Commission Regulation (EC) No 602/2006 of  18 April 2006  adapting Regulation (EC) No 184/2005 of the European Parliament and of the Council through the updating of data requirements
Date: 2006-04-18
Institutions: European Commission
Subjects: EU statistics, balance of payments, trade statistics

L 106/10

EN

Official Journal of the European Union

19.4.2006

COMMISSION REGULATION (EC) No 602/2006

of 18 April 2006

adapting Regulation (EC) No 184/2005 of the European Parliament and of the Council through the
updating of data requirements

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty
Community,

establishing the European

Having regard to Regulation (EC) No 184/2005 of the European
the Council of 12 January 2005 on
Parliament and of
Community statistics concerning balance of payments, interna-
tional trade in services and foreign direct investment (1), and in
particular Article 10 thereof,

Whereas:

(1)

(2)

(3)

Regulation (EC) No 184/2005 establishes a common
of
framework
Community statistics on balance of payments,
interna-
tional trade in services and foreign direct investment.

production

systematic

the

for

It is necessary to regularly update the data requirements
and to readjust the level of breakdown required to meet
changing needs due to economic and technical devel-
opments.

to measure directly.

In the field of portfolio investment, extra-EU liabilities are
difficult
they are
calculated by subtracting intra-EU net assets from total
world liabilities. As a consequence, data on intra-EU net
assets are necessary for calculating extra-EU liabilities.

In practice,

(4)

(5)

(6)

to improve

Some geographical breakdowns should be changed in
order
the balance of
the quality of
payments statistics and to meet users’ needs more effec-
tively.

Correct and precise definitions of all concepts and terms
used in the Annex of the Regulation (EC) No 184/2005
should be provided in order to avoid misinterpretation.

The measures provided for in this Regulation, are in
accordance with the opinion of
the Balance of
Payments Committee set up by Article 11 of Regulation
(EC) No 184/2005,

HAS ADOPTED THIS REGULATION:

Article 1

Annex I
accordance with the Annex to this Regulation.

to Regulation (EC) No 184/2005 is amended in

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, 18 April 2006.

For the Commission

Joaquín ALMUNIA
Member of the Commission

(1) OJ L 35, 8.2.2005, p. 23.

19.4.2006

EN

Official Journal of the European Union

L 106/11

ANNEX

Annex I to Regulation (EC) 184/2005 is amended as follows:

1.

in Table 2 ‘Balance of payments quarterly statistics’, Section III ‘Financial Account’, data requirements for portfolio
investment are replaced by the following text:

‘Portfolio Investment

Net assets

Net liabilities

Net

Intra-EU
Extra-EU

World’

2.

in Table 4 ‘Foreign Direct Investment (FDI) flows’, under B ‘Activity breakdown’, the description of item 505 is
replaced by the following text:

‘Direct investment abroad: Total’;

3.

in Table 6 ‘Geographical breakdown levels’, in the column headed ‘Level 1’, the following countries are inserted,
opposite the corresponding entries shown in the column headed ‘Level 2’:

(a)

‘RU Russian Federation’

(b)

‘BR

Brazil’

(c)

‘CN China’

(d)

‘HK Hong Kong’

(e)

‘IN

India’;

4.

in Table 7 ‘Activity breakdown levels’, Column ‘Level 2’, the definition of Section K, Division 74, Class 7414, 7415 is
replaced by the following text:

‘Business and management consultancy activities, including those of holding companies’.