## BPM7 Chapter 1. Introduction: Annotated Outline

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**Canonical URL:** [BPM7 Chapter 1. Introduction: Annotated Outline](https://www.imf.org/-/media/files/data/statistics/bmp7/final-annotated-outlines/bpm7-chapter-1-introduction-annotated-outline.pdf)

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### I. Introduction — scope and structure
- The chapter explains the main objectives of the BPM7 (Manual) and maintains the overall structure from BPM6 Chapter 1 while adding subsections on the new topical chapters and communication.
- The chapter will have separate sections on:
  - Purposes of the Manual (Section I)
  - Structure of the Manual (Section II)
  - History of the Manual (Section III)
  - The 2025 revision (Section IV)
  - Revisions between editions of the Manual (Section V)
- Further changes may be made to improve consistency of language with other macroeconomic statistics manuals (e.g., 2025 SNA).

### II. Purposes of the Manual — objectives and references
- In addition to the objectives listed in BPM6, BPM7 will include an objective related to providing principles and guidelines to improve the way external sector statistics are communicated and disseminated.
- References to related manuals and guides will be updated to reflect latest versions and additions:
  - 2025 System of National Accounts (2025 SNA)
  - Monetary and Financial Statistics Manual and Compilation Guide
  - Government Finance Statistics Manual
  - OECD Benchmark Definition of Foreign Direct Investment
  - External Debt Statistics Guide
  - Handbook on Securities Statistics
  - Manual on Statistics of International Trade in Services
- A common glossary of macroeconomic statistics has been developed as part of the update process.

### III. Structure of the Manual — composition and new material
- The structure is adjusted compared to BPM6 to reflect addition of topical chapters and a new chapter on communicating and disseminating economic statistics.
- BPM7 will include:
  - 20 chapters
  - 13 annexes
- Out of the 20 chapters, seven are developed as common chapters with the 2025 SNA.
- Subsections and changes:
  - Introductory Chapters — no significant changes.
  - Chapters for Each Account — will have separate chapters for the goods account and services account.
  - Topical Chapters — new subsection introducing topical chapters on globalization, digitalization, Islamic finance, and informal activities.
  - Analysis — no significant changes.
  - Communication — new subsection introducing the chapter on communicating and disseminating economic statistics.
  - Annexes — title changed from “Appendixes” (BPM6) to “Annexes” to align with SNA language; expanded to reference new or significantly updated annexes on:
    - cross-border trade
    - direct investment
    - selected financial issues
    - insurance and pensions
    - positions and transactions with the IMF
    - sustainable finance
    - data by partner economy
  - Standard Components and Memorandum Items — no significant changes to descriptions of standard components, memorandum items, and supplementary items.

### IV. History of the Manual — expansion and updates
- The history section will be expanded with a paragraph describing the main changes introduced with BPM6.
- References to related manuals and guides will be updated.

### V. The 2025 Revision — process and themes
- The 2025 BPM revision process will be described and will highlight close links to the SNA update process and other statistical domains.
- The update will emphasize the development of a common glossary for macroeconomic statistics.
- Main update themes, in line with the backbone strategy for updating BPM6, include:
  - globalization
  - digitalization
  - drivers from the evolution of financial and payments systems

### VI. Revisions between Editions of the Manual — research agenda and digital updates
- The paragraph on the research agenda will be updated to:
  - drop topics already addressed in this update round
  - include new topics such as crypto assets and reconciliation of direct investment and AMNE statistics as identified in the holistic review of BPM6 update priorities
- Other issues identified during the remainder of the update process and SNA discussions will be included in the research agenda.
- The use of digital versions of the manuals is expected to make it easier to incorporate clarifications and methodological updates between major revisions.

### Schematic Overview
- I Purposes of the Manual
- II Structure of the Manual
  - Introductory Chapters
  - Chapters for Each Account
  - Topical Chapters
  - Analysis
  - Communication
  - Annexes
  - Standard Components and Memorandum Items
- III History of the Manual
- IV The 2025 Revision
- V Revisions between Editions of the Manual

### References and stakeholder engagement
- Paper prepared for the October 2019 Meeting of the IMF Committee on Balance of Payments Statistics: A Backbone Strategy for Updating BPM6 (BOPCOM–19/10).
- Paper on the Outcomes of the Holistic Review Survey of BPM6 Update Priorities (available at IMF).
- Key stakeholders consulted include:
  - System of National Accounts Lead Editor
  - IMF Statistics Department Financial Institutions Division and Government Finance Division
  - OECD WGIIS Secretariat
  - Balance of Payments Task Team
  - Global Consultation of the External Sector Statistics Community

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_Source: https://www.imf.org/-/media/files/data/statistics/bmp7/final-annotated-outlines/bpm7-chapter-1-introduction-annotated-outline.pdf_