CBS, STATISTICAL ABSTRACT OF ISRAEL IMPORTS AND EXPORTS

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1 CBS, STATISTICAL ABSTRACT OF ISRAEL למ ס'', שנתון סטטיסטי לישראל 16 DEFINITIONS AND EXPLANATIONS Imports and exports of goods and services are presented in the goods account and in the services account two of the four accounts that comprise the current balance of payments (see Chapter 15 - International Accounts). The data on imports and exports of goods were compiled in accordance with the recommendations of the International Merchandise Trade Statistics: Concepts and Definitions 2010, and the data on imports and exports of services were compiled in accordance with the Manual on Statistics of International Trade in Services 2002, both published by the UN. Goods: Physical, produced objects for which a demand exists, over which ownership rights can be established and whose ownership can be transferred from one institutional unit to another by engaging in transactions on markets. Services: Products that are the result of production activity that changes the conditions of the consuming units, or facilitates the exchange of products or financial assets. Imports of goods and services: Purchases, barter, or receipts of gifts or grants of goods and services by residents from non-residents. Exports of goods and services: Sales, barter, or gifts or grants of goods and services by residents to non-residents. The CIF price (Cost, Insurance and Freight price): The price of a good delivered at the frontier of the importing country, including any insurance and freight charges incurred to that point The FOB price (Free On Board price): The market value of the goods at the point of uniform valuation (the customs frontier of the economy from which they are exported). It is equal to the CIF price less the costs of freight and insurance charges, between the customs frontier of the exporting (importing) country and that of the importing (exporting) country. (136) Note: In the imports and exports data there are updates for data from previous years as well as for current data. Therefore, there are no markings of R (revised data) or an * (provisional data), even when there have been changes in the data. OF GOODS AND SERVICES (Table 16.1) Foreign trade in goods and services which includes imports, exports, and the balance of foreign trade is presented separately for goods and for services. The total imports, exports, and balance of foreign trade are presented as summaries of goods and services. The balance of foreign trade is defined as the difference between total exports and total imports. The data on imports and exports of goods and services are adjusted to the terms of the balance of payments, according to international definitions and as specified in Table ADJUSTMENTS OF FOREIGN TRADE DATA TO THE BALANCE OF PAYMENTS DEFINITIONS (Table 16.2) The foreign trade data on imports and exports of goods and services are obtained from the customs authorities and adjusted to the definitions of the balance of payments, according to international guidelines. These adjustments pertain to the following items: ADJUSTMENT OF IMPORTS Adjustment to a uniform valuation: Data on imports of goods are obtained from the customs authorities, and are based on CIF data. According to international guidelines, the CIF data need to be converted into FOB terms which correspond to the presentation of data on exports. The costs of freight and insurance are deducted from the value of imports obtained from the customs

