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Glossary of terms
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Trade
Trade
 
Trade balance
  • The trade balance is the difference between exports and imports of goods and services:

    [ Exports - Imports = trade balance ]

 
Merchandise trade
  • Goods which add or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory. Goods in transit simply being transported through a country or temporarily admitted or withdrawn (except for goods for inward or outward processing) do not add to or subtract from the stock of material resources of a country and are not included in the international merchandise trade statistics.
 
Trade systems
  • Two trade systems by which international merchandise trade statistics are commonly compiled:
    • General trade system: the statistical territory of a country coincides with its economic territory.
    • Special trade systems: the statistical territory comprises only a particular part of the economic territory, for example where there are free circulation areas or "free zones".
 
 
[Definitions from System of National Accounts, United Nations, http://esa.un.org/unsd/sna1993/]