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Term
Imports and imports value, goods (merchandise)
Description Goods which add to or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory. Goods simply being transported through a country (goos in transit) or temporarily admitted or withdrawn (except for goods for inward or outward processing) do not add to or subtract from the stock of material resources of a country and are not included in the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. In many cases, a country's economic territory largely coincides with its customs territory, which is the territory in which the customs law of a country applies in full. Countries can choose f.o.b.-type or c.i.f.-type values. FOB-type values include the transaction value of the goods and the value of services performed to deliver goods to the border of the exporting country. CIF-type values include the transaction value of the goods, the value of services performed to deliver goods to the border of the exporting country and the value of the services performed to deliver the goods from the border of the exporting country to the border of the importing country. It is recommended that: (a) The statistical value of imported goods be c.i.f.-type value; (b) The statistical value of exported goods be an FOB-type value. (34, paras. 14 and 115-116).
Source United Nations (1998c). International Merchandise Trade Statistics -- Concepts and Definitions. Statistics Division, Series F, No. 52, Rev. 2 (United Nations publication, Sales No. E.98.XVII.16).
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