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Summary overview of the Overseas Trade Statistics (OTS)

Summary overview of the Overseas Trade Statistics (OTS). Published by: HM Revenue & Customs – Trade Statistics Cust. Services: 01702 367485 E-mail: uktradeinfo@hmrc.gsi.gov.uk Website: www.uktradeinfo.com June 2011. Background – What is the OTS?.

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Summary overview of the Overseas Trade Statistics (OTS)

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  1. Summary overview of the Overseas Trade Statistics (OTS) Published by: HM Revenue & Customs – Trade Statistics Cust. Services: 01702 367485 E-mail: uktradeinfo@hmrc.gsi.gov.uk Website: www.uktradeinfo.com June 2011

  2. Background – What is the OTS? The Overseas Trade Statistics (OTS) are a detailed dataset covering the UK's Trade in goods with other Nations. • The OTS :- • are published by partner country and product level • detail UK imports and exports, for both EU and non-EU trade • are released monthly, quarterly and annually • provide information on over 9,000 different commodities and around 230 partner countries • provide information on the value, netmass and number of goods traded • are classed as a National Statistics product

  3. Who uses the OTS? • Other Government Departments Trade statistics are compiled to serve the needs of many users, including: • Eurostat • (Directorate-General of the • European Commission) • International organisations i.e. Organisation for Economic Cooperation & Development (OECD) United Nations • Universities • Trade associations • Private individuals and businesses

  4. How is the Trade data collected? Trade statistics are collected mainly from two data sources. These two sources are split by trade with EU Member States, and trade with non-EU countries. • EU trade is collected via the Intrastat survey. This is a survey of VAT registered businesses that have the most trade with other EU Member States. HMRC calls imports from the EU ‘Arrivals’, and exports to the EU ‘Dispatches'. • Non-EU trade is collected via the Customs Handling of Import and Export Freight (CHIEF) system. This is an administrative data collection system for customs declarations.

  5. Are estimates used to improve data accuracy? The following estimates are made by HMRC to supplement the collected EU trade data: • To account for EU trade by businesses who do not make declarations as part of the Intrastat survey. This is called the ‘below threshold trade allocations’ (or BTTA). • To account for businesses who have failed to provide a declaration by the deadline. This is called the ‘non-response estimate’. • To account for non-declaration of arrivals associated with VAT fraud. This is called ‘missing trader intra Community VAT fraud’ (or MTIC). • For products where there is no need to declare the netmass. HMRC provides an estimate for these products where it has been omitted.

  6. What does the OTS record as ‘trade’? The OTS comprise all goods crossing the national boundary of the UK, including goods imported into and exported from Customs warehouses and free zones. • Monetary gold • Means of payment which are legal tender, and securities • Goods for temporary use (meeting specific conditions) • Trade by businesses not registered for VAT or trade by private persons (EU trade only) • goods supplied free of charge (e.g. advertising material and commercial samples) • There are however some exceptions which are excluded. These include amongst others:

  7. Is the OTS data checked before publication? • HMRC carries out extensive checking procedures as part of its data processing. • Auto corrections are built into HMRC computer systems to cope with certain common types of error. These are predominantly validation checks i.e. such as ensuring a valid country code has been declared • Credibility checks are performed on the trade data, focusing on value; and quantity data i.e. netmass or number of items • Credibility checking is a tool for ensuring that the detailed data obtained is realistic and viable • Local Compliance Intrastat Assurance Officers (IAOs) undertake visits to Intrastat businesses to assure quality of declarations

  8. How can I find out about the quality of OTS data? • A Quality Report is produced by the Trade Statistics unit on an annual basis • This contains quality measures and indicators for each of the following six quality dimensions: • Relevance • Accuracy • Timeliness & Punctuality • Accessibility & Clarity • Comparability • Coherence • Detailed information on all published trade data quality reports can be found from the following link: https://www.uktradeinfo.com/statistics/noneuoverseastrade/aboutoverseastradestatistics/pages/qualityassurance.aspx

  9. How do I find out more information? • For more details, and to access the complete detailed OTS methodology please click the link below: • https://www.uktradeinfo.com/Statistics/NonEUOverseasTrade/AboutOverseastradeStatistics/Documents/GSSMethodspaper_v6.0.pdf • To contact Customer Services: • UKtradeinfo Customer Services • Telephone no: 01702 367485 • Email:uktradeinfo@hmrc.gsi.gov.uk

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