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Survey Sampling Methodology in Official Statistics in Latvia Foreign Investment Business Survey

Survey Sampling Methodology in Official Statistics in Latvia Foreign Investment Business Survey. Janis Lapins Baltic-Nordic-Ukrainian Summer School on Survey Statistics Kyiv , August 23-27 , 200 9. Structure of the presentation. Introduction BoP and d ata sources

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Survey Sampling Methodology in Official Statistics in Latvia Foreign Investment Business Survey

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  1. Survey Sampling Methodology in Official Statistics in LatviaForeign Investment Business Survey JanisLapins Baltic-Nordic-Ukrainian Summer School on Survey Statistics Kyiv, August23-27, 2009

  2. Structure of the presentation • Introduction • BoP and data sources • Quarterly business survey on foreign investment • Annual business survey on foreign investment • Dissemination of data

  3. Introduction • Statistics Department of the Bank of Latvia (Latvijas Banka, LB) – since April 5, 1993 • Balance of payments (BOP) – responsibility of LB since 2000 • Foreign investments business survey – carried out by LB since 2001 • Data compilation process (BOP, IIP, FDI, Foreign debt), development of methodology • Maintenance of the compilation system

  4. Balance of payments • In economics, the balance of payments (BOP) measures the payments that flow between any individual country and all other countries. • It is used to summarize all international economic transactions for that country during a specific time period, usually a year. • The BOP is determined by the country's exports and imports of goods, services, and financial capital, as well as financial transfers. • It reflects all payments and liabilities to foreigners (debits) and all payments and obligations received from foreigners (credits). • Balance of payments is one of the major indicators of a country's status in international trade, with net capital outflow • (From Wikipedia, the free encyclopedia).

  5. Balance of payments compiled at LB • Quarterlyandannual • by BOPSY codes (bypositionsusedinthe IMF balanceofpaymentsstatisticsyearbook), • bycountry, • bytypeofindustry (NACE code) • Monthlyonlyfewmainpositions (mainlyforinternaluse) • IIP bycountry, bytypeofindustry

  6. Data sources for compilation of BoP • Bank of Latvia • quarterly and annual foreign investment survey of companies • MFI statistics • statistics on non-bank external payments (ITRS) • Financial and Capital Market Commission • aggregated data on investment in banks’ share capital • aggregated data on banks’ annual profit/loss and its distribution • Riga Stock Exchange • prices for companies shares quoted at the Stock Exchange • State Register of Enterprises

  7. Quarterly business survey on foreign investment – data collected • Data source for FDI, portfolio investments, other investments and related accrued income flows of other sectors • Divided in three parts – FDI in Latvia, FDI abroad, other foreign assets and liabilities • Country breakdown • Full reconciliation of positions and changes in positions reflecting net flows, price changes, exchange rate changes and other adjustments

  8. Quarterly survey on foreign investment – sampling frame • Stratified simple random sampling is used • The sampling frame is built up using: • Quarterly survey data of the previous year • State Register of Enterprises • Information obtained from the CSB • ITRS data • Annual survey data on foreign investment • Other sources (mass media, etc.) • The sampling frame is updated annually just before sampling (significant changes discovered during the survey year areupdated as soon as they have been identified)

  9. Quarterly survey on foreign investment – stratification • The activity indicator is calculated for each company in accordance with the BOPSY breakdown by taking the max transactions value either from the survey or ITRS data for the previous year • The companies are arranged in a descending order according to the activity indicator and divided into size groups • The target population is further stratified depending on the company’s NACE

  10. Quarterly survey on foreign investment – sample allocation • The Neyman’soptimum allocationover strata according to the activity indicator is determined • Some adjustments in the sample allocation are made to reach satisfaction quality demands for main domains of interest • Within each stratum the list of companies to be included in the sample is drawn by using the simple random sampling approach

  11. Quarterly survey on foreign investment – dealing with non-response • Reminders by phone allow to reach near to 100% of response rate among the significant units • Response rate ~95% • Dealing with non-response • Big units: imputation based on survey data on previous periods + ITRS data (case by case) • Other units: adjustment of weights

  12. Response level, 4th quarter, 2008

  13. Quarterly survey - estimation • HT estimates for totals • Unweighted survey data are used for country and NACE breakdown • Grossing up part of the survey data to the whole population is showed as “Country not specified” and “Kind of activity not classified” in output tables by country and by NACE breakdown -

  14. Annual survey on foreign investment – why needed? • Sample design and the total sample size of the quarterly survey allows to reach the necessary quality of estimates anly for flows (and not for stocks). Therefore additional annual sample survey on foreign investments is carried out • From units not included in the sample of the quarterly survey another stratified simple random sample is taken as a sample for annual survey on foreign investment. Sampled companies are surveyed using a simplified questionnaire

  15. Annual survey on foreign investment – usage of data • Data of the annual survey are used for: • Production of high quality estimates of IIP annual positions of other sectors • Production (by combining of the annual IIP estimates with the estimates of quarterly flows) of quarterly estimates of IIP positions of other sectors at the end of quarters • Updating of the quarterly sampling frame

  16. Usage of ITRS data • Data source for compilation of the monthly BoP • As a supplementary data source • For building of the sampling frame of the quarterly survey of foreign investments • Updating of the sampling frame during the survey year • For cleaning of quarterly survey data • For imputation

  17. Dissemination of data • Monthly – T+30 business days • Quarterly – last business day of the next quarter • FDI flows and positions by: • country • kind of activity by country • inflow and outflow components

  18. Dissemination of data • Quarterly and annual BoP • Published in Quarterly Bulletin Latvia's Balance of Payments • Latvia's Balance of Payments Statistics Databaseis available for users at: http://www.bank.lv/eng/main/all/statistics/bop_stat/database/

  19. Dissemination of data • Monthly BoP • Published in Monthly Bulletin Latvia's Balance of Payments (Key Items) • Since 15.06.2009 the statistical data on Latvia's Balance of Payments (Key Items) are integrated in the Latvia's Balance of Payments Statistical Database available at: http://www.bank.lv/eng/main/all/statistics/bop_stat/database/

  20. THANK YOU !

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