The changeover to the 6th Balance of Payments Manual (BPM6) has involved a significant revision of international standards for the compilation of external statistics (flows and stocks). This work continues the reconstruction of back data for the main items of the balance of payments and international investment position, offering BPM6 compliant time series starting from 1970.
The reconstruction of back data did not substantially alter the history of Italy's external statistics. The balances of the current account and of the financial account worsened only minimally, with a marginally negative final effect on errors and omissions. The choice to include undeclared assets held abroad made the trend of the net international investment position substantially consistent with the accumulated current account balance.
