• Glossary

    Asian service hubs

    Asian service hubs include Singapore and Hong Kong.

    Commercial services

    Commercial services are defined by the IMF’s Balance of Payments Manual (sixth edition). For the purposes of the analysis in this report services trade reflects commercial services trade only.

    European IP hubs

    European IP hubs include Ireland, Netherlands, Switzerland and Luxembourg.

    Foreign direct investment (FDI)

    FDI is defined in the IMF’s Balance of Payments Manual (sixth edition). It reflects net inflows of investment to acquire a lasting management interest (10% or more of voting stock). It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. The impact of foreign exchange and interest rates on this analysis is limited. For further information on foreign exchange impacts on Australia’s international investment position, refer to RBA, Foreign currency exposure and hedging in Australia, December 2013 External Link

    Gross value added (GVA)

    GVA is used to measure the contribution to GDP at an industry level. Broadly, GVA represents payments to employees and company profits.

    Non-financial services industries

    Non-financial services industries include wholesale, retail, accommodation/food services, transport/postal services, information/media/telecommunication services, rental/hiring/real estate services, professional/scientific/technical services, administrative/support services, government services, education services, healthcare services and arts/recreational/all other services.

    Research and development (R&D)

    R&D expenditure represents all current and capital expenditures (both public and private) on creative work undertaken systematically to increase knowledge

    Specified countries

    As per the International Dealings Schedule Instructions. These include Aruba, the Bahamas, Belize, Bermuda, Dominica, Grenada, Liberia, Mauritius, Panama, Samoa, Seychelles, St. Kitts and Nevis, St. Lucia, St. Vincent, the Grenadines and Vanuatu.

    At times, national accounts figures were not available for some countries. In these circumstances, some countries were excluded or have had previous-year data applied to the missing data point. Results should be interpreted with some caution.

    Total international related party debt

    Total international related party debt includes interest-bearing and interest-free debt.

    Total tax revenue

    The World Bank defines total tax revenue as: compulsory transfers to the central government for public purposes. Certain compulsory transfers, such as fines, penalties, and most social security contributions, are excluded. External Link

      Last modified: 13 Jan 2015QC 43707