudentsBusiness Business TravelersTravelersMedical Medical PatientsPatients

Visitor Visitor TravelTravel Travel CreditTravel Credit

44

Official Source of Travel CreditOfficial Source of Travel CreditMinistry of Tourism Ministry of Tourism

•Exit SurveyExit Survey•Hotel Performance RecordsHotel Performance Records•Survey of Industry ActivitiesSurvey of Industry Activities

Official Source of Travel DebitOfficial Source of Travel DebitExchange Control RecordsExchange Control Records

Source of DataSource of Data

55

Transportation Services - Coverage in Transportation Services - Coverage in Balance of Payments of the Balance of Payments of the BahamasBahamas

Transportation by AirTransportation by Air

Transportation by SeaTransportation by Sea

66

Acrobat Document Acrobat Document

Acrobat Document

Acrobat Document

Acrobat Document

Acrobat Document

Acrobat Document

Acrobat Document

Acrobat Document

77

TransportationTransportation

Passenger ServicesPassenger Services

Freight and Insurance Freight and Insurance ServicesServices

Port and Handling ChargesPort and Handling Charges

88

MainMain data source for Transportation: data source for Transportation:

•SurveyAirlines Companies

Domestic AirlinesAgents for Foreign Airlines

Shipping CompaniesDomestic Shipping CompaniesForeign Shipping Companies

•Exchange Control Records

99

ConstructionConstructionConstruction: Coverage in the Bahamas’s Construction: Coverage in the Bahamas’s balance of paymentsbalance of payments

Resident CompaniesResident Companies Foreign Contractors working for local Foreign Contractors working for local companiescompanies

1010

Main data source for Construction:

Survey Direct Company Survey

Exchange Control Records

Bahamas Investment Authority

1111

ConstructionConstruction

DebitDebitNon-resident contractors Non-resident contractors

CreditCreditNot considered an issue since the Not considered an issue since the

early 50s/60searly 50s/60s

1212

Advantages and Advantages and DisadvantagesDisadvantages

of Present Systemof Present System Exchange Control Records Exchange Control Records

Ability to capture transactionsAbility to capture transactions Reported revenue from hotels and Reported revenue from hotels and

agentsagents Immigration records at point of entryImmigration records at point of entry Availability of timely dataAvailability of timely data Lack of empirical studies on available Lack of empirical studies on available

datadata

1313

Insurances ServicesInsurances Services Reinsurance premiumsReinsurance premiums Transportation InsuranceTransportation Insurance Non-merchandise insuranceNon-merchandise insurance

1414

Royalties and License Royalties and License feesfees Franchise fees Franchise fees Asset titlesAsset titles

1515

Government n.i.eGovernment n.i.e EmbassiesEmbassies ConsulatesConsulates Military basesMilitary bases

1616

Other Supporting Other Supporting AgenciesAgencies Department of StatisticsDepartment of Statistics Ministry of FinanceMinistry of Finance Ministry of Financial ServicesMinistry of Financial Services Ministry of TourismMinistry of Tourism The Department of Agriculture and The Department of Agriculture and

FisheriesFisheries Hotel Corporation of the BahamasHotel Corporation of the Bahamas

1717

Plans for ImprovementPlans for Improvement Review of National PresentationReview of National Presentation Validation of DataValidation of Data Empirical AnalysisEmpirical Analysis Reporting conventionsReporting conventions Greater coordination efforts between Greater coordination efforts between

agenciesagencies

1818

Travel vs Overall Trade in Travel vs Overall Trade in ServicesServices

0

200

400

600

800

1,000

1,200

1,400

1,600

1,80019

90

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

Trade in services Travel

1919

The EndThe End