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Statistics > Definitions > External Trade Statistics

External Trade Statistics (Definitions)
BALANCE OF TRADE: =(Export + Re-export)–(Import + Re-import)
External Trade refers to the goods that add to or subtract from material resources in a country as a result of their movement into or out of the country.
 
EXPORT: Export Statistics compiled by Federal Bureau of Statistics (FBS) reflects physical exit of goods out of the country ‘s custom boundary irrespective of money consideration.
 
IMPORT: Import Statistics compiled by FBS reflects physical entry of goods into the country ‘s custom boundary irrespective of money consideration.
 
RE-EXPORT: Goods imported and returned to the exporting country for any reason without any modification or change in its original shape or form, is termed as re-export.
 
RE-IMPORT: Goods exported and returned to the consignor country without any modification or change in the original shape or form is termed as re-import.
 
COVERAGE
EXPORT: It includes all transactions carried through Sea, Air and Land on Government, Semi Government and private account. Export statistics is a complete record of physical movement of merchandise out of Pakistan to foreign countries. Supplies and bunker fuels to ships are included in export according to colour of the ship. Exports by parcel post are also included.

However, the following are excluded from export statistics:
  1. Defense Stores where values have not been indicating by Defense Authorities.
  2. Gold and Silver coins or bullion and Currency notes.
  3. Articles of baggage and personal effects of passengers.
  4. Relief goods/goods of no commercial value.
  5. Trade in transit through Pakistan.
IMPORT: It includes all transactions carried through Sea, Air and Land on government, semi government and private account. Import statistics represent the arrival of goods from foreign countries released by customs either directly or from bonded warehouse and intended for home consumption or for re-exportation. Diplomatic privileges imports and parcel posts are also included. Goods salvaged from or disposed off by ships in mid-stream are included in the import from the country according to the colour of the ship.

However, the following are excluded from import statistics:
  1. Imports into Bond.
  2. Defense Stores where values have not been indicating by Defense Authorities.
  3. Gold and Silver coins or bullion and currency notes.
  4. Articles of baggages and personal effects of passengers.
  5. Trade in transit through Pakistan.
  6. Sales of duty free shops.
  7. Relief goods/goods of no commercial value.
CLASSIFICATION OF COMMODITY
From July,1989 to June 2002, Pakistan Standard Trade Classification Revision-3 (PSTC-R3) were used for compilation and dissemination of external trade statistics.

In pursuance of the recommendations of UN Statistics Division for adoption of Harmonized Commodity Description and Coding System (HS) for compilation and dissemination of external trade statistics by member countries and to cater to the needs of users, Federal Bureau of Statistics in cooperation with Central Board of Revenue, Pakistan Customs, M/o Commerce and Export Promotion Bureau has prepared Alpha Register of 6050 HS Codes at eight digit level compatible with PCT2002-2003 and based on HS-2002 which is being used for commodity classification and compilation of external trade statistics since July, 2002.
 
COUNTRY CLASSIFICATION
Country Classification has been enlarged in the light of latest political and geographical changes.
 
VALUATION
Exports are valued on FOB basis while imports on CIF basis, as declared by exporters/importers and accepted by the customs.
 
FOREIGN TRADE INDICES
Laspeyers formula in its original form is used in the computation of trade indices that is as under.
 
                Unit Value Index = ∑Pn x Qo   x  100
                                            ∑Po x Qo

                Quantum Index  =   ∑Qn x Po  x 100
                                              ∑Qo x Po

                Where:
                           Pn --> refers to the price (Unit Value) of each item during the current period.
                           Po --> refers to the price (Unit Value) of each item during the base period.
                           Qn --> refers to the quantity data (Volume) of each item during the current period.
                           Qo --> refers to the quantity data (Volume) of each item during the base period.
 
TERMS OF TRADE
It shows the average price of a country’s aggregate exports in relation to the average price of its imports.

               Terms of Trade = Index of Unit Values of Exports  x  100
                                         Index of Unit Value of Imports
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