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Explanatory Notes |
Statistics SourcesThe import and export trade statistics that form the basis of these publications were obtained from the national statistical authorities in each country, which in turn obtain their information from the customs documentation filed by importers and exporters. These national statistics are considered the most complete sources of trade information available. In a few instances, as noted on the Table of Contents pages, because the information is restricted or otherwise unavailable, a country's trade is derived from trading partner statistics. Imports are given by country of origin or consignment, as provided in the trade statistics and indicated for each country. Exports and re-exports show country of destination. For countries in the European Union, imports from countries in the Union are by country of consignment. Imports from countries not in the Union are by origin. All countries list exports by country of destination. Although this is generally where the product goes, occasionally there are discrepancies between what a country reports as its exports to another country and what the importing country reports as its actual imports. This occurs when the final destination is changed while the product is already in transit, or, when the product arrives at the listed destination, often a major shipping point, but then continues on to another final destination. Reported figures can be verified by comparing the exporting country's figures with those of the importing country when both are available. Import figures are generally considered more accurate as imports are monitored more closely than exports.QuantitiesAll quantities are converted from the units given in each country's trade statistics to metric tons (equivalent to 2205 pounds).PricesPrices are obtained from each country's trade statistics by converting the values given in the currency of the country to U.S. dollars, using the monthly foreign exchange rates published by the U.S. Federal Reserve Board.Exchange RatesIt should be noted that converting from the currency of a country into U.S. dollars incorporates an exchange rate element into the price per ton. The degree to which this affects the actual price trend for a country's imports and exports is a function of the exchange rate and varies substantially by country. In general, all other factors remaining the same, a weakening U.S. dollar (which aids U.S. exports) results in an apparent rise in the price of another country's exports when that country's currency is converted to U.S. dollars. A stronger dollar results in an apparent fall in prices.Price ConventionsPrices are quoted CIF or FOB, according to the conventions of each country. Exports are generally valued FOB, which includes transportation costs, insurance, etc. incurred in transporting the goods to the carrier at the border of the exporting country. The U.S. uses FAS value, which is similar, and includes all charges incurred in placing the goods alongside the carrier at the U.S. port of export. Imports into most countries are based on CIF, that is, inclusive of all costs of transportation, insurance, etc. relating to transport from the place of shipment to the border. The U.S. is again an exception and uses customs value, which is defined by U.S. Customs as the price paid, excluding duties, freight, insurance and other charges. It is generally equivalent to FOB value at the foreign port of export. |