IAS Preparation - Current Affairs: WTO - Nairobi Conference: an analysis
North America Canada, United States of America, and territories in North America n e s.
Latin America Antigua and Barbuda, Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica , Mexico, the Netherlands Antilles, Nicaragua, Panama, Paraguay, Peru, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Uruguay, Venezuela and other countries and territories in Latin America s.
Western Europe Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom, Bosnia and Herzegovina, Croatia, former Yugoslav Republic of Macedonia, Slovenia, Yugoslavia, the five countries mentioned comprise the former Yugoslavia and territories in Western Europe s.
Central and Eastern Europe, the Baltic States and the Commonwealth of Independent States countries in transition, including Central and Eastern Europe Albania, Bulgaria, Czech Republic, Hungary, Poland, Romania and the Slovak Republic; the Baltic states Estonia, Latvia and Lithuania; and the Commonwealth of Independent States CIS Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan Repubic, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan The FSU group refers to States Baltic and CIS.
Africa, including North Africa Algeria, Egypt, Libya, Morocco and Tunisia; and sub-Saharan Africa West Africa including Benin, Burkina Faso, Cape Verde, C te d Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mauritania , Niger, Nigeria, Senegal, Sierra Leone and Togo; Central Africa Burundi, Cameroon, Central African Republic, Chad, Congo, Democratic Republic of Congo, Equatorial Guinea, Gabon, Rwanda and São Tomé and Príncipe; East Africa Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Madagascar, Mauritius, Seychelles, Somalia, Sudan, United Republic of Tanzania and Uganda; and South Africa, Angola, Botswana, Lesotho, Malawi, Mozambique, Namibia, South Africa, Swaziland, Zambia, Zimbabwe and territories in Africa n e s.
The Middle East Bahrain, Cyprus, Iraq, the Islamic Republic of Iran, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, UAE, Yemen and other countries and Middle East territories s.
Asia, including West Asia Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka; and East Asia, including Oceania Australia; Brunei Darussalam; Cambodia; China; Fiji; Hong Kong Special Administrative Region of China Hong Kong, China; Indonesia; Japan; Kiribati; Lao People's Democratic Republic; Macao, China; Malaysia; Mongolia; Myanmar; New Zealand; Papua New Guinea; Philippines; Republic of Korea; Samoa; Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu Chinese Taipei; Singapore; The Solomon Islands; Thailand; Tonga; Tuvalu; Vanuatu; Vietnam and other countries and territories in Asia Pacific s n e.
ANDES Bolivia, Colombia, Ecuador, Peru and Venezuela.
APEC Australia; Brunei Darussalam; Canada; Chile; China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; Philippines; Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America and Viet Nam.
ASEAN Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
CEFTA Czech Republic, Hungary, Poland, Romania, Slovenia and the Slovak Republic.
EUROPEAN UNION Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden and the UK.
MERCOSUR Argentina, Brazil, Paraguay and Uruguay.
NAFTA Canada, Mexico and the United States of America.
ACPAS Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
Least developed countries Afghanistan, Angola, Bangladesh, Benin, Bhutan, Burkina Faso, Burundi, Cambodia, Cape Verde, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Djibouti, Equatorial Guinea, Eritrea, Ethiopia , Gambia, Guinea, Guinea-Bissau, Haiti, Kiribati, Lao People's Democratic Republic, Lesotho, Liberia, Madagascar, Malawi, Maldives, Mali, Mauritania, Mozambique, Myanmar, Nepal, Niger, Rwanda, Samoa, Sao Tome and Principe, Senegal, Sierra Leone, Solomon Islands, Somalia, Sudan, Togo, Tuvalu, Uganda, United Republic of Tanzania, Vanuatu, Yemen and Zambia.
Six East Asian traders in Hong Kong, China; Malaysia; Republic of Korea; Singapore; Chinese Taipei and Thailand.
The designations used in this report does not constitute an opinion by the Secretariat concerning expression of the status of a country, territory or area, or concerning the delimitation of its frontiers.
