Special valuations concerning products

1.54 Because of transport costs, trade margins and taxes less subsidies on products, the producer and the user of a given product usually perceive its value differently. In order to keep as close as possible to the views of the transactors, the system records all uses at purchaser's prices, which include transport costs, trade margins and taxes less subsidies on products, while output is recorded at basic prices, which exclude these elements.

1.55 Imports and exports of products are recorded at border values. Total imports and exports are valued at the exporter's customs frontier, or free on board (f.o.b.). Foreign transport and insurance services between the importer's and the exporter's frontiers are not included in the value of goods but are recorded under services. As it may not be possible to obtain f.o.b. values for detailed product breakdowns, the tables containing details on foreign trade show imports valued at the importer's customs frontier (c.i.f. value). All transport and insurance services to the importer's frontier are included in the value of imported goods. As far as these services concern domestic services a global f.o.b./c.i.f. adjustment is made in this presentation.