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Balance of Payments

The balance of payments describes the economic movements between Denmark and the rest of the world. The balance of payments for Denmark has been compiled since 1934. Today the main emphasis is placed upon income and expenditures in relation to foreign countries. Originally the most important item was the foreign debt, which is compiled as part of the International Investment Position (IIP) - Denmark's external assets and liabilities. Since 1991 the IIP has been compiled by Danmarks Nationalbank. The balance of payments statistics are compiled in cooperation between Danmarks Nationalbank and Statistics Denmark, the latter being responsible for publishing the consolidated statistics.

Statistical presentation

The balance of payments records the value of the economic transactions which are made within a given period between the Danish balance of payments area and the rest of the world. There are 3 main accounts in the Balance of Payments: the current account (showing transactions with goods, services, primary income and secondary income), the capital account (showing credit and debit entries for non-produced nonfinancial assets and capital transfers between residents and nonresidents) and the financial accounts (showing net acquisition and disposal of financial assets and liabilities)

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Statistical processing

Data originates from other statistics. Some of the sources are used as they stand while others are used as indicators of development.

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The publication of balance of payments statistics in general and of the monthly figures in particular calls great public interest.

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Accuracy and reliability

The compilation of the balance of payments is mainly based on other statistics. Accordingly, the accuracy of the balance of payments statistics is very much dependent upon these statistics. Most importantly, there will be some uncertainty attached to the first compilation of a given period, as some of the relevant information will not be available until later.

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Timeliness and punctuality

The statistics are published every quarter approx. 40 days after the end of the reference period. Main results are published monthly approx. 40 days after the end of the particular month. The final data is published proximately 3 years after the reference period. Punctuality is extremely high .

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The Danish balance of payments statistics are compiled according to the standards outlined in the IMF Balance of Payments Manual.

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Accessibility and clarity

The latest figures of the balance of payments current account are published in News from Statistics Denmark and in National Accounts and Balance of Payments (Statistical News) ("Nationalregnskab og betalingsbalance"). All figures are displayed at StatBank Denmark.

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