Definition: Value of traded goods

External trade

The statistical value of imported goods is equal to their dutiable value, or for example in the case of imports (CIF) from the other Member States, to an analogously determined value.

The statistical value of exported goods is equal to their FOB value at the place and time of leaving the statistical territory of the exporting Member State.

The statistical value is the value calculated at national frontiers. It can be FOB value (free on board), for exports/dispatches, or CIF (cost, insurance, freight), for imports/arrivals: it therefore includes only incidental expenses (freight, insurance) incurred in the part of the journey located on the territory of the Member State from which the goods are exported (in the case of exports/dispatches) and in the part of the journey located outside of the territory of the Member State which imports the goods (in the case of imports/arrivals).

The statistical value is generally based on the customs value (which does not include, inter alia, import duties or other Community taxes on the import or sale of goods) in the case of extra-EU trade, or on taxable value, in the case of intra-EU trade.

In the case of processing it is always the total value of the goods which is entered, before and after processing, not only the value added.
Source:
External trade and balance of payments, Glossarium 1993, Eurostat, p. 34 and Eurostat, "Statistics on the trading of goods - User guide", Office for Official Publications of the European Communities, Luxembourg, 1998, p.16
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