Changes in political boundaries since 1991 involving the Czech and Slovak Federal Republic, the former Yugoslavia and the former Soviet Union are reflected in this report, since the available statistics allow This means that, from 1992, the data from these former entities are no longer the light of this information is replaced with data for their successor States in the case of successor States to the Czech and Slovak Federal Republic and the former Yugoslavia, statistics include their mutual trade in the case of the successor States of the former Soviet Union, the lack of statistics on trade in goods detailed for most of them rejected the inclusion of their mutual trade at the disaggregated product and, for reasons of comparability, at the aggregate level, however, the recent improvement in the collection of data that mutual trade between the successor states of the former USSR has been systematically included in the tables, based on data for 1996 EFFEC ts on the continuity of the data series are explained in Section III 2 below.
Two systems for recording exports and imports of goods are commonly used, they are called general trade and the s pecial trade and differ mainly in the way warehoused and re-exported goods are treated the General trade figures are larger than the corresponding figures special trade because it does not include certain trade flows, such as goods shipped through bonded warehouses.
Unless otherwise stated, the merchandise trade is defined in this report according to the general definition of trade it covers all types of movement inwards and outwards goods across a country or territory, including movements in customs warehouses and free zones for further explanation, see United Nations international trade Statistics, concepts and definitions, Series M, N 52, revision 2.
Unless otherwise indicated, exports are valued at transaction value, including transport and insurance costs to bring the goods to the frontier of the exporting country or territory assessment FOB Imports are valued at transaction value, more transport and insurance costs to the border of the importing country or territory cif valuation.
All product groups are defined according to Revision 3 of the Standard International Trade Classification SITC.
- foodstuffs and live animals; beverages and tobacco; animal and vegetable oils, fats and waxes; oil seeds and oleaginous fruits sections IMPC 0, 1, 4 and 22 division.
- Raw materials, skins and furs, raw; raw rubber comprising synthetic and regenerated; cork and wood; pulp and paper waste; textile fibers and waste thereof; crude animal and vegetable matter, n e divisions IMPC 21, 23, 24, 25, 26, 29.
- Ores and other minerals crude fertilizers other than those classified in chemicals and crude minerals; metalliferous ores and metal scrap SITC divisions 27, 28.
B manufactures IMPC sections 5, 6, 7, 8 less division 68 and the group 891.
Ii Chemicals organic chemicals SITC division 51; Plastic SITC divisions 57, 58; inorganic chemicals division SITC 52; pharmaceuticals division SITC 54; other chemicals IMPC divisions 53, 55, 56, 59.
Iii Other semi-finished leather, leather goods, n e s and primed; rubber mill, n e s; cork and wood except furniture; paper, cardboard and articles made of paper pulp, paper or cardboard; manufactures non-metallic minerals, n e s; manufactures metals, n e divisions IMPC 61, 62, 63, 64, 66, 69.
Iv machinery and transportation equipment of power generating machines; other non-electric machines; office machines and telecommunications equipment; electrical machinery and apparatus; automotive products; another section transportation equipment IMPC 7.
- energy production machinery of energy production machinery and equipment least one internal combustion piston engines, and parts thereof, e n SITC division 71 minus group 713.
- Other machines specialized non-electrical machinery for particular industries; metalworking machines; industrial machines and equipment in general, n e s and machine parts, n e divisions IMPC 72, 73, 74.
- Office desktop machines machines and telecommunications equipment and information processing machines; telecommunications and sound recording and reproducing apparatus and equipment; thermionic Valves cold cathode or cathode and photo tubes IMPC divisions 75, 76 and 776 groups.
- machinery and electrical machinery apparatus, appliances, and n e s and electrical parts thereof; less thermionic, cold cathode or photo-cathode valves and tubes; less electrical equipment, n e s for internal combustion engines and vehicles, and parts thereof SITC division 77 group less 776 and 7783 subgroup.
- auto automotive products and other motor vehicles principally designed for the transport of persons other than the type of transport service vehicles, including station wagons and racing cars; motor vehicles for the transport of goods and automotive vehicles for special uses; road motor vehicles, n e s; parts and accessories of motor vehicles and tractors; Internal combustion piston engine for above mentioned vehicles; electrical, n e s for internal combustion engines and vehicles, and their parts IMPC groups 781, 782, 783, 784, 7132 and subgroups, 7783.
