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Economic Calendar Terms

GB Trade Balance GBP

ONS - Office for National Statistics
Office for National Statistics
Cardiff Road
Newport
NP10 8XG
44–0–845–601–3034

ONS series ID: BOKI. Exports free on board (f.o.b.) and Imports cost insurance freight (c.i.f.) are, in general, customs statistics reported under the general trade statistics according to the recommendations of the UN International Trade Statistics. For some countries Imports are reported as f.o.b. instead of c.i.f. which is generally accepted. When reporting Imports as f.o.b. you will have the effect of reducing the value of Imports by the amount of the cost of insurance and freight. The trade statistics comprise all merchandise crossing the national boundary of the UK including goods imported into and exported from Customs warehouses and free zones.