Data concepts and methods

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Concepts: Understanding export and import values, volumes and prices

Throughout this article, export and import values, volumes, and prices are discussed and thus, it is important to make clear the relationship between these three concepts.

Export values refer to total exports, and are the dollar value of Canada's merchandise sales to other countries. Export values can be broken down into two components: export prices and export volumes.

Export prices are the prices charged for the merchandise sold. Export volumes are export values adjusted for price, also known as real exports or constant dollar exports. Constant dollar exports are calculated using the Paasche Price indices.

While export values offer an indication of whether Canadian companies received more dollars or fewer dollars for their goods, export volumes offer an indication of quantity.

Similarly, import values are the dollar value of Canada's merchandise purchases from companies located in other countries. Import prices are the prices that Canadian companies pay to import these products. Import volumes, or constant dollar imports, are import values adjusted for price. Constant dollar imports are calculated using the Paasche Price indices.

Methods: Analyzing international merchandise trade data

Statistics Canada derives import trade data primarily from administrative records compiled by the Canada Border Services Agency (CBSA). Canadian exports to the United States are compiled using United States import statistics while exports to other destinations are compiled by the International Trade Division from documents (Export Declaration  - B13A) received via CBSA and from Summary Reports, Canadian Automated Export Declarations (CAED) and G7 Reports submitted directly to Statistics Canada.

This customs-based information undergoes certain adjustments in order to conform to the concepts and definitions of the Canadian System of National Accounts. The adjustments to derive balance of payments based trade data include valuation, residency, timing and coverage.

The principal difference between the two trade concepts is that customs-based merchandise trade statistics cover the physical movement of goods crossing international boundaries and affecting the material stocks of Canada as they are reflected on customs documents. Balance of payments data are intended to cover all economic transactions between residents and non-residents. While balance of payments-based data, which make up part of the current account, are more useful for those interested in macroeconomic issues, customs data provide a wealth of detail on specific commodities and trading partners.

Unless otherwise specified all trade values are on a balance of payment basis.  Trade data for individual countries are available on a customs basis.