# COMMISSION REGULATION (EC) No 602/2006

of 18 April 2006

adapting Regulation (EC) No 184/2005 of the European Parliament and of the Council through the updating of data requirements

## Preamble

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Community,

Having regard to Regulation (EC) No 184/2005 of the European Parliament and of the Council of 12 January 2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment [^1] , and in particular Article 10 thereof,

Whereas:

**(1)** Regulation (EC) No 184/2005 establishes a common framework for the systematic production of Community statistics on balance of payments, international trade in services and foreign direct investment.

**(2)** It is necessary to regularly update the data requirements and to readjust the level of breakdown required to meet changing needs due to economic and technical developments.

**(3)** In the field of portfolio investment, extra-EU liabilities are difficult to measure directly. In practice, they are calculated by subtracting intra-EU net assets from total world liabilities. As a consequence, data on intra-EU net assets are necessary for calculating extra-EU liabilities.

**(4)** Some geographical breakdowns should be changed in order to improve the quality of the balance of payments statistics and to meet users’ needs more effectively.

**(5)** Correct and precise definitions of all concepts and terms used in the Annex of the Regulation (EC) No 184/2005 should be provided in order to avoid misinterpretation.

**(6)** The measures provided for in this Regulation, are in accordance with the opinion of the Balance of Payments Committee set up by Article 11 of Regulation (EC) No 184/2005,

HAS ADOPTED THIS REGULATION:

## **Article 1**

Annex I to Regulation (EC) No 184/2005 is amended in accordance with the Annex to this Regulation.

## **Article 2**

This Regulation shall enter into force on the 20th day following its publication in the *Official Journal of the European Union* .

## Final provisions

This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 18 April 2006. *For the Commission* Joaquín ALMUNIA *Member of the Commission*

[^1] [OJ L 35, 8.2.2005, p. 23](http://publications.europa.eu/resource/oj/JOL_2005_035_R_TOC) .

Annex I to Regulation (EC) 184/2005 is amended as follows:

| 1. | \| ‘ *Portfolio Investment* \| Intra-EU<br>Extra-EU \| World’ \| \|; \| --- \| --- \| --- \| --- \| |
| --- | --- |

**2.** in Table 4 ‘Foreign Direct Investment (FDI) flows’, under B ‘Activity breakdown’, the description of item 505 is replaced by the following text: ‘Direct investment abroad: Total’;

| 3. | (a): ‘RU Russian Federation’ — ‘RU — Russian Federation’<br>‘RU: Russian Federation’ | (a) | ‘RU<br>Russian Federation’ | ‘RU | Russian Federation’ | (b) | ‘BR<br>Brazil’ | ‘BR | Brazil’ | (c) | ‘CN<br>China’ | ‘CN | China’ | (d) | ‘HK<br>Hong Kong’ | ‘HK | Hong Kong’ | (e) | ‘IN<br>India’; | ‘IN | India’; |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| (a) | ‘RU<br>Russian Federation’ | ‘RU | Russian Federation’ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ‘RU | Russian Federation’ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (b) | ‘BR<br>Brazil’ | ‘BR | Brazil’ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ‘BR | Brazil’ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (c) | ‘CN<br>China’ | ‘CN | China’ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ‘CN | China’ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (d) | ‘HK<br>Hong Kong’ | ‘HK | Hong Kong’ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ‘HK | Hong Kong’ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (e) | ‘IN<br>India’; | ‘IN | India’; |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ‘IN | India’; |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

**4.** in Table 7 ‘Activity breakdown levels’, Column ‘Level 2’, the definition of Section K, Division 74, Class 7414, 7415 is replaced by the following text: ‘Business and management consultancy activities, including those of holding companies’.

[^1]: .