2.2 Ships and aircraft DK Søren Rich ()

Ships and aircraft –
The economic ownership principle –
status on implementation
Nordic meeting on Trade in Goods and
Services/BoP 2014
Tórshavn, Faroe Islands, 16-18 September 2014
Søren Rich, Senior Adviser, Statistics Denmark
Outcome of Eurostat discussions
2010-2013 –Danish view
 In general satisfied with the outcome
 Very important that business accounts standards IAS17
was adopted as a tool/method
 No Holy Grail found: the perfect data source was not
 Use of commercial databases like IHS Fairplay was
fortunately not adopted as main data source…
 … and recommendations from Task Force ‘Trade in
Ships and Aircraft’ allow for the necessary freedom of
collection methods.
 Good cooperation with Iceland about finding a joint
position on the issue and getting influence on the
outcome of Task Force ‘Trade in Ships and Aircraft’
Danish implementation of economic
ownership principles so far
Gradual implementation of economic ownership in External
Trade in Goods Statistics:
 Ships: Bareboat leasing included since 2010
 Aircraft: Activities of Danish leasing companies included
since 2011
 Ships: Flagging in/out currently under investigations
Point of departure: Ships under foreign flag should not be included…
 … but a confirmation is needed.
 Full implementation of economic ownership is expected to
take place with the finalisation of statistics
for 2012 next year.
Potential for Nordic cooperation
 Close dialogue and exchange of experience on how to
implement economic ownership concept within ships and
 Exchange of (micro) data on identified transactions can
facilitate the implementation of economic ownership and
improve the quality
 Sweden, Norway and Denmark
could intensify the cooperation on
how to record the transactions by
Scandinavian Airlines
The future of economic ownership in
External Trade in Goods
According to EU Commissions proposal for new
legislation for business statistics (FRIBS) the following
will happen to economic ownership principle:
 Ships and aircraft: the principle is kept in FRIBS
 Spacecraft: the principle is kept in FRIBS
 Goods delivered to ships and
aircraft: replaced by the flag nation
of the ship/aircraft
 Sea products: replaced by the flag
nation of the ship landing the
The end
Thanks for your attention!
Questions, comments?
Søren Rich, [email protected]

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