Value of all goods and services received from the rest of the world, including the value of:
merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services;
but excluding
labour and property income, also known as factor services, as well as transfer payments.
A nation's trade balance is given by the difference between imports and exports:
[ Exports - imports = trade balance ]
Total Imports
Include all goods which have entered the country through customs, whether for immediate domestic consumption or for storage. Often, re-imports are included.
Re-imports : The goods re-entering (returned to) the country after having been exported abroad without having been materially altered or substantially enhanced in value while abroad.
Retained imports : Some countries discriminate Retained imports of goods that refer to those imported goods which are retained for use in the country rather than being re-exported to other places.