2 authorities in order to be recorded in the balance of payments. The costs of freight and insurance by foreign companies are imputed to imports of services in the appropriate item. Diplomatic missions and tourist shipments: Transactions made by foreign residents among themselves are not included in the balance of payments. The value of imports in this item is subtracted from the value of imports obtained from the customs authorities, in order to be recorded in the balance of payments. Goods on rental basis: There is no transfer of ownership for these goods. Hence, they do not need to be included in imports. Bunker oil: These costs are not included in the data obtained from the customs authorities, but they are part of imports of goods. Hence, they need to be added to the value of imports. Defence imports: The value of total defence imports is obtained from the defence system. Other adjustments for imports: This item includes various adjustments. Of those, the main ones are: addition of goods imported by duty free stores; transfer of costs related to purchase of newspapers, magazines, and other printed matter to the services account; deduction of the temporary value of imports of goods and services intended for exhibitions and fairs, etc. Imports from the Palestinian Authority: These imports are not obtained from the foreign trade system, because they do not go through customs; they are added to the total imports of goods from sources based on VAT invoices. ADJUSTMENTS OF EXPORTS The main adjustments of exports are derived from the following three items: International trade in goods sold abroad, without the goods entering or leaving the country's borders: According to the new international guidelines (BPM6) these transactions are recorded in the balance of payments as exports of goods. Purchase of goods abroad or the cost of manufacturing of goods abroad by sub-contractors are recorded as negative exports, whereas the sale of goods abroad to end customers is recorded as positive exports. The sum of both is recorded as net exports of goods (see Table 16.14). (137) Recording sales by progress of work in large establishments: These establishments carry out large projects, in which partial completion of the work is recognized as sales recorded in the books of the company. Recording in the balance of payments is based on the reports of the companies that work according to this method. Exports to the Palestinian Authority: These exports are recorded from sources based on VAT invoices, and the data are not obtained from the customs data. OF GOODS (Tables ) The data on imports and exports presented in these tables do not include information on trade between Israel and the Palestinian Authority or information on defence imports. CLASSIFICATION OF GOODS The data on Israel s imports and exports are published according to two classifications of goods: 1. Standard International Trade Classification, Revised IV, United Nations Statistical Office, Statistical Papers series 14, No. 34, New York, The Harmonized Commodity Description and Coding System, Customs Cooperation Council, Brussels, Data on imports are also classified by economic use. In this classification, import items are categorized according to the primary use of the goods. The classification is based on surveys conducted by the Central Bureau of Statistics every few years. These surveys investigate the uses of imported goods. Data on exports are classified also by technological intensity, according to the classification of the OECD (Classification of Manufacturing Industries based on Technology, OECD Science, 2004). VALUE OF GOODS Imports are valued at the CIF (cost, insurance and freight) price, and exports are valued at the FOB (Free On Board) price. The exception to this rule is exports of citrus, fresh fruit and vegetables, and flowers.

3 These exports are recorded here - and in other publications of the CBS on exports - after deduction of all expenses abroad. Exports data are classified according to the new classification of economic activities. (Standard Classification of All Economic Activities 2011, Technical Series No. 80, Central Bureau of Statistics). The distribution of goods among the various industries is based on descriptions of items in the classification of goods and not on the exporter s industry. As of 1988, data on exports by industry can be obtained from the database of the Central Bureau of Statistics. CLASSIFICATION OF COUNTRIES Country of purchase: The country in which the seller of the goods resides. Country of origin: The country in which the goods imported to Israel were produced. Country of last known destination (formerly: country of destination of exported goods): The last country - as far as it is known at the time of exportation - to which goods are to be delivered, irrespective of where they have been initially dispatched to and whether or not, on their way to that last country, they are subject to any commercial transactions or other operations which change their legal status. INDICES OF VALUE PRICES AND VOLUME Value indices: Measure the changes in the value of imports and exports between two periods (without weighting). Exchange conditions measure the change in average export prices, relative to average import prices between two periods. Price indices: Measure the change which occurred in the average price of total imports, of total exports, or of a group of goods, between two periods. The price of a single good is determined according to the average unit value of the exported or imported good. The definition of goods is based on the classification used for customs tariffs (imports) and on the Classification of Export Goods Made in Israel. In these classifications, groups of goods do not always specify single items of a uniform quality, but may also specify groups of similar goods. In some cases, the changes obtained in the price of the good, as it is defined in the classification, (138) may also reflect changes in the various components of the group of goods. In such cases, price indices of similar goods which are published abroad are used as a substitute for the average unit value. The information used to estimate price indices of foreign trade encompasses about 80% of the total import or export value. Once a year, the selection of items used for calculating the indices is checked and updated. Indices are calculated on the basis of the previous year and are chained and presented in this publication on the basis of the average for Foreign trade price indices were calculated according to the Fisher formula, i.e., as a geometrical mean of the indices according to the Laspeyres and Paasche formulas. Volume indices: Measure the quantitative changes which occurred between two periods in the total for imports and exports or total for a group of goods. The calculation of volume indices is also based on the Fisher formula. Quarterly price and volume indices according to the Fisher formula are published in the Foreign Trade Statistics Monthly (Internet only). IMPORTS OF GOODS Imports are recorded according to the special trade system, representing total of imports passing directly through customs (including those for exchange and repair), or withdrawals from bonded warehouses. Goods are considered imported when they are released by the customs authorities. Their release date determines the date of import. Imports of goods: The value of goods which add to the stock of material resources of a country by entering its economic territory. Goods simply being transported through a country (goods in transit) or temporarily admitted do not add to the stock of material resources of a country and are not included in the value of imports. Gross imports: Refers to the value of the flow of imported goods released by customs. Net imports: Refers to the value of flow of goods imported to Israel after deduction of returned imports. Unless otherwise stated, the data for imports refer to gross imports, i.e., imports without deduction of returned imports. Returned imports of goods: The value of goods imported to Israel and subsequently

