The 'trade balance' covers international transactions of 'goods' (exports and imports), which are recorded at market value on a free on board (FOB) basis. The trade balance comprises the five categories of general merchandise, goods for processing, repairs on goods, goods procured in ports by carriers, and non- monetary gold. However, transactions of non-monetary gold pertaining to investment in gold and gold savings accounts are excluded. (These are included in 'Capital and financial account'). Source data for the compilation of the trade balance consists of trade statistics. Trade statistics are compiled by the Ministry of Finance based on custom clearance documents. In trade statistics, imports are valued on a CIF (Cost, Insurance and Freight) basis, while exports are valued on a FOB (Free On Board) basis. To derive FOB values, imports are adjusted by deducting freight and insurance costs. Trade statistics are further adjusted for scope and time of recording before being used to derive the trade balance.