"Imports" consist of transactions in goods and services (sales, barter, gifts or grants) from non-residents residents to residents. The exact definition of imports in national accounts includes and excludes specific "borderline" cases. A general delimitation of imports in national accounts is given below:
·
An import of a good occurs when there is a change of ownership from a
non-resident to a resident; this does not necessarily imply that the good in
question physically crosses the frontier. However, in specific cases national
accounts impute changes of ownership even though in legal terms no change of
ownership takes place (e.g. cross border
financial leasing, cross border deliveries between
affiliates of the same enterprise, goods
crossing the border for significant processing to order or repair). Also
smuggled goods must be included in the import measurement.
·
Imports of services consist of all services rendered by non-residents to
residents. In national accounts any direct purchases by residents outside the economic territory of a country
are recorded as imports of services; therefore all expenditure by tourists in
the economic territory of another country are considered as part of the imports
of services. Also international flows of illegal services must be included.
Basic trade
statistics often differ in terms of definition and coverage from the
requirements in the national accounts:
·
Data on international trade in goods are mostly obtained through
declarations to custom services. If a country applies the general trade system,
all goods entering the country are recorded as imports. If the special trade
system (e.g. extra-EU trade statistics) is applied goods which are received
into customs warehouses are not recorded in external trade statistics unless
they subsequently go into free circulation of the importing country.
·
A special case is the intra-EU trade statistics. Since goods move freely
between the member states of the EU without customs controls, statistics on
trade in goods between the member states must be obtained through surveys. To
reduce the statistical burden on the respondents small scale traders are
excluded from the reporting obligation.
·
Statistical recording of trade in services is based on declarations by
banks to their central banks or by surveys of the main operators. In a
globalized economy where services can be rendered via electronic means (e.g.
internet) the related international flows of services are difficult to
identify.
·
Basic statistics on international trade normally do not record smuggled
goods or international flows of illegal services. A small fraction of the
smuggled goods and illegal services may nevertheless be included in official
trade statistics through dummy shipments or dummy declarations that serve to
conceal the illegal nature of the activities.
Export
In national accounts "exports" consist of transactions in goods and services (sales, barter, gifts or grants) from residents to non-residents. The exact definition of exports includes and excludes specific "borderline" cases. A general delimitation of exports in national accounts is given below:
In national accounts "exports" consist of transactions in goods and services (sales, barter, gifts or grants) from residents to non-residents. The exact definition of exports includes and excludes specific "borderline" cases. A general delimitation of exports in national accounts is given below:
·
An export of a good occurs when there is a change of ownership from a
resident to a non-resident; this does not necessarily imply that the good in
question physically crosses the frontier. However, in specific cases national
accounts impute changes of ownership even though in legal terms no change of
ownership takes place (e.g. cross border
financial leasing, cross border deliveries between
affiliates of the same enterprise, goods
crossing the border for significant processing to order or repair). Also
smuggled goods must be included in the export measurement.
·
Export of services consist of all services rendered by residents to
non-residents. In national accounts any direct purchases by non-residents in
the economic territory of a country
are recorded as exports of services; therefore all expenditure by foreign
tourists in the economic territory of a country is considered as part of the
exports of services of that country. Also international flows of illegal
services must be included.
National
accountants often need to make adjustments to the basic trade data in order to
comply with national accounts concepts; the concepts for basic trade statistics
often differ in terms of definition and coverage from the requirements in the
national accounts:
·
Data on international trade in goods are mostly obtained through
declarations to custom services. If a country applies the general trade system,
all goods entering or leaving the country are recorded. If the special trade
system (e.g. extra-EU trade statistics) is applied goods which are received
into customs warehouses are not recorded in external trade statistics unless
they subsequently go into free circulation in the country of receipt.
·
A special case is the intra-EU trade statistics. Since goods move freely
between the member states of the EU without customs controls, statistics on
trade in goods between the member states must be obtained through surveys. To
reduce the statistical burden on the respondents small scale traders are
excluded from the reporting obligation.
·
Statistical recording of trade in services is based on declarations by
banks to their central banks or by surveys of the main operators. In a
globalized economy where services can be rendered via electronic means (e.g.
internet) the related international flows of services are difficult to
identify.
·
Basic statistics on international trade normally do not record smuggled
goods or international flows of illegal services. A small fraction of the
smuggled goods and illegal services may nevertheless be included in official
trade statistics through dummy shipments or dummy declarations that serve to
conceal the illegal nature of the activities.
My opinion about this article :
"Imports"
consist of transactions in goods and services (sales, barter, gifts or grants)
from non-residents residents to
residents. Export of services consist of all services rendered by residents to
non-residents. In national accounts any direct purchases by non-residents in
the economic territory of a country
are recorded as exports of services.
SOURCE:
CONCLUTIONS : Import is when we buy something from another country and get it shipped to you.
Export is when we sell something to another country and it then ship it.
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