Foreign trade in services describes the trade in services (imports and exports) with other countries. The trade is described both in terms of type of services and in terms of partner country/area. The statistics were introduced in connection with the termination of the settlement statistics in Danmarks Nationalbank by new-year 2004/05, cf. Balance of payments.
The statistics show Denmark's imports and exports of services from/to other countries distributed on partner countries and approx. 70 service categories.
Data is collected every month. The data is screened for obvious and likely errors. The completeness of the reports is checked. The data is used for compiling the statistics through a process of grossing up for the trade not covered. The statistics is accordingly to be considered to completely cover the Danish foreign trade in services.
The International trade in services statistics constitute an essential part of the balance of payments statistics and of the rest-of-the-world account of national accounts. The statistics are occasionally commented upon in the public debate.
In the first release of the figures for foreign trade in services there will be a certain degree of uncertainty as a minor part of the data has either not been reported yet or has errors to a degree that it cannot be included in the release. In these cases data will be supplemented by estimations. The reliability of the figures for a given quarter increases in later releases. The final figures are to be considered as fairly reliable, to a decreasing degree though the more detailed level that is applied.
The statistics are published every quarter approx. 40 days after the end of the reference period.
The International trade in services statistics are compiled according to international standards. Accordingly they are comparable with the statistics of other developed countries.
These statistics are published quarterly in a Danish press release, at the same time as the tables are updated in the StatBank. In the StatBank, these statistics can be found under International trade in services. For further information, go to the subject page.