FOREIGN TRADE

Charcoal – solid product obtained from the destructive distillation.

Balance of Trade - the difference between the export earnings and import
           payments of all goods or merchandise trade transacted by a country. 

Export - all goods leaving the country which are properly cleared through
          the Customs.

Free on Board (F.O.B.) Value - the value of the goods free on board the
         carrier at the frontier of the exporting country. It includes inland freight,
         export duty and other expenses. Ocean freight, insurance and consular
         fee are, however, excluded.

Import - all goods entering any of the seaports or airports of entry of the
         Philippines properly cleared through the Customs or remaining under
         Customs control, whether the goods are for direct consumption, for
         merchanting, for warehousing or for further processing.

Non-Traditional Exports - export goods whose value did not exceed
         US$5 million in 1968 and which have undergone a significant degree of
         processing.

Re-Exports - exports of imported goods which do not undergo physical
        and/or chemical transformation in the Philippines.

                                                                   Source : National Statistics Office

Domestic Export - export for goods grown, mined, cultured or
         manufactured in the Philippines. 

Traditional Exports - export goods whose value exceed US$5 million in
        1968 and which have undergone a significant degree of processing.

                                                               Source: Bangko Sentral ng Pilipinas

 Glossary of Terms    

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