Its13 Metadata e

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The data for this report comes

from a variety of sources.

How it is compiled and presented

is explained in this chapter.

Composition, definitions

& methodology

1. Composition of geographical and economic groupings 186

2. Definitions and methodology 190

3. Specific notes for selected economies 197

4. Statistical sources 200

185World Trade OrganizationInternational Trade Statistics 2012

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WTO members are frequently referredto as countries, although somemembers are not countries in the usualsense of the word but are officially

customs territories. The definition ofgeographical and other groupings in thisreport does not imply an expression ofopinion by the Secretariat concerningthe status of any country or territory,the delimitation of its frontiers, northe rights and obligations of anyWTO member in respect of WTOagreements. The colours, boundaries,denominations, and classifications inthe maps of this publication do notimply, on the part of the WTO, anyjudgement on the legal or other status

of any territory, or any endorsementor acceptance of any boundary.

Throughout this report, South andCentral America and the Caribbeanis referred to as South and CentralAmerica; the Bolivarian Republicof Venezuela, Hong Kong SpecialAdministrative Region of China,Macao Special Administrative Regionof China, the Republic of Korea andthe Separate Customs Territory of

1. Composition of geographical

and economic groupings

Taiwan, Penghu, Kinmen and Matsuare referenced as Bolivarian Rep.of Venezuela; Hong Kong, China;Macao, China; Korea, Republic of;

and Taipei, Chinese respectively.

Changes in statistical territories in 2010and 2011 involving the NetherlandsAntilles and Sudan are reflected in thisreport, as far as available statisticspermit. Data for the NetherlandsAntilles are no longer given beginningwith 2011, and are replaced with datafor the successor states Curaao andSint Maarten. Further, the secession ofSouth Sudan from Sudan in July 2011resulted in a decrease in the magnitudeof the latters trade flows. No time

series is currently disseminated forSouth Sudan due to data availability.

As from 1 January 2011, Maldives isno longer a Least Developed Country.

86World Trade Organization

International Trade Statistics 2012

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AsiaAfghanistan** Hong Kong, China* Malaysia* Papua New Guinea* Tonga*

Australia* India* Maldives* Philippines* Tuvalu

Bangladesh* Indonesia* Mongolia* Samoa* Vanuatu**

Bhutan** Japan* Myanmar* Singapore* Viet Nam*

Brunei Darussalam* Kiribati Nepal* Solomon Islands*

Cambodia* Korea, Republic of* New Zealand* Sri Lanka*

China* Lao Peoples Dem. Rep.** Pakistan* Taipei, Chinese*

Fiji* Macao, China* Palau Thailand*

Other territories in the region not elsewhere specified

North AmericaBermuda

Canada*

Mexico*

United States of America*Other territories in the region not elsewhere specified

EuropeAlbania Czech Republic* Hungary* Malta* Slovak Republic*

Andorra** Denmark* Iceland* Montenegro* Slovenia*

Austria* Estonia* Ireland* Netherlands* Spain*

Belgium* Finland* Italy* Norway* Sweden*

Bosnia and Herzegovina** France* Latvia* Poland* Switzerland*Bulgaria* FYR Macedonia* Liechtenstein* Portugal* Turkey*

Croatia* Germany* Lithuania* Romania* United Kingdom*

Cyprus* Greece* Luxembourg* Serbia**


Commonwealth of Independent States (CIS)aArmenia* Georgia*a Moldova* Turkmenistan

Azerbaijan** Kazakhstan** Russian Federation** Ukraine*

Belarus** Kyrgyz Republic* Tajikistan** Uzbekistan**


AfricaAlgeria** Congo* Guinea* Morocco* South Africa*

Angola* Congo, Dem. Rep. of* Guinea-Bissau* Mozambique* Sudan**

Benin* Cte dIvoire* Kenya* Namibia* Swaziland*

Botswana* Djibouti* Lesotho* Niger* Tanzania*

Burkina Faso* Egypt* Liberia** Nigeria* Togo*

Burundi* Equatorial Guinea** Libya** Rwanda* Tunisia*

Cameroon* Eritrea Madagascar* Sao Tome and Principe** Uganda*

Cape Verde* Ethiopia** Malawi* Senegal* Zambia*

Central African Republic* Gabon* Mali* Seychelles** Zimbabwe*

Chad* Gambia* Mauritania* Sierra Leone*

Comoros** Ghana* Mauritius* Somalia


Middle EastBahrain* Israel* Lebanon** Saudi Arabia, Kingdom of* Yemen**

Iran** Jordan* Oman* Syrian Arab Republic**

Iraq** Kuwait* Qatar* United Arab Emirates*


aGeorgia is not a member of theCommonwealth of IndependentStates but is included in this groupfor reasons of geography andsimilarities in economic structure.

* WTO members ** Observer governments

Antigua and Barbuda*

Argentina*

Bahamas**

Barbados*

Belize*

Bolivia, Plurinational State of*

Brazil*

Chile*

Colombia*

Costa Rica*

Cuba*

Curaao

Dominica*

Dominican Republic*

Ecuador*

El Salvador*

Grenada

Guatemala

Guyana

Haiti*

Honduras*

Jamaica*

Netherlands Antilles*

Nicaragua*

Panama*

Paraguay*

Peru*

Saint Kitts and Nevis*

Saint Lucia*

Saint Vincent and the Grenadines*

Sint Maarten

Suriname*

Trinidad and Tobago*

Uruguay*

Venezuela, Bolivarian, Rep. of

South and Central America and the Caribbean


Note: The cut-off date for data compilation for thispublication was 15 August 2012. The RussianFederation and Vanuatu became WTO memberson 22 and 24 August 2012 respectively.


