The concepts and methodological standards for compiling external sector statistics are set out in numerous international manuals. The main reference work for the balance of payments and international investment position is the International Monetary Fund’s (IMF) Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). In March 2020, the IMF began updating the Balance of Payments and International Investment Position Manual to the seventh version (BPM7). The coordination process has ended and the IMF is planning a final version for the fourth quarter of 2025. Parallel to this, the United Nations has revised the System of National Accounts (SNA 2008). There are close conceptual links between the two manuals.

Over the last years, various working groups have drawn up guidance notes containing proposed changes for the manuals covering a broad range of topics. The IMF publishes all guidance notes, which were accepted by the Balance of Payments Committee. The white cover (pre-edited) version of the BPM7 has now been drawn up on the basis of these guidance notes and has been published by the IMF. Within the EU it is planned for its Member States to apply the new standards in the balance of payments in 2029. The legislative procedures for this are already underway.