- Other transport equipment other transportation equipment transport vehicles, aircraft, spacecraft, ships and boats, as well as parts and associated equipment; motorcycles and motorized and non-motorized cycles; trailers and semi-trailers, other non-motor vehicles, and specially designed and equipped transport containers; Internal combustion piston engines for airplanes, and parts thereof, e n s; internal combustion piston engines, marine propulsion; internal combustion piston engines, n e s; parts, n e s for internal combustion engines listed above pistons SITC division 79, groups 785, 786, 7131 and subgroups, 7133, 7138, 7139.
Vii Other household items of consumer goods, travel goods, shoes, instruments and apparatus, photography, optical goods, watches and clocks, and other manufactured articles, nes SITC divisions 81, 82, 83, 85, 87, 88 89 excluding 891 groups, arms and ammunition including SITC furniture, division 82, travel goods SITC division 83, 85 SITC division shoes, and toys and games SITC group 894.
C. Other income and commodities transactions not classified elsewhere, including gold; weapons and ammunition SITC section 9 and group 891.
Trade circulating in the treatment areas are not systematically recorded in national trade statistics and can result in under-reporting of trade in certain goods, for example, the exclusion of these flows from the statistics of the Central American countries and Caribbean resulted in an underreporting of their clothing When trade is included, the goods classification practices also differ between countries in recent years, however, the improvement of data collection have resulted in the inclusion of processing trade for a number of countries, including Costa Rica, the Czech Republic, Hungary, Lithuania, Mexico, Morocco and Ukraine in total, but one of these countries, resulting in breaks in the continuity of the series of data in the case of Mexico, trade flows through special manufacturing area c onnue as maquiladoras name have already been excluded from official trade statistics, but reported separately by the Banco de M xico the Secretariat included these flows in Mexi co exports and account imports given their magnitude ranging between 29 to 40 percent of the combined trade during the period 1990-2000 These deliveries were included in the official trade statistics of Mexico since 1992.
The network of world merchandise trade by region and product from which tables A2 A3 and A9 A10 are derived is based on export data network is constructed as follows.
First, the total merchandise exports of each of the seven regions are aggregated from the figures published by the country by the International Monetary Fund's International Financial Statistics of other international organizations and national statistical authorities, they are supplemented by Secretariat estimates see Appendix table A5.
Then the total merchandise exports of each region are distributed by destination and by product The regional distribution and raw materials is based on the OECD, Monthly Statistics of Foreign Trade; UNSD, Comtrade database directory International Trade Statistics, and Monthly Bulletin of Statistics; national statistics and Secretariat estimates.
During this process, the main adjustments to the figures are as follows.
I Exports of ships to the open registry countries Panama and Liberia are reallocated from exports of each region to Latin America and Africa to unspecified destinations a category not represented separately.
Ii Hong Kong re-exports, China is excluded because the Hong Kong extent, China 9 8 then for re cent of total exports of Asian goods in 2000 would introduce an important element of double counting in the trade of the region Asia since much of Hong Kong, China's re-exports of goods from China or have China as final destination.
Iii Chinese exports are adjusted to approximate their final destination.
Iv exports of military goods and non-monetary gold, where known, are included when they can not be broken down by destination, they are assigned to unspecified destinations.
5 Trade in goods merchants selected by the main products, the region and the large tables in Appendix A11 A21 trading partner.
These tables come from the Comtrade database UNSD All tabular figures for total merchandise trade are not necessarily the same as those in Appendix Tables A5 and A6 see Section III 1 below for trade by product , world totals include shipments that are not distinguished by origin or destination for trade by region and partner, world totals include goods that are not specified by product the following adjustments were made to the figures.
I Exports of ships to the open registry countries Panama and Liberia are reallocated from each economy exports to Latin America and Africa to unspecified destinations a category not represented separately.
Ii merchandise trade European Union Appendix tables A14 to A18.
- part of Belgian imports included in other products are reallocated to automotive products.
- French trade of military goods is included, it is used for other products and unspecified origins and destinations.
- Supplementary official expenses of intra-EU exports and intra-EU imports in 1993 which have not been forwarded to the Statistics Division by statistical authorities of EU Member States are included for the United Kingdom, supplementary estimates were distributed by product using national statistics for other countries, where appropriate, the figures were attributed to other products.