4 returned abroad without any further processing. Average payment by the importer in Israeli currency per US Dollar: Refers to all the importer s expenses on imports, in NIS, on delivery from customs (i.e., the CIF (Cost, Insurance and Freight) import value in NIS plus the taxes imposed on these imports), divided by the CIF value of imports in US dollars. Taxes on imports include only those taxes which were imposed on the importer upon the delivery of the goods from customs: customs duty, compulsory payments and purchase tax, not including Value Added Tax. Total imports include, among other things: Personal effects of immigrants; personal effects imported by tourists and not taken out of the country again; estimated value of gifts received by mail, ships and aircraft; nonmonetary gold and silver; shipments of goods returned after their import and received again from abroad. Total imports do not include: Returned shipments of equipment to local firms from other countries after use in contract work; import into bonded warehouses; fuelling of ships and aircraft abroad; other goods (such as food); ballast and dunnage supplied to Israeli ships and aircraft abroad; import of currency of legal tender; military equipment and weapons (the estimated value being included in the goods account in the balance of payments). EXPORTS OF GOODS Since March 1982, the date of statistical recording of exports is the date of the loading of the goods. From November 1962 until February 1982, the date of statistical recording of exports was the date of releasing the export entries by the customs authorities. Exports of goods: The value of goods which leave the domestic territory of a country, and thus decrease its stock of material resources. Goods simply being transported through a country (goods in transit) or temporarily sent from it are not included in the value of exports. The domestic territory of a country is the territory administered by a government, including territorial enclaves in the rest of the world, and any free zones or bonded warehouses or factories operated by offshore enterprises under customs control. (139) Gross exports are defined as the gross value of outflow of goods from Israel whether they were totally or partially manufactured in the country, and whether they were imported to Israel and sold abroad without further processing. Goods in the latter category include such items as polished diamonds, imported to complete the collection of gems offered for sale by Israel's manufacturers; aircraft and ships manufactured in other countries, imported and later sold after use. Since a considerable proportion of fresh agricultural produce is generally exported on a consignment basis, the values declared to the customs authorities upon shipment do not always represent the final sales value of the produce. Since the 1991/92 agricultural export season, when the Board of Citrus Marketing was dissolved, exports have been transferred to other companies. Consequently, most shipments arrive in Belgium, where they are bought by various agents, and so there is no information about the country of final destination. Also, the sale of flowers through the flower exchange is registered as exports to the Netherlands and cannot be classified by country of final destination. Net exports are gross exports less returned exports. Returned exports of goods: The value of exported goods returned from abroad (without further processing). Unless otherwise specified, all of the data on exports refer to gross exports, i.e., exports without deduction of returned exports. Total exports include among other things: personal effects which were exported by emigrants who left Israel; fuel and food supplied to foreign ships and aircraft in Israeli seaports and airports; the estimated value of gifts sent by mail; ships and aircraft. Since 1990, sales of unworked diamonds to foreign countries are recorded as exports, whereas they were previously recorded as returned exports and subtracted from the data on imports. Total exports do not include: Shipments of engines and parts of aircraft by local firms to their branches or representatives abroad; shipments of imported goods that were returned for purposes of exchange, repairs, etc. These shipments appear under the heading Returned Imports; exports from

