The yellow and orange areas depict the difference between b.o.p. and trade statistics in financial centres and other euro area economies, respectively. The group of financial centres includes Belgium, Cyprus, Ireland, Luxembourg, Malta, Netherlands. Four-quarter moving sums. The latest observation is for the second quarter of 2019.
This episode illustrates how b.o.p data and, by extension, also national accounts statistics can be affected by exports of goods that are not produced domestically and also do not cross the border of the domestic economy.