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Andean Community (CAN)

Bolivia

Colombia

Ecuador

Peru

ASEAN (Association of South Eas t Asian Nations) / AFTA (ASEAN Free Trade Area)

Brunei Darussalam Indonesia Malaysia Philippines Thailand

Cambodia Lao People's Dem. Rep. Myanmar Singapore Viet NamCACM (Central American Common market)

Costa Rica El Salvador Guatemala Honduras Nicaragua

CARICOM (Caribbean Community and Common Market)

Antigua and Barbuda Belize Guyana Montserrat Saint Vincent and the Grenadines

Bahamas Dominica Haiti Saint Kitts and Nevis Suriname

Barbados Grenada Jamaica Saint Lucia Trinidad and Tobago

CEMAC (Economic and Monetary Community of Central Africa)

Cameroon Chad Congo Equatorial Guinea Gabon

Central African Republic

COMESA (Common Market for Eastern and Southern Africa)

Burundi Egypt Libya Rwanda Uganda

Comoros Eritrea Madagascar Seychelles Zambia

Congo, Dem. Rep. of Ethiopia Malawi Sudan Zimbabwe

Djibouti Kenya Mauritius Swaziland

ECCAS (Economic Community of Central African States)

Angola Central African Republic Congo, Dem. Rep. of Gabon Sao Tome and Principe

Burundi Chad Equatorial Guinea Rwanda

Cameroon Congo

ECOWAS (Economic Community of West African States)

Benin Cte d'Ivoire Guinea Mali Senegal

Burkina Faso Gambia Guinea- Bissau Niger Sierra Leone

Cape Verde Ghana Liberia Nigeria Togo

EFTA (European Free Trade Association)

Iceland Liechtenstein Norway Switzerland

European Union (27)

Austria Estonia Ireland Netherlands Spain

Belgium Finland Italy Poland Sweden

Bulgaria France Latvia Portugal United Kingdom

Cyprus Germany Lithuania RomaniaCzech Republic Greece Luxembourg Slovak Republic

Denmark Hungary Malta Slovenia

GCC (Gulf Cooperation Council)

Bahrain Oman Qatar Saudi Arabia, Kingdom of United Arab Emirates

Kuwait

MERCOSUR (Southern Common Market)

Argentina Brazil Paraguay Uruguay

NAFTA (North American Free Trade Agreement)

Canada Mexico United States

SAPTA (South Asian Preferential Trade Arrangement)

Bangladesh India Nepal Pakistan Sri Lanka

Bhutan Maldives

SADC (Southern African Development Community)

Angola Lesotho Mauritius South Africa TanzaniaBotswana Madagascar Mozambique Seychelles Zambia

Congo, Dem. Rep. of Malawi Namibia Swaziland Zimbabwe

WAEMU (West African Economic and Monetary Union)

Benin Cte d'Ivoire Mali Senegal Togo

Burkina Faso Guinea- Bissau Niger

Regional integration agreements



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ACP (African, Caribbean and Pacific countries)

Angola Cte dIvoire Haiti Niger South Africa

Antigua and Barbuda Cuba Jamaica Nigeria Sudan

Bahamas Djibouti Kenya Niue Suriname

Barbados Dominica Kiribati Palau Swaziland

Belize Dominican Republic Lesotho Papua New Guinea Tanzania

Benin Equatorial Guinea Liberia Rwanda Timor Leste

Botswana Eritrea Madagascar Saint Kitts and Nevis TogoBurkina Faso Ethiopia Malawi Saint Lucia Tonga

Burundi Fiji MaliSaint Vincent and the

GrenadinesTrinidad and Tobago

Cameroon Gabon Marshall Islands Samoa Tuvalu

Central African Republic Gambia Mauritania Sao Tome and Principe Uganda

Chad Ghana Mauritius Senegal Vanuatu

Comoros Grenada Micronesia Seychelles Zambia

Congo Guinea Mozambique Sierra Leone Zimbabwe

Congo, Dem. Rep. of Guinea-Bissau Namibia Solomon Islands

Cook Islands Guyana Nauru Somalia

Africa

North Africa

Algeria Egypt Libya Morocco Tunisia

Sub- Saharan Africa

Western AfricaBenin Gambia Guinea-Bissau Mauritania Senegal

Burkina Faso Ghana Liberia Niger Sierra Leone

Cape Verde Guinea Mali Nigeria Togo

Cte dIvoire

Central Africa

Burundi Central African Republic Congo Equatorial Guinea Rwanda

Cameroon Chad Dem. Rep. of the Congo Gabon Sao Tome and Principe

Eastern Africa

Comoros Ethiopia Mauritius Somalia Tanzania

Djibouti Kenya Seychelles Sudan Uganda

Eritrea Madagascar

Southern Africa

Angola Lesotho Mozambique South Africa Zambia

Botswana Malawi Namibia Swaziland Zimbabwe

Territories in Africa not elsewhere speciedAsia

East Asia (including Oceania):

Australia Indonesia Mongolia Samoa Tuvalu

Brunei Darussalam Japan Myanmar Singapore Vanuatu

Cambodia Kiribati New Zealand Solomon Islands Viet Nam

China Lao Peoples Dem. Rep. Papua New Guinea Taipei, Chinese

Fiji Macao, China Philippines Thailand

Hong Kong, China Malaysia Republic of Korea Tonga

West Asia:

Afghanistan Bhutan Maldives Pakistan Sri Lanka

Bangladesh India Nepal

APEC (Asia-Pacific Economic Cooperation)

Australia Hong Kong, China Malaysia Russian Federation Viet Nam

Brunei Darussalam Indonesia New Zealand Singapore

Canada Japan Peru Thailand

Chile Korea Papua New Guinea Taipei, Chinese

China Mexico Philippines United States

LDCs (Least-developed countries)

Afghanistan Comoros Kiribati Nepal Tanzania

Angola Congo, Dem. Rep. of Lao Peoples Dem. Rep. Niger Timor Leste

Bangladesh Djibouti Lesotho Rwanda Togo

Benin Equatorial Guinea Liberia Samoa Tuvalu

Bhutan Eritrea Madagascar Sao Tome and Principe Uganda

Burkina Faso Ethiopia Malawi Senegal Vanuatu

Burundi Gambia Mali Sierra Leone Yemen

Cambodia Guinea Mauritania Solomon Islands Zambia

Central African Republic Guinea-Bissau Mozambique Somalia

Chad Haiti Myanmar Sudan

Six East Asian traders

Hong Kong, China Republic of Korea Singapore Taipei, Chinese Thailand

Malaysia

Other groups


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2.1 Merchandise trade

2.1.1 Exports and imports

Two systems of recording merchandise

exports and imports are in commonuse. They are referred to as generaltrade and special trade and differmainly in the way warehoused andre-exported goods are treated. Generaltrade figures are larger than thecorresponding special trade figuresbecause the latter exclude certaintrade flows, such as goods shippedthrough bonded warehouses.

To the extent possible, totalmerchandise trade is defined inthis report according to the generaltrade definition. It covers all typesof inward and outward movement of

goods through a country or territoryincluding movements through customswarehouses and free zones. Goodsinclude all merchandise that eitheradd to or subtract from the stock ofmaterial resources of a country orterritory by entering (imports) or leaving(exports) the countrys economicterritory. For further explanations, seeUnited Nations International Trade

Statistics, Concepts and Definitions,

Series M, N 52, Revision 2.