- for the handset Commerce A14 table Member States of the EU Annex, intra-imports have been replaced by intra-exports from 1993 to partially offset the observed under-reporting of intra-imports resulting procedures Intrastat see section III below.
Selection of major trading partners of each journalist is based on a ranking of total trade exports and imports of each reporter with their trading partners in 2000, EU Member States are counted as one trading partner.
6 Merchandise trade in balance of payments statistics.
The statistics of trade in goods and other basic statistical systems such as industrial and transport statistics are the basis of the system of national accounts SNA and BOP BOP statistics on trade in goods are essential for the compilation of goods account of the balance of payments and structured defined in the fifth edition of the Manual of the International monetary Fund balance of payments BPM5.
Merchandise goods are defined in the SNA as physical objects for which a demand exists, over which ownership rights can be established and whose ownership can be transferred from one institutional unit to another by performing markets transactions thus, for the SNA statistics and balance of payments recording transactions should be based on the principle of change of ownership.
However, the compilation of international merchandise trade statistics SES is usually based on customs documents, which essentially reflect the physical movement of goods across borders, and international guidelines on concepts and definitions that do not comply fully the principles of the SNA and BPM5.
A number of adjustments have to be made to international trade statistics of goods before they match the specific requirements of national accounts and balance of payments for all exports and imports, these adjustments relate primarily to cover the trading system and evaluation.
Regarding coverage, STIs in most cases is consistent with BPM5 differences remain in the following cases i transactions that represent services transactions, such as maps, videos and tapes should be evaluated STI the value of the material in which they are incorporated, while under BPM5 these operations should be excluded from goods and included, at market value, in services; ii transactions in which one or both national boundaries are not crossed g e trade in ships and aircraft, exports of bunkers, etc. are not always included in ITS for practical reasons, as they are generally included in the statistics of the balance of payments; iii goods under the improvement and repair trade regime should be excluded from the TSI, but they must be included in the value of the repair under the BPM5.
Regarding the system of trade, SCI guidelines outline the measurement of trade flows on the basis of one special trade system and 2 general commercial system Under the special trade system, the customs border is considered the statistical limit whereas, under the general trade system, the state border is considered the statistical limits BPM5 stresses that measurement for compiling the balance of payments should be based on the change of ownership rather than the general trade system or the system special trade general commercial system seems to be a better proxy for measuring the change of ownership, since it offers broader coverage and the date of change of ownership may be closer to the date of goods cross the national border that the goods date customs clearance.
Regarding valuation, the issue that affects most data comparability concerns the point of valuation, whether goods are valued at the importer's border - that is at the cif value - or FOB value at the frontier of the exporting ITS guidelines recommend the adoption of the cif valuation for imports whereas BPM5 requires the fob valuation additional adjustments can be made by the compilers of balance of payments to comply the BPM5 requirement for market prices to assess trade, processing trade, and in respect of foreign currency.
Once adjusted, the trade of goods are recorded in the category of current account goods and services, income and current Therefore transfers in the balance of goods and services payment framework operations are harmonized and comparable statistical series, as in Table I 8 He does not speak quite correct to aggregate the figures for commercial services and merchandise shown elsewhere in this report.
Note that some countries continue to apply the concepts of the fourth edition of the Balance of Payments Manual, and therefore do not include goods for processing and goods purchased in port vehicles in the goods account.
Export credits and debits imports of commercial services are derived from statistics on international service transactions in the balance of payments, according to the concepts, definitions and classification of the fourth or fifth edition 1977 1993 Balance of Payments Manual of the IMF.
In the fifth edition of the Balance of Payments Manual, the current account is subdivided into goods, services s, including government services, nie, investment income on income and compensation of employees, and current transfers The category of services business in this report is defined as being equal to services minus government services, nie commercial services is further subdivided into transport, travel and other business services.
Transport covers all sea transport services, air and other - including land, inland waterway, space and pipeline that are performed by residents of one economy for those of another and that involve the carriage of passengers, freight transportation goods, lease of transport charters with crew, and support services and related auxiliaries.
Travel includes goods and services acquired by personal travelers, for health, education or other purposes, and business travelers Unlike other services, travel is not a type of service, but an assortment of goods and services consumed by travelers the most common goods and services covered are housing, food and beverages, entertainment and transportation in the country visited, gifts and souvenirs.
