Lesotho | Transport services (% of commercial service exports)
Transport services (% of commercial service exports) covers all transport services (sea, air, land, internal waterway, space, and pipeline) performed by residents of one economy for those of another and involving the carriage of passengers, movement of goods (freight), rental of carriers with crew, and related support and auxiliary services. Excluded are freight insurance, which is included in insurance services; goods procured in ports by nonresident carriers and repairs of transport equipment, which are included in goods; repairs of railway facilities, harbors, and airfield facilities, which are included in construction services; and rental of carriers without crew, which is included in other services. Development relevance: Trade in services differs from trade in goods because services are produced and consumed at the same time. Thus services to a traveler may be consumed in the producing country (for example, use of a hotel room) but are classified as imports of the traveler's country. In other cases services may be supplied from a remote location; for example, insurance services may be supplied from one location and consumed in another. Limitations and exceptions: Balance of payments statistics, the main source of information on international trade in services, have many weaknesses. Disaggregation of important components may be limited and varies considerably across countries. There are inconsistencies in the methods used to report items. And the recording of major flows as net items is common (for example, insurance transactions are often recorded as premiums less claims). These factors contribute to a downward bias in the value of the service trade reported in the balance of payments. Efforts are being made to improve the coverage, quality, and consistency of these data. Eurostat and the Organisation for Economic Co-operation and Development, for example, are working together to improve the collection of statistics on trade in services in member countries. Still, difficulties in capturing all the dimensions of international trade in services mean that the record is likely to remain incomplete. Cross-border intrafirm service transactions, which are usually not captured in the balance of payments, have increased in recent years. An example is transnational corporations' use of mainframe computers around the clock for data processing, exploiting time zone differences between their home country and the host countries of their affiliates. Another important dimension of service trade not captured by conventional balance of payments statistics is establishment trade - sales in the host country by foreign affiliates. By contrast, cross-border intrafirm transactions in merchandise may be reported as exports or imports in the balance of payments. Statistical concept and methodology: The balance of payments (BoP) is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions. The concepts and definitions underlying the data are based on the sixth edition of the International Monetary Fund's (IMF) Balance of Payments Manual (BPM6). Balance of payments data for 2005 onward will be presented in accord with the BPM6. The historical BPM5 data series will end with data for 2008, which can be accessed through the World Development Indicators archives. The complete balance of payments methodology can be accessed through the International Monetary Fund website (www.imf.org/external/np/sta/bop/bop.htm).
Publisher
The World Bank
Origin
Kingdom of Lesotho
Records
63
Source
Lesotho | Transport services (% of commercial service exports)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975 2.85714286
1976 3.65853659
1977 3.03030303
1978 3.36134454
1979 3.2
1980 2.95857988
1981 2.43902439
1982 0.23610588
1983 0.57057643
1984 2.27635214
1985 2.11144899
1986 1.73652372
1987 0.97452211
1988 24.22627789
1989 23.72348126
1990 22.87191562
1991 13.36795893
1992 12.34358567
1993 11.32794871
1994 14.507743
1995 10.46506569
1996 10.02899112
1997 14.43404233
1998 9.11865535
1999 3.31580874
2000 2.73201421
2001 2.52348886
2002 2.67262928
2003 2.22229029
2004 2.07685493
2005 2.64646403
2006 1.97111436
2007 2.81201405
2008 2.27453569
2009 2.40205085
2010 8.64062653
2011 10.80205978
2012 9.54564391
2013 6.03848552
2014 6.891014
2015 2.50424131
2016 1.42489214
2017 2.07299046
2018 2.05455736
2019 2.22360304
2020 4.50014504
2021 2.78880326
2022 3.16437653
Lesotho | Transport services (% of commercial service exports)
Transport services (% of commercial service exports) covers all transport services (sea, air, land, internal waterway, space, and pipeline) performed by residents of one economy for those of another and involving the carriage of passengers, movement of goods (freight), rental of carriers with crew, and related support and auxiliary services. Excluded are freight insurance, which is included in insurance services; goods procured in ports by nonresident carriers and repairs of transport equipment, which are included in goods; repairs of railway facilities, harbors, and airfield facilities, which are included in construction services; and rental of carriers without crew, which is included in other services. Development relevance: Trade in services differs from trade in goods because services are produced and consumed at the same time. Thus services to a traveler may be consumed in the producing country (for example, use of a hotel room) but are classified as imports of the traveler's country. In other cases services may be supplied from a remote location; for example, insurance services may be supplied from one location and consumed in another. Limitations and exceptions: Balance of payments statistics, the main source of information on international trade in services, have many weaknesses. Disaggregation of important components may be limited and varies considerably across countries. There are inconsistencies in the methods used to report items. And the recording of major flows as net items is common (for example, insurance transactions are often recorded as premiums less claims). These factors contribute to a downward bias in the value of the service trade reported in the balance of payments. Efforts are being made to improve the coverage, quality, and consistency of these data. Eurostat and the Organisation for Economic Co-operation and Development, for example, are working together to improve the collection of statistics on trade in services in member countries. Still, difficulties in capturing all the dimensions of international trade in services mean that the record is likely to remain incomplete. Cross-border intrafirm service transactions, which are usually not captured in the balance of payments, have increased in recent years. An example is transnational corporations' use of mainframe computers around the clock for data processing, exploiting time zone differences between their home country and the host countries of their affiliates. Another important dimension of service trade not captured by conventional balance of payments statistics is establishment trade - sales in the host country by foreign affiliates. By contrast, cross-border intrafirm transactions in merchandise may be reported as exports or imports in the balance of payments. Statistical concept and methodology: The balance of payments (BoP) is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions. The concepts and definitions underlying the data are based on the sixth edition of the International Monetary Fund's (IMF) Balance of Payments Manual (BPM6). Balance of payments data for 2005 onward will be presented in accord with the BPM6. The historical BPM5 data series will end with data for 2008, which can be accessed through the World Development Indicators archives. The complete balance of payments methodology can be accessed through the International Monetary Fund website (www.imf.org/external/np/sta/bop/bop.htm).
Publisher
The World Bank
Origin
Kingdom of Lesotho
Records
63
Source