国际货币基金组织国际收支统计委员会2025年年度报告

IMF COMMITTEE ON BALANCE OF PAYMENTS STATISTICS EXECUTIVE SUMMARY The 2025 Annual Report of the IMF Committee on Balance of Payments Statistics(BOPCOM) provides an overview of recent trends in global balance of payments andinternational investment position statistics on selected components, particularly The IMF Statistics Department (STA) released the white cover (pre-edited) version of theIntegratedBalanceof Payments and International Investment Position Manual, seventhedition(BPM7)in consultation with BOPCOM in March 2025.1The final version ofBPM7,incorporating language edits and formal IMF typesetting, is expected to be published In line with the joint SNA/BPM implementation strategy, STA continues to supportcountries in implementingBPM7. A BPM/SNA Implementation Playbook has beendeveloped to assist countries in planning their implementation within the recommended2029–30 window. Two SNA/BPM implementation workshops were held in 2025, with Turning to the 2024 balance of payments data, gross cross-border current-account flowscontinued to rise in 2024, reaching their highest level in recent years, driven by strongservices and primary income flows. The share of services exports in total exports, whichdeclined during the COVID-19 pandemic (22.6 percent in 2021), reached a record high should be close to zero—which increased to $549.4 billion in 2024 from $105.4 billion in 2023. Inaddition, the net global IIP—the difference between global external assets andliabilities, which In 2026, BOPCOM’s work program will focus on advancing the work on key clarification topics fromtheBPM7/2025 SNAresearch agenda, finalizing the report of the Task Team on Global Asymmetries(TT-GA), supporting the transition toBPM7-based reporting in IMF publications, and reviewing the The full set of papers presented at theBOPCOM’sOctober 2025 meeting is available athttps://www.imf.org/external/pubs/ft/bop/2025/45.htm. BALANCE OF PAYMENTS COMMITTEE 2025ANNUAL REPORT Approved ByAlbert Kroese[STA]Prepared byCarlos Sánchez-Muñoz,Kristy Howell,Evrim Bese Goksu,andVenkat JosyulaoftheStatistics Department CONTENTS GLOSSARY_________________________________________________________________________________________4 INTRODUCTION _________________________________________________________________________________ 5 RECENT TRENDS IN GLOBAL BOP AND IIP DATA______________________________________________ 5 A. Trends in Selected Balance of Payments Components_________________________________________6B. Asymmetries in the BOP and IIP________________________________________________________________9 WORK UNDERTAKEN BY THE IMF STATISTICS DEPARTMENT AND THE COMMITTEE A. Implementation ofBPM7______________________________________________________________________12B. Task Team on Global Asymmetries____________________________________________________________15 2026 WORK PROGRAM_______________________________________________________________________21 1. Task Team on Global Asymmetries: Progress and Plans_______________________________________17 FIGURES 1. Trend in Global Merchandise Trade Flows, Advanced Economies, Emerging and DevelopingEconomies________________________________________________________________________________________72. Growth in Export of Services, Value of Travel Services, Passenger Services, and TransportServices___________________________________________________________________________________________83. Trends in Investment Flows (Year-on-Year Percent Change)____________________________________9 APPENDIX I. Membership of the IMF Committee on Balance of Payments Statistics and Representatives Glossary 2008 SNASystem of National Accounts 20082025 SNASystem of National Accounts 2025AEsAdvanced EconomiesAEGAdvisory Expert Group on National AccountsBOPBalance of PaymentsBOPSYBalance of Payments Statistics YearbookBOPCOMIMF Committee on Balance of Payments StatisticsBPM6Balance of Payments and International Investment Position Manual, sixtheditionBPM7IntegratedBalance of Payments and International Investment PositionManual, seventh editionCIFCost, insurance, and freightCPISCoordinated Portfolio Investment SurveyEMDEsEmerging and Developing EconomiesESIExchange of Sector InformationESSExternal Sector StatisticsFDIForeign direct investmentFGPFactoryless goods productionFOBFree on boardGDPGross Domestic ProductICMStatInternational Community of Macroeconomic StatisticiansIIPInternational Investment PositionIMTSInternational merchandise trade statisticsIOsInternational OrganizationsISINInternational Securities Identification NumberISWGNAInter-secretariat Working Group on National AccountsPIPPortfolio Investment Positions by Counterpart EconomySDRSpecial Drawing RightsSNASystem of National AccountsSTAIMF’s Statistics DepartmentTT-EPTaskTeam onEmissionPermitsTT-GATask Team on Global AsymmetriesUNECEUnited Nations Economic Commission for EuropeUNESCAPUnited Nations Economic and Social Commission for Asia and Pacific INTRODUCTION 1.The