The conceptual framework which underpins Australia's export and import statistics on an international merchandise trade basis is consistent with the international standard set out in the United Nations (UN) publication International Merchandise Trade Statistics: Concepts and Definitions Series M, No. 52, Rev. 2.
The UN has updated the international standard for compiling international merchandise trade statistics. The new standard, International Merchandise Trade Statistics: Concepts and Definitions 2010 (IMTS 2010) is more consistent with the System of National Accounts 2008/Balance of Payments and International Investment Position Manual sixth edition which is the overarching framework for the compilation of macroeconomic statistics by the ABS. This paper explains the key conceptual changes and new recommendations included in IMTS 2010 in terms of Australia's statistics. The ABS position on each of the key conceptual changes is presented. Users of international merchandise trade statistics are encouraged to provide feedback on the ABS position and comments on how the changes may affect the usefulness of the statistics.
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