The Overseas Trade in Services Price Indexes were first developed in 1999, to complement existing price and volume indexes for merchandise trade. Statistics New Zealand has been progressively reviewing the services prices indexes since 2005, to ensure that they remain relevant.
The services redevelopment project aims to:
- review and update the sample of service prices included in the indexes to ensure the product specifications remain representative
- review and update the sample of respondents to ensure it adequately covers the importers and exporters of services
- reweight the lower levels of the indexes (below the published level) to ensure they reflect the relevant patterns of transactions
- re-express the services price indexes on a June 2002 quarter base.
However, the project excludes any changes to the scope of services covered by the indexes and the conceptual basis of the indexes.
The services price indexes are being redeveloped and implemented on a rolling basis. So far, the following indexes have been reviewed and implemented.
- Education services (exports)
The education services exports price index is part of the travel services price index. The redeveloped index was implemented from the March 2006 quarter.
- Personal, cultural and recreational services (exports)
The personal, cultural and recreational services exports price index is part of the other services price index. The redeveloped index was implemented from the March 2006 quarter.
- Sea freight services (both exports and imports)
The sea freight services price indexes are the main sub-indexes for transportation. The redeveloped indexes were implemented from the June 2006 quarter.
- Advertising and market research services (exports)
The advertising and market research services exports price index feeds into the other services price index. The redeveloped index was implemented from the December 2006 quarter.
The next issue of Price Index News will provide more detail about the redevelopment of the sea freight services price indexes.
Back to Price Index News: April 2007