Net errors and omissions

Net errors and omissions

In balance of payments accounting, net errors and omissions record the statistical discrepancies that arise in gathering balance of payments data.

Net Errors and Omissions

When accounting a country's balance of payments, the calculation of statistical inaccuracies that were made in the collection of data.
References in periodicals archive ?
They are shown in five major data categories (current, capital, and financial account balances, net errors and omissions, and reserves and related items); by goods and services, primary income, and secondary income under the current account, as well as under the main standard components in the capital account; and by international investment position data illustrating a countryAEs external financial assets and liabilities.
The gap between changes in a country's current account and its net-foreign-asset position partly reflects "net errors and omissions" in the BOP calculations.
Mysterious money inflows, the source of which is unknown, are referred to as "net errors and omissions" by the central bank.
Between January and May, net errors and omissions remained the biggest source of financing that helped shrink the current account gap.
Also, the net errors and omissions item, which shows exchange flow whose source is undetermined, reached $4.8 billion.CaAlayan stated that as July's current account deficit reached 5.8 billion, the total deficit rose to $42.1 billion in the first seven months of this year, adding that that economy posted $34.1 billion in the same period last year.
Net errors and omissions were $2.39 billion in the first two months.
Net errors and omissions 1 271 342 -1 586 1 157 2 014
The statistical discrepancy recorded for the international transactions account is the net errors and omissions in all the components.
ySTANBUL (CyHAN)- Between $14-16 billion of unexplained money -- classified as "net errors and omissions" -- entered Turkey last year, according to Customs and Trade Minister Nurettin Canikli, who spoke to the HE-rriyet daily on Wednesday.
However, the opposition Republican People's Party (CHP) was skeptical in its appraisal of Turkey's net errors and omissions figures, noting that in a report released in March 2014, $2.4 billion in unexplained money entered the country -- a national record.
On the other hand, non-residents' deposits declined by USD 0.2bn and net errors and omissions registered USD 1.8bn in outflows.
The Central Bank of Turkey on Thursday also released details regarding "net errors and omissions" in data for the country's balance of payments for the first eight months of this year.