Term:
International trade
Definition:
The two main data items used in the concept of international trade are imports and exports.
Imports of goods measures the value of goods that enter the domestic territory of a country irrespective of their final destination.
Exports of goods similarly measures the value of goods which leave the domestic territory of a country, irrespective of whether they have been processed in the domestic territory or not.
Imports (and exports) of services reflect the value of services provided to residents of other countries (or received by residents of the domestic territory)
Domain:
International Trade
Source:
OECD glossary