Unless otherwise indicated, exports

are valued at transaction value,

including the cost of transportation andinsurance to bring the merchandise to

the frontier of the exporting country

or territory (free on board valuation).

Imports are valued at transaction

value plus the cost of transportation

and insurance to the frontier of the

importing country or territory (cost,

insurance and freight valuation).

Table IV.2

Products

A. Primary products

(i) Agricultural products (SITC sections 0, 1, 2 and 4 minus divisions 27 and 28)

of which,

- Food (SITC sections 0, 1, 4 and division 22)

of which,

0 - Food and live animals

1 - Beverages and tobacco

4 - Animal and vegetable oils, fats and waxes

22 - Oil seeds and oleaginous fruits

- - Fish (SITC division 03)

- - Other food products and live animals ( SITC sections 0, 1, 4 and division 22 minus division 03 )

- Raw materials (SITC divisions 21, 23, 24, 25, 26, 29)

of which,

21 - Hides, skins and furskins, raw

23 - Crude rubber (including synthetic and reclaimed)

24 - Cork and wood

25 - Pulp and waste paper

26 - Textile bres (other than wool tops and other combed wool) and their wastes (not manufactured into yarn or fabric)

29 - Crude animal and vegetable materials, not elsewhere specied

(ii) Fuels and mining products (SITC section 3 and divisions 27, 28, 68)

of which,

- Ores and other minerals (SITC divisions 27, 28)

of which,

27 - Crude fertilizers, other than those of division 56, and crude minerals (excluding coal, petroleum and precious stones)

28 - Metalliferous ores and metal scrap

- Fuels (SITC section 3)

- Non-ferrous metals (SITC division 68)

B. Manufactures (SITC sections 5, 6, 7, 8 minus division 68 and group 891)(i) Iron and steel (SITC division 67)

(ii) Chemicals (SITC section 5)

of which,

- Pharmaceuticals (SITC division 54)

- Other chemicals ( SITC divisions 51, 52, 53, 55, 56, 57, 58, 59)

of which,

51 - Organic chemicals

52 - Inorganic chemicals

53 - Dyeing, tanning and colouring materials

55 - Essential oils and resinoids and perfume materials; toilet, polishing and cleaning preparations

56 - Fertilizers (other than those of Group 272, i.e Fertilizers, crude)

57 - Plastics in primary forms

58 - Plastics in non-primary forms

59 - Chemical materials and products, not elsewhere specied

2. Definitions and methodology



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Table IV.2 (iii) Other semi-manufactures (SITC divisions 61, 62, 63, 64, 66, 69) of which,

61 - Leather, leather manufactures, not elsewhere specied and dressed furskins

62 - Rubber manufactures, not elsewhere specied

63 - Cork and wood manufactures (excluding furniture)

64 - Paper, paperboard and articles of paper pulp, of paper or of paperboard

66 - Non-metallic mineral manufactures, not elsewhere specied

69 - Manufactures of metals, not elsewhere specied

(iv) Machinery and transport equipment (SITC section 7)

- Off ice and telecommunication equipment (SITC divisions 75, 76 and group 776)

of which,

- - Electronic data processing and office equipment ( SITC division 75)

- - Telecommunications equipment (SITC division 76)

- - Integrated circuits, and electronic components (SITC group 776)

- Transport equipment ( SITC group 713, sub-group 7783 and divisions 78, 79)

of which,

78 - Road vehicles (including air-cushion vehicles)

79 - Other transport equipment

- - Automotive products (SITC groups 781, 782, 783, 784 and subgroups 7132, 7783)

of which,

781 - Motor cars and other motor vehicles principally designed for the transport of persons (other than public-transport type vehicles),

including station wagons and racing cars

782 - Motor vehicles for the transport of goods and special purpose motor vehicles

783 - Road motor vehicles, not elsewhere specied

784 - Parts and accessories of the motor vehicles and tractors

7132 - Internal combustion piston engines for propelling vehicles listed above

- -Other transpor t equipment (SITC division 79, groups 713, 785, 786 minus sub-group 7132) of which,

79 - Other transport equipment

713 - Internal combustion piston engines, and parts thereof, not elsewhere specied

785 - Motorcycles and cycles, motorized and non-motorized786 - Trailers and semi-trailers, other vehicles (not mechanically propelled), and specially designed and equipped transport

containers- Other machinery (SITC divis ions 71, 72, 73, 74, 77 minus groups 713, 776 minus sub-group 7783) of which,

- - Power generating machinery (SITC division 71 minus group 713)

of which,

71 - Power generating machinery and equipment

minus

713 - Internal combustion piston engines, and parts thereof, not elsewhere specied

- - Non-electrical machinery ( SITC divisions 72, 73, 74)of which,

72 - Machinery specialized for particular industries

73 - Metal working machinery

74 - General industrial machinery and equipment, not elsewhere specied and machine parts, not elsewhere specied

- - Electrical machinery ( SITC division 77 minus group 776 and subgroup 7783)

of which,

77 - Electrical machinery, apparatus and appliances, not elsewhere specied and electrical parts thereof

minus

776 - Thermionic, cold cathode or photo-cathode valves and tubes

7783 - Electrical equipment, not elsewhere specied, for internal combustion engines and vehicles; and parts thereof

(v) Textiles (SITC division 65)

(vi) Clothing (SITC division 84)

(vii) Other manufactures (SITC divisions 81, 82, 83, 85, 87, 88, 89 excluding group 891) of which,

- Personal and household goods (SITC divisi ons 82, 83 and 85)

of which,82 - Furniture and parts thereof, bedding, mattresses, mattress supports, cushions and similar stuffed furnishings

83 - Travel goods, handbags and similar containers

85 - Footwear

- Scientific and controlling instruments (S ITC division 87)

- Miscell aneous manufactures (SITC divisions 81, 88 and 89 minus group 891)

of which,

81 - Prefabricated buildings, sanitary plumbing, heating and lighting xtures and ttings, not elsewhere specied

88 - Photographic apparatus, equipment and supplies and optical goods, not elsewhere specied; watches and clocks

89 - Miscellaneous manufactured articles, not elsewhere specied

C. Other products: commodities and transactions not classified elsewhere (including gold); arms and ammunition (SITC section 9 and group 891)

Products (continued)

9- Commodities and transactions not classed elsewhere in SITC

891 - Arms and Ammunition


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2.1.2 Products

All product groups are definedaccording to Revision 3 of the StandardInternational Trade Classification (SITC).

