COMMISSION REGULATION (EC) No 707/2009
of 5 August 2009
amending Regulation (EC) No 184/2005 of the European Parliament and of the Council on Community statistics concerning balance of payments, international trade in services and foreign direct investment, as regards the update of data requirements
THE COMMISSION OF THE EUROPEAN COMMUNITIES,
Having regard to the Treaty establishing the European Community,
Having regard to Regulation (EC) No 184/2005 of the European Parliament and of the Council of 12 January 2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment (1), and in particular Article 10 thereof,
Whereas:
(1)
Regulation (EC) No 184/2005 establishes a common framework for the systematic production of Community statistics on balance of payments, international trade in services and foreign direct investment.
(2)
Due to the economic and technical developments in the area of balance of payments, it is necessary to regularly update the data requirements and to adapt the level of the breakdown laid down in Regulation (EC) No 184/2005.
(3)
The adoption of Regulation (EC) No 1161/2005 of the European Parliament and of the Council of 6 July 2005 on the compilation of quarterly non-financial accounts by institutional sector (2) has resulted in a need for additional balance of payments statistics.
(4)
In order to improve the accuracy of aggregates for income and current account at the Community level, to ensure consistency between the aggregation method for Portfolio Investment Income (current account) and Portfolio Investment flows (financial account), and to ensure consistency between calculations of the European Commission (Eurostat) and those of the European Central Bank (ECB), it is necessary to introduce certain amendments of the data requirements in Table 1 ‘Balance of payments euro indicators’ and Table 2 ‘Balance of payments quarterly statistics’ of Annex I to Regulation (EC) No 184/2005.
(5)
The accession of Bulgaria and Romania to the European Union and the adoption of the euro by Slovenia, Cyprus, Malta and Slovakia require corresponding changes to be made in Table 6 ‘Geographical breakdown levels’ of Annex I to Regulation (EC) No 184/2005.
(6)
Following the adoption of Regulation (EC) No 1893/2006 of the European Parliament and of the Council of 20 December 2006 establishing the statistical classification of economic activities NACE Revision 2 and amending Council Regulation (EEC) No 3037/90 as well as certain EC Regulations on specific statistical domains (3), it is necessary to adapt the activity breakdown levels in Table 7 ‘Activity breakdown levels’ of Annex I to Regulation (EC) No 184/2005.
(7)
The measures provided for in this Regulation, are in accordance with the opinion of the Balance of Payments Committee set up by Regulation (EC) No 184/2005,
HAS ADOPTED THIS REGULATION:
Article 1
Annex I to Regulation (EC) No 184/2005 is amended as set out in the Annex to this Regulation.
Article 2
This Regulation shall enter into force on the 20th day following its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 5 August 2009.