Definition: External trade in goods
Exports and imports of goods with countries outside the euro area, measured in terms of value and as volume and unit value indices. External trade statistics are not comparable with the exports and imports recorded in the national accounts as the latter include both intra-euro area and extra-euro area transactions, and also combine goods and services. Nor are they fully comparable, with the goods item in b.o.p. statistics. Besides methodological adjustments, the main difference is to be found in the fact that imports in external trade statistics are recorded including insurance and freight services, whereas they are recorded free on board in the goods item in the b.o.p. (Balance of payments) statistics.
European Central Bank on-line glossary (2009)