Throughout this report, other foodproducts and live animals; beveragesand tobacco; animal and vegetable oils,

fats and waxes; oilseeds and oleaginousfruit are referred to as other foodproducts; electronic data processing andoffice equipment is referred to as EDPand office equipment; and integratedcircuits and electronic componentsis referred to as integrated circuits.

2.1.3 World trade network

The world merchandise trade networkby region and product from whichAppendix tables A2 and A10 are derived

is based on export data. The networkis constructed in the following way:

First, total merchandise exportsfrom each of the seven regionsare aggregated from the individualcountry or territory figurespublished in Appendix table A6.

Next, the total merchandise exportsof each region are distributed bydestination and then by product.The regional and commoditybreakdown is based on UNSD

Comtrade database, EUROSTAT,GTIS GTA database, national statisticsand Secretariat estimates.

During this process, theprincipal adjustments to thefigures are as follows:

(i) Exports of ships to the openregistry countries Panama andLiberia are re-allocated fromeach regions exports to Southand Central America and Africato unspecified destinations (acategory not shown separately).

(ii) Chinas exports are adjusted toapproximate their final destination.

(iii) Exports of non-monetary gold, whereknown, are included. When they cannotbe broken down by destination, they areallocated to unspecified destinations.

(iv) South Africas trade does notinclude trade with the former SouthernAfrican Customs Union members.

(v) Estimates for the Middle Eastinclude unrecorded re-exports of

the United Arab Emirates which

accounted for 4 per cent of theregions total exports in 2011. As ofthis publication, these are no longerdistributed by product and destinationand are instead included in unspecifiedproducts and destinations.

2.1.4 Merchandise trade by

product, region and major

trading partner (Commodity

and Appendix tables)

Appendix tables are derived fromUNSD Comtradeand EUROSTAT.For trade by product, world totalsinclude shipments which have not beendistinguished by origin or destination.For trade by region and partner,world totals include goods whichhave not been specified by product.

The following adjustment has

been made to the figures:

Exports of ships to the open registrycountries Panama and Liberia arereallocated from each economysexports to South and Central Americaand Africa to unspecified destinations(a category not shown separately).

The selection of each economys majortrading partners is based on a ranking oftotal trade (exports plus imports) of eacheconomy with their trading partners in2011 (member States of the EU (27)

are counted as one trading partner).

Commodity tables in Chapter II byproduct, region and major tradingpartner are also derived fromUNSD Comtrade and Eurostat.

2.1.5 Merchandise trade

and the goods account in

balance of payments statistics

Merchandise trade statistics serveas an input for the compilation of

the goods account in the balanceof payments (BOP) and the rest ofthe world account in the Systemof National Accounts (SNA) .

The compilation of internationalmerchandise trade statistics (IMTS)relies principally on customs recordscomplemented, as appropriate, byadditional sources to enhance theircoverage (for instance, to includeelectricity, or trade in vessels andaircrafts). These statistics essentiallyreflect the physical movement of goods

across borders, while National Accounts

and BOP statistics record transactionsthat involve change in ownership.

The goods account in the BOP isgenerally compiled on the basis ofIMTS after they have been adjustedfor coverage, timing, and valuation.

Coverage differences between BOPstatistics and IMTS concern mainly:

items such as blueprints, videos,and tapes which are regardedas services within the BOP(hence are excluded from goods)whereas they are included inmerchandise trade statistics at thevalue of the material support;

goods that for practical reasons areexcluded from merchandise tradebut should in theory be recordedin BOP statistics, such as fish and

salvage sold abroad by residentvessels, or imports of bunkers andstores acquired abroad for mobileequipment operated by residents;

goods under the improvementand repair trade regime shouldbe excluded from IMTS, butthey are to be included in thegoods account at the value ofthe repair under the BPM5;

another coverage differenceconcerns goods that are importedin an economy where they undergo

processing operations, and arethereafter re-exported. IMTSrecommends that these movementsbe recorded on a gross basis,whereas BPM5 distinguishesbetween goods that return to thecountry of origin (included withinthe goods account but reportedseparately) and those that are sentto a third economy (such flowsare considered as trade in generalmerchandise between the economyof origin and final destination, and

should be excluded from the goodsaccount of the economy wherethe processing takes place).

The physical movement of goodsacross border measured in IMTS donot necessarily coincide in timingwith changes in the ownership ofgoods. BPM5 therefore recommendsthe application of specificadjustments for such cases.

As far as valuation is concerned,the issue that affects most datacomparability concerns the point of

valuation, namely, whether goods



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are valued at the importers border- that is at the cost, insurance andfreight value - or at the free on boardvalue at the exporters border. IMTSguidelines recommend the adoptionof the c.i.f. valuation for importswhereas the fifth edition of the IMFsBalance of Payments Manual (BPM5)

requires the f.o.b. valuation. Additionaladjustments may be made by BOPcompilers to conform to the BPM5requirement for a market price forvaluing trade, processing trade, andwith respect to currency conversion.

Once adjusted, merchandise tradeis recorded in the goods categoryof the current account, along withservices, income, and current transfers.Therefore, within the balance ofpayments framework transactions inboth goods and services are harmonizedand provide for comparable statisticalseries. Strictly speaking, it is notcorrect to aggregate the figures forcommercial services and merchandiseshown elsewhere in this report.

It should be noted that some economiesstill apply the concepts of the fourthedition of the Balance of PaymentsManual, and thus do not include goodsfor processing and goods procured inport carriers in the goods account.

2.2 Trade incommercial servicesDepending on the location of thesupplier and the consumer, the GeneralAgreement on Trade in Services(GATS) defines four modes of supply.In addition to the cross-border supply(mode 1), where both the supplier andthe consumer remain in their respectivehome territories, GATS also covers caseswhere consumers are outside their hometerritory to consume services (mode 2

consumption abroad), or cases whereservice suppliers are in the territory ofthe consumers to provide their services,whether by establishing affiliates throughdirect investment abroad (mode 3 commercial presence), or through thepresence of natural persons (mode 4).

A countrys balance of payments, thatis the services account, can be usedto derive estimates covering tradein commercial services for modes 1,2 and 4. The Balance of Paymentsdoes however not include most of the

information on the local deliveries of

services through foreign affiliates that isrequired to estimate the size of mode 3.A framework for collecting these data,the Foreign Affiliates Statistics (FATS)has been developed and adopted bythe international statistical communityin 2002. Further information on thesenew statistics is developed below.

