2012/CTI2/GOS/009 Agenda Item: V.3 The International Trade of Services in Colombia Purpose: Information Submitted by: Colombia 48 th Group on Services Meeting Singapore 31 March 2012
THE INTERNATIONAL TRADE OF SERVICES IN COLOMBIA CONTENT Services Sector in Colombian Economy 1
CONTENT Services Sector in Colombian Economy Services Sector in Colombian Economy GROSS DOMESTIC PRODUCT BY MAIN ACTIVITY -2010 Services 54% Tax Subsidies 9% and Agriculture, livestock, hunting, forestry and fishing 6% Mining 7% Construction 7% Manufacturing industries 13% Electricity, gas and water 4% 2
Services Sector in Colombian Economy SERVICES TRADE BALANCE IMPORTS EXPORTS US$ 7,928,000,000 US$ 4,462,000,000 CONTENT Services Sector in Colombian Economy 3
Objective Generate reliable statistics related to internal and external commercial activity of services in Colombia, in order to consolidate an integrated system of measurement within the sector. What are we doing? Interinstitutional coordination between five central level institutionstions that are responsible for numerical data on trade in services. Development of specific researches that investigate economic variables and reveal an annual analysis of the foreign trade in services Interinstitutional Committee on Services Statistics To give recommendations about the actions and strategies in order to strengthen statistics in services MEMBERS: DNP (National Planning Department) Has the mission of defining and promoting the establishment of a strategic vision of the economy through the design, orientation and evaluation of public policies in Colombia and the management and allocation of public investment. Ministry of Commerce, Industry and Tourism: Is the National Executive Ministry of the Government of Colombia concerned with promoting economic growth through trade, tourism and industrial growth. 4
Interinstitutional Committee on Services Statistics To give recommendations about the actions and strategies in order to strengthen statistics in services MEMBERS: DANE. (National Administrative Department of Statistics) Responsible for the planning, implementation, analysis and diffusion of the official statistics of Colombia. Bank of the Republic: Is responsible for collecting, processing and presenting statistical information related to the balance of payments. DIAN (National Tax and Customs Direction): It exercises management and control of customs duties, taxation and foreign exchange in Colombia Achievements Annual sample of Services Measure the structure of the service sector, with the variables of employment, output, income, intermediate consumption, added value and investment. National survey Quarterly sample of services Measure the cyclical behavior of the service sector with the variables of income and employment. National survey Quarterly sample of foreign trade in services Recommendations of MECIS. Extended Balance of Payments Services Classification (EBOPS 2002). Only six categories. Captures information on modes of supply and partner economies 5
Challenges to achieve Expand research coverage to more sectors of trade in services Establish a periodical publication for the figures of foreign trade in services Continuously updating the directory of service companies Ensuring the quality and relevance of research results, in order to achieve international comparability 6