Other commercial services corresponds to the following components defined in BPM5.
I communication services telecommunications, postal and courier services.
V computer and information services, including the services of the new agency.
Vi royalties and license fees, covering payments and receipts for the use of intangible non-financial assets and property rights, such as patents, copyrights, trademarks, industrial processes, and franchises.
Vii other business services including trade-related services, the rental of operating leases and miscellaneous business, professional and technical services such as legal, accounting, management consulting, public relations services, advertising, studies market and public opinion surveys, research and development, architectural, engineering and other technical services, agricultural, mining and on-site processing; and.
Viii personal, cultural and leisure facilities, including audiovisual services.
Although in recent years the coverage and comparability of services trade data have improved, recorded figures still lack comparability across countries and are subject to significant distortions.
First some countries do not collect statistics for certain classes of second-certain service transactions services are simply not registered If the records of the central bank are used, situations where no financial intermediaries work are not counted in for investigations, coverage of commercial establishments is often incomplete a particularly serious problem is that services transmitted electronically are recorded, especially when transactions take place in the third statistical multinationals can be presented on a net rather than a gross basis, often as a result of netting agreements, such as rail transport or communication services fourth sources used for countries that are not members of the IMF do not necessarily comply with the IMF concepts and Fifth error definitions clas fication of transactions may lead to an underestimation of commercial services when service transactions are registered as income, transfers or exchanges in chandises sea rather than trade in services or, conversely, to an overestimation of commercial services when transactions pertaining to income, transfers or official transactions are recorded in the categories of private services.
These distortions may be particularly significant at the detailed level, i e to a detailed service category, or for trade flows by origin and destination.
The implementation of BPM5 will result in improved comparability of countries over time, however, as these improvements are made gradually, they also result in a number of series breaks the boundary between goods and services, and the boundaries between the components of commercial services differ BPM4 and BPM5 examples of these differences.
I most processing transactions are recognized as revenue on a gross basis in BPM5, while in BPM4 the value of processing costs are included in the services.
Ii goods procured in ports, such as fuels and provisions, are included in goods in BPM5 and transportation services in BPM4.
Iii in BPM4, insurance services are normally measured by the net premiums defined as premiums less claims, while in BPM5, insurance services reflect the normal service charge, i e administrative services and part benefits; the remainder of net premiums or the actual risk premiums is recorded in current transfers or in the financial account in case of life insurance; In addition, freight insurance is part of transportation BPM4, and part of insurance services in BPM5; and.
Iv expenditure by seasonal and border workers is included in labor income in BPM4, and travel in BPM5.
Throughout this report, changes in average annual percentage rates are similar to the compound of interest in the calculation of average annual growth rate between 1990 and 2000, for example, data for calendar year 1990 were taken as starting point, and data for calendar year 2000 as the end point.
the movements of commodity prices primarily described by indices largely based on spot market prices, and thus exclude transactions governed by long-term contracts The price indices for these food products, beverages, commodities agricultural, minerals, non-ferrous metals, fertilizers and crude oil are obtained from the IMF international financial Statistics aggregates for all commodities and primary non-fuel products are calculated using IMF weight .
3 volume of trade in goods and unit value indexes.
The indices of volume and unit value come from a range of different national and international sources The volumes and unit value indexes are not always available for the most recent years or may differ in product coverage from indices corresponding value for example, the indices reported by France exclude electricity, military and railway equipment, electronics, analysis and control, shipbuilding and aerospace, and machine tools Switzerland excludes jewelery , antiques, and precious metals from its indices.
Aggregation of the indices to obtain a world total is a two-stage process first export and import unit values are adjusted to the extent possible differences in coverage and in case of missing data, completed with Secretariat estimates They are then aggregated to obtain regional all results the volume index is obtained for each region by dividing the index of respective exchange value for each region by the index of the corresponding regional unit value.
Second for the index of world total volume of goods, the regional unit value indices are aggregated and the value of world trade is deflated by the index of unit value of the world through the commercial values of the aggregation process the previous year are used as weights.
Production of agriculture, mining and manufacturing is defined according to major Divisions 1, 2 and 3 World production ISIC International Classification in these sectors is estimated by combining production indices published by the FAO, IMF , OECD, UNIDO and UNSD world index is obtained by aggregating the three sectors using value added shares in 1990 as weight.
