Goods and services, imports and exports

Exports of goods and services consist of transactions in goods and services (sales, barter, and gifts) from residents to non-residents. Imports of goods and services consist of transactions in goods and services (purchases, barter, and gifts) from non-residents to residents. Imports and exports of goods occur when economic ownership of goods changes between residents and non-residents. This applies irrespective of corresponding physical movements of goods across frontiers.