International trade in services is of utmost importance for economic development in Austria. Not only is Austria a favored tourism destination but also business related services are developing successfully.

To draw up the balance of payments, the OeNB compiles data on Austria’s international service trade in close cooperation with Statistics Austria. While travel data are derived from varying sources, including statistics of overnight stays, guest surveys and telephone interviews, information about business services stems from a company survey (concentration sample).

Business services comprise an array of service categories, such as freight and passenger transport, construction, computer and information services, business and management consulting services as well as research and development services. The classification corresponds with the Extended Balance of Payments Services Classification (EBOPS 2010). Revenues (exports) as well as expenses (imports) are compiled.

Besides entering the balance of payments, data on trade in services are complemented with information from other sources of company-level data (structural business statistics, the company register and the OeNB’s company database). The results provide a working data series for national research purposes that is continuously being refined.