Global GDP growth is estimated at a weighted average of economies real growth of GDP weights used are shares of economies in 1990 world nominal GDP in US dollars at market exchange rates.
The use of official exchange rates which are not market-based for some major economies, as well as fluctuations in the dollar of the United States vis - vis major currencies can have a significant impact on the weighting model The increasing use of weights based on purchasing power parities PPP by other international organizations aimed at alleviating the abnormalities associated with these factors in a period of widely divergent growth rates between countries and regions, the choice of weighting scheme can have a marked influence on the estimate of global growth for the period 1990-2000, global growth estimates based on PPP weights indicate a significantly faster growth than estimates using weights based on GDP data to This exchange rate market is due to the differences in the two weighting schemes related to weight on the by GDP the exchange rates of the market, PPP weights are low for the transition economies - particularly the successor States of the former Soviet Union with a record of low growth, a high nd for large developing countries, especially China with above-average growth.
In the general trade system in this report, re-exports are included in total merchandise trade see Section II 1 However, in the case of Hong Kong, China, the scale of its re-exports amounting in 2000 to 179,000,000,000, if included in regional or world aggregates, could affect the analytical value of the statistics by introducing a significant element of double counting, therefore, Hong Kong, China re-exports are excluded from the world and from Asia aggregates unless otherwise opposite; Hong Kong, domestic exports of China and the retained imports are included in the totals for this reason, the figures for world exports and for exports of Asia shown in Appendix Tables A2 and A3 A9 A10 are smaller than those of Annex A5 table deductions imports can not be identified from imports directly, an approximation is obtained by subtracting the value of re-exports of the value of imports obtained the figure will, however, underestimate the value of retained imports by the amount the margin of re-exportation.
1 The statistics of trade in goods in the European Union.
The introduction of a new statistical collection system on trade between EU Member States in January 1993 - DEB - which was briefly described in the annual report of the GATT 1994, International Trade Trends and statistics, statistics has affected EU merchandise trade in a number of ways in which the system has resulted in the loss of continuity with trade figures before 1993 difficulties in the implementation of the new system led to delays reports and numerous revisions of the figures more generally, the EU intra-trade statistics collected by Intrastat are far less accurate than statistics collected under the previous system.
The cover of the current system, which relies on reports submitted by firms for transactions above a minimum value, is not as wide as the previous one, which was based on customs declarations estimates for non-response and Exemptions declaration are made by the statistical authorities in some Member States, but these estimates can not always be broken down by product, and they most likely under-record the actual trade flows, so that the continuity with the figures of before 1993 was lost in some cases as well, estimates of under -reporting were not included in communications to the United Nations Statistics Division for inclusion in the Comtrade database, which also contributed to a marked disruption in the continuity of the source of traditional data Secretariat.
Before the adoption of the current system, reported intra-EU imports cif closely to that of intra-EU exports FOB in 1993, however, the declared value of intra-EU imports has averaged about 6 5 percent below the value of the intra-EU exports, indicating an under-reporting of intra-EU imports given the importance of this inconsistency, the Secretariat has used intra-EU export data to account for underreporting intra-EU imports However, this adjustment could not be divided between the member countries of the EU as a result, the total imports reported by different EU member does not contribute to the figure of EU imports see the whole, for example, Appendix Table A6 This adjustment is reflected in the volume estimates for the EU as a whole.
Due to reporting delays at UNSD, the latest statistics of trade in goods for all EU Member States are not available at the time the world trade network by region and product was prepared Accordingly, the Secretariat had estimate in part the allocation of 2000 EU product.
The EU accounts for some 35 percent of world merchandise trade is also the main market for exports from Africa, the Middle East and the CIS - all regions for which detailed trade statistics are rare trade statistics EU for both EU member countries and for trade with these partner countries therefore play an key global statistics on commercially and are of particular importance in building the world trade network delays of the region and reports on products and decreased reliability of EU intra-trade statistics have resulted an increase of the margin of error in the estimates of trade Secretariat.
Due to a change in the definition of the statistical territory, trade statistics of goods from France include trade of French Guiana, Guadeloupe, Martinique and Réunion in 1996.
