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Imports And Exports Values (Basis)

Volume 414: debated on Monday 15 October 1945

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asked the President of the Board or Trade whether the value shown in the financial statistics regarding the import and export trade of the United Kingdom are in all cases c.i.f. values, or on what basis they have been computed; and whether he will arrange in future issues of these statistics that they will be calculated on this basis so that all concerned know how to use the figures.

The value of imports is the open market value as defined by Section 10 of the Finance Act, 1935. This corresponds to the c.i.f. value, with the addition of landing charges. For exports, values are f.o.b. If exports were to be valued c.i.f. it would lead both to inaccuracy and delay in the preparation of the statistics.