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In a direct communication with the source, they explained
I can confirm that we had a major deadline yesterday [20 September] and revised our data from 2012Q1 onwards.
In an earlier communication, they explained:
BOP compilers of Luxembourg – namely Statec and the BCL – published yesterday revised monthly, quarterly and annual BOP figures from 2012 onwards. In line, with international recommendations, the September production contains revisions for prior periods.
Considering the annual results, the effect of the revisions is rather limited on the current account balance. However, as you pointed correctly, the effects on the intra-annual figures is relatively important.
Your figures concern quarterly total credits of the current account. This aggregate is driven especially by Investment income (as part of the primary income). As new information on inter-annual distribution of income was made available to compilers (more detailed balance sheet information), inter-annual time of recording (credit and debit) was revised, especially in the light of the exact date of cross-border dividend payments. This improvement lead to an increased volatility in quarterly results of gross and net income and hence of the quarterly current account balance.
Furthermore different adjustments (services) were made to increase consistency between BOP and National account figures.
In response, we have synchronized our extract to the source, and our seasonally adjusted counterpart, BPLCABAQ.ILUX. There is no change to the mnemonic or metadata.
See also
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