Legal framework for the collection of international business services
The Banque de France collects data on trade in business services in accordance with the European and national legal framework .
Article L. 141-6 of the French Monetary and Financial Code states that the Banque de France is responsible for establishing France’s balance of payments and international investment position [and] contributes to the compilation of the overall external position of the euro area in the framework of its membership in the European System of Central Banks, as well as to the establishment of the statistics of the European Union in the area of balance of payments, international trade in services and foreign direct investments.
The Bank “is authorised to have sent to it by […] industrial and commercial firms any documents and information necessary for carrying out its basic tasks”.
Companies that are significant contributors to France’s international trade in services are subject to the general direct reporting procedure. Under Decision No. 2007-01 of the Monetary Committee of the Banque de France General Council on the collection of statistics for compiling the balance of payments and international investment position of France, the euro area and the European Community, industrial and commercial corporations, together with insurance and reinsurance corporations governed by the French Insurance Code, engaging in foreign transactions of any type and through any means, for amounts that exceed EUR 30 million in any given calendar year for at least one item of the services account or balance of payments income account, are required to report, directly and on a monthly basis, all cross-border transactions or transactions carried out with non-residents in France.
Data on other corporations’ trade in services are collected via an annual survey of a random sample of firms – the Supplementary Survey on International Trade in Services (ECEIS). The ECEIS is recognised by the Conseil National de l’Information Statistique (CNIS – National Statistical Information Board) as being in the public interest and of high statistical quality.
Updated on: 04/09/2020 16:21