Balance of Payments Statistics Division, Department of Statistical Analysis and Computer Services, Reserve Bank of India, Mumbai.
JEL Classification: E01, F10
The services comprises a diverse mix of economic activities, ranging from traditional services such as travel, transportation, construction etc., to emerging services such as Information Technology, Communication and Media, Engineering, etc. Given this rapid increase in contribution to the economy, the need for accurate and timely statistical measurement is important. Measuring services is inherently difficult. The statistical measurement of the emerging services, which span across various industrial sectors, poses tremendous challenges and raises interesting and problematic conceptual issues. An overview of global initiatives in this area and of the statistical systems presently available in India to measure the international trade in services are provided. The data compilation issues in India and future challenges are also discussed.
