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Border effect

Border effects refer to asymmetries in trade patterns between cities and regions of different countries that share a national border and those that are located in the same country. Usually, trade volume is much lesser between the former cities an ...

Broad Economic Categories

The Broad Economic Categories is a three-digit classification, which groups transportable goods according to their main end use. It is most often used for the general economic analysis of international merchandise trade data. The BEC system is de ...

Bunker adjustment factor

Bunker adjustment factor, bunker surcharge or BAF refers to floating part of sea freight charges which represents additions due to oil prices. BAF charges used to be determined by Carrier Conferences to be applicable for a certain period on a cer ...

Capital account

In macroeconomics and international finance, the capital account is one of two primary components of the balance of payments, the other being the current account. Whereas the current account reflects a nations net income, the capital account refl ...

Combined Nomenclature

Council Regulation No 2658/87 of 23 July 1987, creates the goods nomenclature called the Combined Nomenclature, or in abbreviated form CN, established to meet, at one and the same time, the requirements both of the Common Customs Tariff and of th ...

Cross-border cooperation

Cross-border cooperation is the collaboration between adjacent areas across borders. In the European Union this is one of the forms of territorial cooperation. The European model is very diverse with cooperation between border regions or municipa ...

Data pool

Gateway data pool to access the GDSN network, where all the necessary information to perform business transactions between trading partners are exchanged in a standardized form. A database is a common point in the communication between trading pa ...

Dedollarisation

Dedollarisation is a process of substituting US dollar as the currency used for: Bilateral trade agreements Dollar-denominated assets Trading oil and/ or other commodities see Petrodollar Buying US dollars for the forex reserves Since the establi ...

Economic integration

Economic integration is the unification of economic policies between different states, through the partial or full abolition of tariff and non-tariff restrictions on trade. The trade-stimulation effects intended by means of economic integration a ...

Economic nationalism

Economic nationalism, or economic patriotism, economic populism, refers to an ideology that favors state interventionism over other market mechanisms, with policies such as domestic control of the economy, labor, and capital formation, even if th ...

Economics of coffee

Coffee is a popular beverage and an important commodity. Tens of millions of small producers in developing countries make their living growing coffee. Over 2.25 billion cups of coffee are consumed in the world every day. Over 90 percent of coffee ...

Business English

Business English is a part of English for specific purposes and can be considered a specialism within English language learning and teaching, or a variant of international English. Many non-native English speakers study the subject with the goal ...

Foreign Trade Review

Foreign Trade Review provides a forum for discussion on cross-border issues. These include, but are not limited to the following: international economics, international marketing, international finance, international logistics and international l ...

Geographical pricing

Geographical pricing, in marketing, is the practice of modifying a basic list price based on the geographical location of the buyer. It is intended to reflect the costs of shipping to different locations. There are several types of geographic pri ...

Grey market

A grey or gray market refers to the trade of a commodity through distribution channels that are not authorized by the original manufacturer or trade mark proprietor. Grey market products are products traded outside the authorized manufacturers ch ...

Intervention stocks

Intervention stocks refers to stocks held by national intervention agencies in the EU as a result of intervention buying of commodities subject to market price support. Intervention stocks may be released onto internal markets if internal prices ...

Intra-industry trade

Intra-industry trade refers to the exchange of similar products belonging to the same industry. The term is usually applied to international trade, where the same types of goods or services are both imported and exported.

Intrastat

Intrastat is the system for collecting information and producing statistics on the trade in goods between countries of the European Union. It began operation on 1 January 1993, when it replaced customs declarations as the source of trade statisti ...

Invisible balance

The invisible balance or balance of trade on services is that part of the balance of trade that refers to services and other products that do not result in the transfer of physical objects. Examples include consulting services, shipping services, ...

ISO 4217

ISO 4217 is a standard first published by International Organization for Standardization in 1978, which delineates currency designators, country codes, and references to minor units in three tables: Table A.2 – Current funds codes Table A.1 – Cur ...

Knock-down kit

A knock-down kit is a kit containing the parts needed to assemble a product. The parts are typically manufactured in one country or region, then exported to another country or region for final assembly. Variant names include knockdown kit, knocke ...

Licensed production

Licensed production is the production under license of technology developed elsewhere. It is an especially prominent commercial practice in developing nations, which often approach licensed production as a starting point for indigenous industrial ...

Live fish trade

The live fish trade can refer to the live food fish trade or to the ornamental fish trade. The fish can come from many places, but most comes from Southeast Asia. The live food fish trade is a global system that links fishing communities with mar ...

Market access

Market access describes the possibility of an enterprise or a country to sell their goods and services across borders and enter a foreign market. According to the World Trade Organization, "market access for goods in the WTO means the conditions, ...

Market price support

Market price support is an indicator, developed by the OECD, used in the calculation of Producer and Consumer Subsidy Equivalents. The PSE and CSE acronyms were changed en 1999 to Producer and Consumer Support Estimate. MPS is the annual monetary ...