2 Merchandise trade of Central and Eastern Europe, the Baltics and the CIS.
Since 1990, trade data for Bulgaria and the former USSR were converted into dollars at official exchange rates, market-oriented, replacing the earlier practice of using implicit conversion factors This created breaks in the continuity of the corresponding time series between 1989 and 1990, evaluation issues are discussed in more detail in box 1 in Volume I of International trade 1990-91 and in box 2 in Volume I of International trade from 1989 to 1990.
Figures for the Czech Republic and the Slovak Republic include trade between the two countries Regarding the Baltics and the CIS, trade figures cover their mutual trade in 1996 trade in goods in total between them amounted to some 36 billion in 1998, 29 billion in 1999 and 38 billion in 2000 including mutual trade has therefore given rise to significant breaks in the continuity of trade series at national and regional level from 1995 1996.
The political and economic changes in the region have caused disruption in statistical reporting systems While some countries have improved or adapted their systems, detailed trade statistics are not yet available for many periods of countries, with the exception of Russia as a result, the Secretariat considered their trade largely on the basis of statistics of their trading partners.
The implementation of concepts and definitions agreed at international level for the collection of statistics on trade in goods will lead to improved comparability of countries over time, however, as these improvements are made gradually, they translate also by a number of breaks in the series breaks in the continuity of trade figures were identified for the following countries for the Czech Republic between 1992 and 1993 due to the inclusion of shipping in the areas of treatment, and between 1998 and 1999 due to the exclusion of aircraft movements and ships through inward processing zones, as well as excluding temporary exports and imports; for Hungary between 1995 and 1996 due to the inclusion of shipping in the area; for Estonia between 1998 and 1999 due to the general change to the special regime of trade; for Lithuania between 1994 and 1995 because of the change of the special to the general trade regime; for Ukraine between 1994 and 1995 due to a change in data collection procedures and the inclusion of shipping in the area; for the Slovak Republic between 1996 and 1997 and for Poland between 1997 and 1998 due to the introduction of new arrangements in customs procedures to harmonize the standards of the European Union.
Much uncertainty remains as to the accuracy of the external trade statistics of the Russian Federation, particularly with regard to imports Much of the reported data on imports consists of official estimates of the flow of goods entering the country without being registered by the customs authorities Such adjustments to import data accounted for 27, 26 and 25 percent of total declared officially in 1998, 1999 and 2000 respectively; the export side, these adjustments were approximately 5, 4 and 2 percent respectively.
Eurostat, external and intra-European Union trade FAO FAO Production Yearbook, trade directory IMF, balance of payments IMF, International Financial Statistics of the IMF, World Economic Outlook OECD Main Economic Indicators OECD, national accounts of OECD, monthly statistics of foreign trade OECD IEA, energy UNECE taxes Price, economic survey of Europe UNIDO national database accounts statistics UNSD Comtrade database UNSD, statistical Yearbook of International trade UNSD, monthly Bulletin of statistics world Bank, world development Indicators of the world Bank, the tables of the world.
These sources are supplemented by national publications and Secretariat estimates.
The statistics of trade in goods in this report are largely from two sources Figures for total merchandise trade are derived from IMF, International Financial Statistics data on merchandise trade by origin, destination and products come mainly from Comtrade database UNSD Some inconsistencies in the aggregate export and data for the same country or territory between the two sources are unavoidable These can be attributed to the use of different trading systems registration, the way the IMF and UNSD have converted data expressed in national currencies into dollars, and revisions which can be more easily integrated into the IMF data.
Statistics on trade in commercial services are mainly derived from balance of payments statistics IMF for countries that are outside the IMF e g Hong Kong, China; Macao, China; and Taipei, China's data are from national sources for missing data estimates are mainly based on national statistics statistics on trade in commercial services by origin and destination tables III 6 and 7 III are also derived from national statistics.
Acknowledgments are due to the Food and Agriculture Organization, the International Monetary Fund, the Organization for Economic Co-operation and Development, the Statistical Office of the European Communities, the United Nations Economic Commission for Europe, the Statistics Division United Nations industrial development organization United Nations and the World Bank which helps provide advance copies of their publications, and other information has greatly facilitated the work of the Secretariat is also grateful to the national institutions to provide statistics in advance.
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