2.2.1 Trade in commercial

services between residents and

non residents of an economy

Exports and imports

Exports (credits or receipts) and imports(debits or payments) of commercialservices derived from statistics oninternational service transactions areincluded in the balance of paymentsstatistics, in conformity with the

concepts, definitions and classificationof the fifth (1993) edition of the IMFBalance of Payments Manual.

Definition of commercial

services in the balance

of payments

In the fifth edition of the Balance ofPayments Manual, the current accountis subdivided into goods, services(including government services,not included elsewhere),income

(investment income and compensationof employees), and current transfers.The commercial servicescategoryin this report is defined as beingequal to services minus governmentservices, not included elsewhere.Commercial servicesis further sub-divided into transportation services,travel,and other commercial services.

Transportationservices coverssea, air and other including land,internal waterway, space and pipelinetransport services that are performed

by residents of one economy forthose of another, and that involve thecarriage of passengers, the movementof goods (freight), rentals (charters)of carriers with crew, and relatedsupporting and auxiliary services

Travelincludes goods and servicesacquired by personal travellers, forhealth, education or other purposes,and by business travellers. Unlikeother services, travel is not a specifictype of service, but an assortmentof goods and services consumed by

travellers. The most common goods

and services covered are lodging, foodand beverages, entertainment andtransportation (within the economyvisited), gifts and souvenirs.

Other commercial servicescorresponds to the followingcomponents defined in BPM5:

(i) communications services includestelecommunications, postal andcourier services. Telecommunicationsservices encompasses thetransmission of sound, images orother information by telephone,telex, telegram, radio and televisioncable and broadcasting, satellite,electronic mail, facsimile servicesetc., including business networkservices, teleconferencing and supportservices. It does not include thevalue of the information transported.

Also included are cellular telephoneservices, Internet backbone servicesand on-line access services, includingprovision of access to the Internet;

(ii) construction covers workperformed on construction projectsand installation by employees of anenterprise in locations outside theterritory of the enterprise (the one-year rule to determine residency is tobe applied flexibly). In addition goodsused by construction companies fortheir projects are included which

implies that the true servicescomponent tends to be overestimated;

(iii) insurance servicescovers theprovision of various types of insuranceto non residents by resident insuranceenterprises, and vice versa, forexample, freight insurance, directinsurance (e.g. life) and reinsurance;

(iv) financial servicescovers financialintermediation and auxiliary servicesprovided by banks, stock exchanges,factoring enterprises, credit cardenterprises, and other enterprises;

(v) computer and informationservices is subdivided into computerservices (hardware and softwarerelated services and data processingservices), news agency services(provision of news, photographs,and feature articles to the media),and other information provisionservices (database servicesand web search portals);

(vi) royalties and licence fees,covering payments and receipts forthe use of intangible non-financial

assets and proprietary rights, such


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Number of economies reporting Balance of Payments services components for 2010

Exports Imports

Total commercial services 184 184

Transportation services 177 178

Travel 179 178

Other commercial services 178 178

Communications services 166 164

Telecommunications services 125 122

Construction 112 134

Insurance services 155 166

Financial services 133 143

Computer and information services 122 138

Computer services 87 93

Royalties and license fees 117 147

Other business services 161 169

Personal, cultural, and recreational services 115 125

Audiovisual and related services 68 76

as patents, copyrights, trademarks,industrial processes, and franchises;

(vii) other business services,comprising trade-related services,operational leasing (rentals), andmiscellaneous business, professionaland technical services such aslegal, accounting, managementconsulting, public relations services,advertising, market research andpublic opinion polling, research anddevelopment services, architectural,engineering, and other technicalservices, agricultural, miningand on-site processing; and

(viii)personal, cultural,andrecreational services is subdividedinto two categories, (i) audiovisualservices and (ii) other cultural andrecreational services. The firstcomponent includes services and

fees related to the productionof motion pictures, radio andtelevision programmes, and musicalrecordings. Other personal, cultural,and recreational services includesservices such as those associatedwith museums, libraries, archives,and other cultural, sporting,and recreational activities.

classification. Methodologies to buildestimates for certain service categoriesmay also differ between economies,notably due to the continuing effortsto improve these statistics. Someeconomies have made progress in theestimation of insurance services to takeinto account premium supplementsand claim volatility (i.e. in the caseof catastrophic events). Sixth, thealternate sources used for countrieswhich are not members of the IMF donot necessarily comply with the IMFconcepts and definitions. Seventh,misclassification of transactionsmay lead to an underestimation ofcommercial services when servicetransactions are registered as income,transfers or trade in merchandiserather than trade in services or,conversely, to an overestimation ofcommercial services when transactionspertaining to income, transfers orofficial transactions are registeredin the private service categories.

These distortions may be particularlysignificant at the detailed level, i.e.,for a detailed service category, andmay lead to considerable asymmetriesbetween countries reported tradeflows by origin and destination.

The estimation of world trade by

services components has beenbased on reported economy dataas shown in the following table:

Coverage and comparability

With the implementation of BPM5, thecoverage and comparability of servicestrade data have improved over time.However, given that these improvementshave been made gradually, they alsoresulted in a number of breaks in seriesand are subject to significant distortions.

First, some countries do not collectstatistics for certain service categories.Second, some service transactions aresimply not registered. If central bankrecords are used, situations where nofinancial intermediaries are employed arenot counted. In the case of surveys, thecoverage of trading establishments isoften incomplete. A particularly seriousproblem is that services transmittedelectronically are frequently unregisteredas well as when the transactions take

place within multinational corporations.Third, statistics may be reported ona net rather than on a gross basis,often as a result of compensationarrangements such as in rail transportor in communications services. Fourthsome services transactions may bedifficult to capture. It is often easierfor compilers to collect more completeand reliable information on trade inservices exports rather than on importsgiven the large number and diversity ofimporters compared to that of exporters,e.g. financial services, computer

services. Fifth, some particular servicetransactions may not be classifiedto the appropriate BPM5 services

Table IV.3



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First, total trade in commercial servicesfrom each of the seven regions isaggregated from the individual economyfigures published. The breakdown ofthese data is then applied to missingcountries before aggregating regionaland world totals. Tables on major tradersare based on reported data only.

