| Code | BX.GSR.TRVL.ZS |
| Indicator Name | Travel services (% of service exports, BoP) |
| Short definition | Travel services cover goods and services for own use or to give away acquired from an economy by nonresidents during visits to that economy, or acquired from other economies by residents during visits to these other economies. This indicator is expressed as a percentage of service exports which are services provided by residents to non-residents. |
| Long definition | Travel services cover goods and services for own use or to give away acquired from an economy by nonresidents during visits to that economy, or acquired from other economies by residents during visits to these other economies. This indicator is expressed as a percentage of service exports which are services provided by residents to non-residents. |
| Source | Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF) |
| Topic | Economic Policy & Debt: Balance of payments: Current account: Goods, services & income |
| Dataset | WDI |
| Unit of measure | % |
| Periodicity | Annual |
| Reference period | 1960-2024 |
| Aggregation method | Weighted average |
| Statistical concept and methodology | Methodology: Balance of payments statistics are compiled in accordance with international standards: Balance of Payments and International Investment Position Manual, 6th or 5th editions. Specific information on how countries compile their balance of payments statistics can be found on the IMF website: https://dsbb.imf.org/
Statistical concept(s): The international accounts for an economy summarize the economic relationships between residents of that economy and nonresidents. They comprise the following:
(a) the international investment position (IIP)—a statement that shows at a point in time the value of: financial assets of residents of an economy that are claims on nonresidents or are gold bullion held as reserve assets; and the liabilities of residents of an economy to nonresidents;
(b) the balance of payments—a statement that summarizes economic transactions between residents and nonresidents during a specific time period; and
(c) the other changes in financial assets and liabilities accounts—a statement that shows other flows, such as valuation changes, that reconciles the balance of payments and IIP for a specific period, by showing changes due to economic events other than transactions between residents and nonresidents. |
| Development relevance | This indicator is related to the balance of payments, which is a statement that summarizes economic transactions between residents and nonresidents during a specific time period. It consists of the goods and services account (the trade balance), the primary account, the secondary income account, the capital account, and the financial account. It is useful for policymakers, economists, and analysts as it provides insights into a country's financial stability, the effectiveness of its fiscal and monetary policies, and its economic relationship with other countries. Understanding the balance of payments can help in making informed decisions regarding economic policies and strategies for sustainable growth. More specifically, this indicator is related to the goods and services accounts of the balance of payments, which records the value of a country's exports and imports of goods and services over a period of time. It helps in understanding the trade balance, which is a key indicator of a country's economic health. This information is valuable for policymakers, economists, investors, and businesses in making informed decisions related to trade policies, investment strategies, and economic planning. |
| Other notes | Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards. |
| License URL | https://datacatalog.worldbank.org/public-licenses#cc-by |
| License Type | CC BY-4.0 |
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