Modalities (trade negotiations)

Modalities are the formulas, targets, or specific measures used to accomplish objectives in trade negotiations. An example of modalities in the current World Trade Organization agriculture negotiations would be a percentage phase-out over a speci ...

Monopolistic competition in international trade

Monopolistic competition models are used under the rubric of imperfect competition in International Economics. This model is a derivative of the monopolistic competition model that is part of basic economics. Here it is tailored to international ...

Multilateral trade negotiations

The term multilateral trade negotiations initially applied to negotiations between General Agreement on Tariffs and Trade member nations conducted under the auspices of the GATT and aimed at reducing tariff and nontariff trade barriers. In 1995 t ...

The Observatory of Economic Complexity

The Observatory of Economic Complexity is a data visualization site for international trade data created by the Macro Connections group at the MIT Media Lab. The goal of the observatory is to distribute international trade data in a visual form. ...

Open economy

An open economy is a type of economy where the domestic community and out have trade in products. Trade can take the form of managerial exchange, technology transfers, and all kinds of goods and services. It contrasts with a closed economy in whi ...

Residual supplier

A residual supplier is a country that supplies the world market only after importers have met their initial needs from preferred suppliers. A residual supplier is not initially competitive because of higher prices or lower quality.

Safe trade

Safe trade is a slogan advocated by Greenpeace in its desire to "green" the World Trade Organization and the Doha Development Round. It is designed to compete with "free trade" as a concept. Safe trade is generally seen as a single framework of r ...

Standard International Trade Classification

Standard International Trade Classification is a classification of goods used to classify the exports and imports of a country to enable comparing different countries and years. The classification system is maintained by the United Nations. The S ...

Standard trading conditions

Standard Trading Conditions are standardized terms imposed by some countries for accepting cargo by shipping lines, airlines and logistics services providers like freight forwarders and customs agents. They are usually printed as the fine print b ...

State trading enterprises

State trading enterprises are enterprises authorized to engage in trade that are owned, sanctioned, or otherwise supported by government. STEs are legitimate trading entities and are subject to GATT rules. Examples include the Canadian Wheat Boar ...

Tradable sector

The tradable sector of a countrys economy is made up of the industry sectors whose output in terms of goods and services are traded internationally, or could be traded internationally given a plausible variation in relative prices. Most commonly, ...

Trade barrier

Trade barriers are government-induced restrictions on international trade. Economists generally agree that trade barriers are detrimental and decrease overall economic efficiency; this can be explained by the theory of comparative advantage. Most ...

Trade commissioner

For the European Union post, see European Commissioner for Trade Trade commissioner is the title of a government official whose primary duties are to promote international trade agreements and export trade programs on behalf of a national or regi ...

Trade costs and facilitation

Trade Costs & Facilitation: The Development Dimension is an ongoing research project on trade facilitation reform carried out by the Development Economics Research Group of the World Bank. The project is focused on expanding knowledge about the r ...

Trade creation

Trade creation is an economic term related to international economics in which trade flows are redirected due to the formation of a free trade area or a customs union. The issue was firstly brought into discussion by Jacob Viner, together with th ...

Trade diversion

Trade diversion is an economic term related to international economics in which trade is diverted from a more efficient exporter towards a less efficient one by the formation of a free trade agreement or a customs union. Total cost of good become ...

Trade facilitation

Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives. Busines ...

Trade in the East African Community

Countries of the East African Community include Kenya, Tanzania, Burundi, Uganda, Rwanda, and South Sudan. These nations fall below par in different measures of economic activities such as GDP per capita, population below the poverty line, unempl ...

Trade mission

Trade mission is an international trip by government officials and businesspeople that is organized by agencies of national or provincial governments for purpose of exploring international business opportunities. Business people who attend trade ...

Trade office

A trade office, sometimes known as a trade representation, commercial office, or trade mission, is an official establishment that promotes the commercial interests of a government in a foreign capital. The head of such an establishment is typical ...

Trading nation

A trading nation is a country where international trade makes up a large percentage of its economy. Smaller nations by population tend to be more trade-dependent than larger ones. In 2008, the most trade-dependent OECD member was Luxembourg, wher ...

Visible balance

The visible trade balance is that part of the balance of trade figures that refers to international trade in physical goods, but not trade in services; it thus contrasts with the invisible balance. The balance is calculated as the value of visibl ...

World Integrated Trade Solution

The World Integrated Trade Solution is a trade software provided by the World Bank for users to query several international trade databases. WITS allows the user to query trade statistics from UN COMTRADE, tariff and non-tariff measures NTM data ...

Aripaev

Aripaev is an Estonian financial newspaper in tabloid format. It was founded in 1989 by Dagens Industri, a leading Swedish financial newspaper. The first issue of Aripaev was published on 9 October 1989. Until May 1992 Aripaev was published once ...

Business Times (Singapore)

The Business Times of Singapore is an English-language newspaper published since 1 October 1976. In 1 January 1994, it became the first English-language newspaper in Asia to launch an online news service called Business Times Online. It is part o ...