Statistics on international trade inservices are produced jointly andpublished simultaneously with UNCTAD.

Regional and world estimates for2011 for sub-item of other commercialservices should be considered aspreliminary.

Bilateral tradeAs from 2007, available reportersbilateral trade with the European Unionrefers to the EU(27).

2.2.2 Foreign Affiliates

Statistics

The new statistical framework onForeign Affiliates Statistics (FATS) isdeveloped in the Manual on Statisticsof International Trade in Services.The statistical framework coversboth goods and services producingenterprises, but the focus here is onservices. It analyses the universe offoreign affiliates for which foreigninvestors own more than 50 per centof the voting power or equity interest.Depending on the compilers view, onecan distinguish inward FATS, that is,activities of foreign-owned affiliatesin the compiling economy, or, outwardFATS, that is, foreign affiliates of thecompiling economy active abroad.Variables such as sales, value added,number of employees, etc. are used to

describe the affiliates activities. Thesevariables are broken down by countryof origin or destination of investmentsand also by type of primary activity ofthe affiliates. The United States alsoprovide a breakdown of sales into totalgoods and total services products.FATS statistics are currently availablemainly for OECD and a small numberof non-OECD economies. Given therecent development of these statistics,comparability and coverage of individualeconomy data may not always becomplete. Availability of detailed dataand long-time series varies considerablybetween economies. From a GATSperspective, the size of mode 3 in agiven country can be approximatedthrough the sales of service by foreign-owned affiliates.

2.3 Other definitions

and methods

2.3.1 Annual changes

Throughout this report, average annualpercentage changes are analogous tocompound interest rates. In calculatingthe average annual rate of changebetween 2005 and 2011, for example,data for calendar year 2005 weretaken as the starting point, and data forcalendar year 2011 as the end point.

2.3.2 Prices

Commodity price movements areprimarily described by indices largelybased on spot market prices, andtherefore exclude transactions governedby longer-term contracts. Price

indices for such commodities as food,beverages, agricultural raw materials,minerals, non-ferrous metals, fertilizersand crude petroleum are obtainedfrom IMF Primary Commodity Prices(July 2012 release). Aggregates for allprimary commodities and for non-fuelprimary commodities are calculatedusing IMF weights (Appendix tableA33). Beginning with the first quarterof 2011, the crude oil price index shownin Appendix table A33 is computedexcluding West Texas Intermediate

(WTI), which accounts for one third ofthe IMFs crude oil index. The price ofWTI became largely dislocated frominternational markets in early 2011 andis thought not to represent well pricesin international oil trade. For moreinformation, see Box Comm.1 of theWorld Banks Global Commodity MarketOutlook, January 2012 (see page65 of the complete report on http://go.worldbank.org/WI8LCZ6PT0).

Export and import prices by commoditygroup of Germany, Japan and the

United States are sourced from nationalstatistics. Aggregates are calculated byweighting the countries price indiceswith the export and import values ofthe countries respective base year(Appendix tables A34 and A35).


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2.3.3 World merchandise

trade indices

The volume indices and the deflators(i.e. price indices or unit values)are taken from a range of differentinternational and national sources. Thereported deflators and volume indicesmay not always be available for the mostrecent years or may differ in productcoverage from the corresponding valueindices.

Aggregation of the indices to obtaina world total is a two-tier process.First, export and import deflators fromnational and international sourcesare complemented with Secretariatestimates for missing data. They arethen aggregated to obtain regionaltotals. The volume index for each regionis obtained by dividing the respective

trade value index for each region by thecorresponding regional deflator.

Second, the total world merchandisevolume index is obtained by deflatingthe world trade value with the aggregateof regional deflators. Throughout theaggregation process trade values of theprevious year are used as weights.

2.3.4 World production

Production of agriculture (includinghunting, forestry and fish), mining and

manufacturing is defined accordingto major Categories A, B, C and D ofthe International Standard IndustrialClassification of all Economic ActivitiesRevision 3 (ISIC). World production inthese sectors is estimated by combiningproduction indices published by the FAO,OECD, UNIDO and UNSD. The worldindex is derived through aggregation ofthe three sectors by using value addedshares in 2005 as weights.

2.3.5 World gross domestic

product

World GDP growth is estimated as aweighted average of economies realGDP growth. The weights used areshares of economies in 2005 worldnominal GDP converted to dollars atmarket exchange rates.

The use of official exchange rateswhich are not market-based for somemajor economies, together with thefluctuations of the United Statesdollar vis--vis major currencies,can have a significant impact on theweighting pattern. The increasing useof weights based on purchasing powerparities (PPP) by other internationalorganizations is meant to attenuateanomalies linked to these factors. In aperiod of widely diverging growth rates

among countries and regions, the choiceof the weighting pattern can have amarked influence on the global growthestimate. For the 2000-2011 period,global growth estimates based on PPP-weights indicate a significantly fastergrowth than estimates using weightsbased on GDP data measured atmarket exchange rates. This is becauseof differences in the two weightingpatterns.

2.3.6 Re-exports and

re-imports

Under the system of general tradeadopted in this report, re-exports areincluded in total merchandise trade (seeSection II.1).

However, in the case of Hong Kong,

China, the magnitude of its re-exports(amounting in 2011 to $439 billion), ifincluded in regional or world aggregates,would adversely affect the analyticalvalue of the statistics by introducing asignificant element of double counting.Therefore, Hong Kong, Chinasre-exports are excluded from the worldand from Asia aggregates (unlessotherwise indicated); only Hong Kong,Chinas domestic exports and retainedimports are included in the totals.For this reason, the figures for world

exports and for exports of Asia shown inAppendix tables A2 and A10 are smallerthan those in Appendix table A6. Whenretained imports are not published, anapproximation is made on the basis ofre-export values.

China reports imports from China(re-imports), a trade flow whichaccounted for 7.0 per cent ($122.6billion) of its total merchandise importsin 2011. These imports consist ofproducts which have been producedin China and thereafter temporarily

exported. The product structure ofChinas imports from China indicatesthat in absolute terms office andtelecom equipment is the largestcategory ($68.3 billion) in this particulartrade flow. The share of re-importsis particularly large in the imports oftelecommunications equipment (45.8 percent), EDP and office equipment (36.5per cent), electrical machinery (28.0per cent) and in textiles (15.8 per cent).Further information on these imports isprovided in Box 2 of the InternationalTrade Statistics 2005.