5 bonded warehouses; export of currency of legal tender. As of Statistical Abstract 2001, data on exports of software were deducted from trade in goods, because they are defined as services. SOURCES OF DATA The sources of the data are the forms submitted to the customs authorities by importers or exporters or their agents (import and export entries). In special cases, data are derived from administrative summaries prepared by various institutions (as in cases of ship and aircraft records). EXPORTS OF GOODS AND SERVICES, BY INDUSTRY OF EXPORTER (Table 16.14) The table lists all of the export activities in the economy, by industry of the exporter. The industries are classified according to the Standard Classification of All Economic Activities 2011, Central Bureau of Statistics. A distinction is made between the distribution of exports of goods by industry in the foreign trade data, and the distribution of exports by the industry of the exporters, which is presented in this table. The foreign trade data are based on industries which are determined by the properties of the goods. In contrast, the industries of the exporters are based on the main economic activity of the exporting units. The division Banking and other financial institutions is according to the new international classification of the Balance of Payments (BPM6), financial intermediation services indirectly measured (FISIM) are included in banking and other financial institutions. Of the total exports of services, the following categories are not specified by industry: Goods sold abroad that do not pass over the country's borders net exports, tourism services, excluding expenditures for accommodation of tourists, and exports of services to the Palestinian Authority. OF SERVICES, BY TYPE OF SERVICE (Table 16.15) CLASSIFICATION OF SERVICES Classification of services is based on the Extended Balance of Payments Classification of Services (EBPOS) published in the Manual on Statistics of International Trade in Services 2002, the United Nations Statistics Division. The EBPOS classification includes several main groups of services, as follows: Freight and transportation services Tourism services Insurance services Government services Other business services Some of those categories are divided into additional sub-categories. The main division of types of services is in the category other business services. Those services are the main exports of Israeli services, including: computer and related services, research and development services, technical services, telecommunications services, royalties and licence fees, business and management consulting, advertising services, legal services, accounting services, etc. The definitions of these categories are uniform with regard to exports and imports of services. The data for 2011 and 2012 are a preliminary estimate, based on cross-tabulation of data on exports and imports by industry for the estimated years, with data on the distribution by categories that are available from the results of the last annual survey that was conducted. These preliminary data are updated every year, according to summaries of the findings of new surveys. Exports of R&D services (as part of exports of other business services) include also exports of services for sale of start-up companies abroad, in cases where those sales include transfer of intangible services abroad. SOURCES OF THE DATA The source of the data is a sample survey of "International Trade in Services", conducted annually by the Central Bureau of Statistics. (140)

6 OF BUSINESS SERVICES, BY COUNTRY (Table 16.16) The imports and exports of other business services (computer and related services, research and development services, technical services, telecommunications services, royalties and licence fees, business and management consulting, advertising services, legal services, accounting services, etc.) are listed in the table by country. This distribution is based on the results of annual surveys conducted by the CBS on International Trade in Services. The data from the past two years are a preliminary estimate, based on cross-tabulation of data on imports and exports by industries for the estimated years, with data on the distribution by countries, which are available from the results of the last annual survey that was conducted. These preliminary data are updated every year, according to summaries of the findings of new surveys. (141)

7 SELECTED PUBLICATIONS SPECIAL PUBLICATIONS 952 Import Destinations Survey 1988 Import Destinations Survey 2006 (Internet only) Imports, by commodities and countries, annual data (CD only) Imports and Exports, by commodities and countries, annual data (Internet only) Exports, by commodities and countries, annual data (Internet only) (142)

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