Definition: Exports and imports of goods and services

Category: Quarterly national accounts

Exports and imports of goods and services consist of transactions in goods and services (sales, barter, gifts and grants) between resident and non-residents (see ESA 1995, § 3,128-129; SNA 1993, § 14.88). Imports and exports of goods are to be valued " free on board" (f.o.b.) at the border of the exporting country. This value consists of:
 a) the value of the goods at basic prices;
 b) the related transport and distribution services up to that point of the border, including the cost  of loading on to a carrier for onward transportation;
 c) any taxes less subsidies on the goods exported; for intra-EU deliveries this includes VAT and other taxes on the goods paid in the exporting country.