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3. Specific notes for

selected economies

3.1 Merchandise

trade statistics of the

European UnionBeginning with the 2002 report, EUdata compiled according to nationalstatistical practices have been replaced,starting 1993, with data compiledby Eurostat in accordance with EUlegislation. The concepts and definitionsadopted by the EU are in line with theUnited Nations International TradeStatistics,Concepts and Definitions,Series M, N 52, Revision 2. As a result,the conceptual differences betweenEU member states data have beensubstantially reduced. Moreover, for the

EU as a whole, Eurostat data are moretimely than the previous source, thusreducing substantially the amount ofestimation included in the EU aggregate.

Since January 1993, statistics on thetrade between the member states ofthe EU have been collected throughthe Intrastat system (see GATT1994, International Trade Trends andStatistics). The coverage of this system,which relies on reports submitted byfirms for transactions above a minimumvalue, is not as wide as the previous

one, which was based on customsdeclarations. This is particularlynoticeable on the import side. Forexample, prior to the adoption of theIntrastat system, reported intra-EUimports (c.i.f.) closely matched reportedintra-EU exports (f.o.b.). However, from1993 onwards, the reported value ofintra-EU imports has been on averagearound 3 per cent lower than thevalue of intra-EU exports, indicating asubstantial under-reporting of intra-EUimports. As a result of this inconsistency,the Secretariat has substituted intra-EUexports data for intra-EU imports at theaggregate EU level when estimatingregional and world totals. However, thisadjustment is not allocated betweenEU member countries. Hence, the sumof reported imports of individual EUmembers does not add to the figure forEU imports as a whole. This adjustmentis also reflected in the volume estimatesfor the EU as a whole.

3.2 Merchandise trade

of South Africa with

SACU (South African

Customs Union)South Africas merchandise exports(and imports) exclude shipments

to (from) other SACU members(Botswana, Lesotho, Namibia andSwaziland). Partner statistics indicatethat South African shipments amountto 85 per cent of these countriestotal merchandise imports in 2004.This share most likely increasedthereafter and represents an importanttrade flow for the African region. IfSouth Africas exports would be adjustedfor these shipments to SACU members,its total exports would be about $ 6billion higher in 2011 and intra-African

trade would be substantially higher, withintra-SACU trade being the largest intratrade flow for regional trade agreementsin Africa.

3.3 Major breaks in

data continuity of

merchandise tradeBeginning 2003, Singapore includesmerchandise trade with Indonesia.Beginning 2008, Indonesias imports are

reported according to the general tradesystem.

With respect to the Russian Federation,considerable uncertainty remains aboutthe accuracy of foreign trade statistics,especially as regards imports. A largeproportion of the reported data onimports consists of official estimatesof inflows of goods which enter theeconomy without being registered by thecustoms authorities. Such adjustmentsto import data accounted for 6 per centof the officially reported totals in 2011;

and, on the export side, for about 1 percent of total reported exports.

Merchandise trade flows betweenthe European Union member Statesinclude trade associated with fraudulentVAT declaration, which concernsmainly office and telecommunicationsequipment. Between 2006 and 2007,intra-EU merchandise trade statisticshave been particularly affected by aconsiderable reduction in this fraudulenttrade in the United Kingdom.


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3.4 Trade in services

of the United StatesOver recent years the United StatesBureau of Economic Analysis hascontinuously improved its trade incommercial services estimates.

In 2011, the United Statesimplemented a number of changes inthe classification of certain servicestransactions beginning with statisticsfor the year 1999. Apart fromregular updates in source data, theseimprovements were part of a broadereffort to align with the recommendationsof the new IMF Balance of PaymentsManual (BPM6).

In particular, revisions incorporated theresults of BEAs 2009 financial servicesbenchmark survey (which did not

contain a reporting threshold) as wellas the reclassification of postal servicesfrom U.S. government miscellaneousservices to other transportation. U.S.expenditures by foreign nationalsworking at international organizationswere removed from other services.Revised methodologies were used forestimating the U.S. expenditures offoreign residents who work in the UnitedStates for less than 1 year and forestimating U.S. air carriers expendituresin foreign ports. Finally, cruises fares

were reclassified from passenger faresto travel. As a result of these changes,United States exports and imports ofservices were revised upwards.

In 2010, the United States revisedits goods and services accounts toreflect the reclassification of certaintransactions from services to goods.In particular, in previously publishedstatistics, certain exports and imports ofmilitary-related goods were recorded ona transactor basis and were combinedwith other services transactions in

the services account. In addition,expenditures on goods and servicesby foreign air and ocean carriers inU.S. ports (exports) and by U.S. air andocean carriers in foreign ports (imports)were included in other transportationservices. Beginning with statistics for1999, fuel expenditures by foreignand U.S. air and ocean carriers werereclassified from other transportationservices to goods.A number of changesin terms of content were also introduced.Beginning with 2006 and continuingwith 2007 surveys of transactions in

selected services and transactions infinancial services, transactions withaffiliated and unaffiliated persons arecollected on the same form and in thesame detail.This in particular reducesthe potential for duplicate reportingor omissions. It is important to notethat given this major revision, some

time series were significantly revisedand for some other detailed servicesitems, including both affiliated and nonaffiliated trade, data are not availableprior to 2006.

Another major revision was introducedin 2003, when the United Statesrevised its methodology for estimatingtrade in insurance services. The newmethodology measures insuranceservices as premiums less normalclaims. Normal claims comprise twocomponents: regularly occurring claims

that are calculated as an average of allclaims paid during the previous six years,and a share of catastrophic claimsthat is added-on to regularly occurringclaims in equal increments over the twodecades following their event.

As comprehensive data collection oninsurance services started in 1986,the first six-year average of regularlyoccurring claims could only becalculated for 1992. As a result, timeseries on trade in insurance services,

and consequently on other commercialservices, have been revised back to1992. To complete the 2003 revision,in 2004 the United States added toinsurance services an estimate ofpremium supplements (or income earnedon technical reserves of insurancecompanies). Insurance companiesprovide financial protection to policyholders through the pooling of risk andprovide financial intermediation servicesthrough the investment of reserves. Theincome is treated as accruing to thepolicy holders who pay it back to the

insurers as supplements to premiumsto cover the full cost of insurance.The investment income of insurancecompanies is not output in and of itself;it is used to impute the value of theimplicit component of insurance servicesattributable to financial intermediation.

