Definition: Repairs on goods

Category: Balance of Payments, IMF

Repairs on goods covers repair activity that involves work performed by residents on movable goods owned by non-residents (or vice versa). Examples of such goods are ships, aircraft, and other transportation equipment. In contrast to processing, the value recorded reflects the value of the repairs (the fee paid or received) rather than the gross value of the goods before and after the repairs. Excluded are construction repairs (recorded under construction services), computer repairs (recorded under computer and information services), and maintenance performed in ports and airports on transportation equipment (recorded under other transportation services). http://ec.europa.eu/eurostat/ramon/statmanuals/files/BoP_Manual_Fifth_Edition_EN.pdf