Preferential Trade Area Countries: Trade Turnover, Compensable Trade, and Net Balance to Settle, 1979
(In millions of U.S. dollars)
|Net Trade Balance|
Compensable trade is defined as two times the value of exports or imports, whichever is lower, and represents trade flows that cancel each other and do not require settlement in convertible currencies.
Sum of the absolute values of deficits and surpluses.
The sum of regional trade surpluses is less than the sum of trade deficits because imports are reported CIF and exports are reported FOB and because of timing differences.