3.5 Travel exports

and transportation

services exports and

imports of JapanIn order to enhance the coverage ofestimates of travel exports and imports,

the Bank of Japan and the JapaneseMinistry of Finance reviewed theircompilation methodology, notably byincluding results from a new expendituresurvey of foreign travellers as of 2003.This revision had a major impact onthe estimates for travel exports. Thismethodology was reviewed in 2007based on the results of a new survey(International Travelers Survey onExpenditures) which are used in the newcompilation method to directly estimatethe amounts spent by travelers to pay

for goods and services. This applies toexports and imports data as from 2006. Inorder to maintain consistent growth rates,data shown in this report for Japanese1995-2005 travel trade and trade incommercial services include provisionalSecretariat estimates referring to thenew compilation methodology (i.e. afterJanuary 2006) applied by the Japaneseauthorities and therefore they differ from1995-2005 figures available elsewhere.As from 2009, Japans travel exports andimports data reflect the results of newsurveys.

Data shown for transportation servicesin this report are consistent with revised1996-2004 data published in 2006 bythe Bank of Japan (based on a newmethodology for measuring sea freightfares).



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3.6 Trade in other

commercial services of

IndiaIn the course of 2004, the ReserveBank of India released new datafollowing the introduction of a new

reporting system to improve the coverageof Indian trade in services statistics(mainly affecting the item other businessservices). The data shown in tables forIndia for computer services refer to WTOSecretariat estimates. The Indian figuresreported by the Reserve Bank of India andinternational agencies refer to softwareservices (covering Information Technology(IT) and IT enabled services). Thecoverage of software services does notcorrespond to the definition of computerservices in international guidelines. WTOsecretariat estimates are drawn from the

software figure which is broken downinto a computer/IT component includedin the item computer services, and anIT enabled services component includedunder the item miscellaneous business,professional and technical services (underother business services). This breakdownis done on the basis of the informationpublished in the annual RBI report Surveyon Computer Software & InformationTechnology Services Exports.

3.7 Trade in


United Arab EmiratesCommercial services trade statisticsof United Arab Emirates only covertransportation and travel.

3.8 Trade in


NigeriaNew data from 2005 compiled on thebasis of BPM5 recommendations werereleased by the Bank of Nigeria in 2007.This results in a break in series forNigerian data in 2005.

3.9 Trade in

commercial services ofSouth AfricaIn 2006 the Reserve Bank of SouthAfrica improved its commercial servicesestimates, and revised its data back to2001 (resulting in a break in series forthat year).

3.10 Trade in other


BahrainNew data compiled from 2004 for othercommercial services items, resulting in abreak in series for that year.

3.11 Trade in other


OmanIn 2008 new data compiled (newnational data from new survey ofcorporate firms in 2007) for othercommercial services items, resulting in a

break in series for 2005 for exports and2003 for imports.

3.12 Trade in


the Islamic Republic of

IranStarting with 2004, Iran compiles dataaccording to the recommendations of

the BPM5.

3.13 Trade in


the Kingdom of Saudi

ArabiaNew data are compiled from 2005according to BPM5 principles. Prior to2008 a number of items (e.g. financialservices, other business services) werestill not all classified according to the

BPM5 definitions and some items werereceived net.

3.14 Trade in financial

servicesFor Singapore (from 1995), andSwitzerland, (from 1999) data ontrade in financial services includeFinancial Intermediation ServicesIndirectly Measured (FISIM). Thisis not in accordance with BPM5recommendations.

For Australia, 2009 data include FISIMdue to the countrys transition to BPM6.


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4. Statistical sourcesMost frequently used sources forstatistics are:

EUROSTAT, Comext and on-line

databases

FAO, FAOSTAT Agriculture database

FAO

, Production YearbookGTIS, Global Trade Atlas database

IMF, Balance of Payments Statistics

IMF, International Financial Statistics

IMF, World Economic Outlook database

OECD, Main Economic Indicators

OECD, Measuring Globalisation:

The Role of Multinationals in

OECD Economies

OECD, Monthly Statistics of

International Trade

OECD, National Accounts

OECD, Statistics on International Trade

in ServicesOECD/IEA, Energy Prices & Taxes

UNECE, Economic Survey of Europe

UNECLAC, Overview of the Economies

of Latin America and the Caribbean

UNIDO, National Accounts Statistics

Database

UNSD, Comtrade database

(for OECD members the UNSD-OECD

Joint Trade Data Collection and

Processing system)

UNSD, International Trade Statistics

YearbookUNSD, Monthly Bulletin of Statistics

UNSD, Servicetrade database

World Bank, World Development

Indicators

These sources are supplementedby national publications and otherinternational databases and Secretariatestimates.

Figures for total merchandise trade arelargely derived from IMF, InternationalFinancial Statistics. Data on

merchandise trade by origin, destinationand product are mainly obtained fromEurostats Comext database, the GlobalTrade Atlas and UNSDs Comtradedatabase. Some inconsistencies in theaggregate export and import data forthe same country or territory betweensources are inevitable. These canbe attributed to the use of differentsystems of recording trade, to the way inwhich for example IMF and UNSD haveconverted data expressed in nationalcurrencies into dollars, and revisionswhich can be more readily incorporated

in the IMF data.

Statistics on trade in commercialservices are mainly drawn from theIMF Balance of Payments Statistics.Data for European Union members, EUcandidate and EU observer countries aswell as the EU(27) aggregate are drawnfrom Eurostats on-line database from2004. For other economies that do notreport to the IMF (e.g., Chinese Taipei)data are drawn from national sources.Estimations for missing data are mainlybased on national statistics. Statistics ontrade in commercial services by originand destination are also derived fromnational statistics.

GDP series in current dollars are mainlyderived from the World Bank WorldDevelopment Indicators, supplementedin some cases with statistics fromthe IMF World Economic Outlookdatabase.

Acknowledgements are due to theFood and Agriculture Organization,the International Monetary Fund, theOrganisation for Economic Co-operationand Development, the Statistical Officeof the European Communities, theUnited Nations Economic Commissionfor Europe, the United Nations Economic

Commission for Latin America and theCaribbean, the United Nations StatisticsDivision, the United Nations IndustrialDevelopment Organization, the WorldIntellectual Property Organization andthe World Bank whose assistance insupplying advance information hasgreatly facilitated the work of theSecretariat. Acknowledgements are alsodue to national institutions for providingadvance statistics.

Closing date for merchandise tradestatistics (Customs basis) and

commercial services (Balance ofPayments basis) is 15 July 2012. Forforeign affiliates trade in servicesstatistics the closing date is 16 August2012.



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