Statistics Denmark

External Economy

International trade in goods statistics (ITGS) published by Eurostat measure the value and quantity of goods traded between the EU Member States (intra-EU trade) and goods traded by the EU Member States with non-EU countries (extra-EU trade). ‘Goods’ means all movable property including electricity. ‘European’ means that the statistics are compiled on the basis of the concepts and definitions set out in EU legislation.

Trade by invoicing currency (TIC) data are part of the information available for extra-EU trade. The invoicing currency is the currency in which the commercial invoice is drawn up. Data by invoicing currency can be used for instance to explore the use of the euro in the EU’s international trade, to compare it with the role of the United States dollar (USD) or to analyse the role of the euro in the euro area and in the EU. These statistics are very useful to central banks, including the European Central Bank, for comparing the euro with other major international currencies. These data are also used by financial market segments or foreign investors.

Statistical dimensions available for TIC data:

• reporting country;
• partner country;
• reference period;
• trade flows;
• product; and
• currency.

Product classification

The Standard International Trade Classification (SITC) is managed by the United Nations and correlated with the subheadings of the Harmonised System. SITC Rev. 4 comprises 2 970 basing headings which are aggregated into 262 groups, 67 divisions and 10 sections. TIC data are based on the section level complemented by the division 33 ‘oil”.

Country classification

The ‘Nomenclature of countries and territories for the external trade statistics of the Union and statistics of trade between Member States’, known as the ‘Geonomenclature’, is used to collect detailed statistics on exchanges of goods. TIC data are only disseminated at an aggregated partner level: partner ‘extra-EU’ for TIC data reported by the EU Member States and partner ‘world’ for the TIC data reported by the EFTA and enlargement countries. See the publication Geonomenclature applicable to European statistics on international trade in goods for more information (https://ec.europa.eu/eurostat/web/international-trade-in-goods/publications#methotherpub).

The scope of TIC data is the same as for monthly detailed data on extra-EU trade in goods. They cover all goods entering (imports) or leaving (exports) the national statistical territory and for which the trading partner is a non-EU country. 

As ITGS in general, TIC data cover all sectors of the economy.

Reporting country – Except for some specific goods like vessels and aircraft, ITGS follow the physical movements of the goods. An import is recorded when goods enter the statistical territory and an export when goods leave that territory except if those goods are in simple transit.

Partner country – At detailed level, this is the last known country of destination for exports and the country of origin for imports. However individual partner countries are not kept in the dissemination of data by invoicing currency. They are replaced by the partner area  ‘extra-EU’.

Product – Goods are primarily classified by commodity code as set out in the EU Combined Nomenclature. TIC data are compiled on the basis of a correspondence table enabling the transposition of detailed data collected according to the Combined Nomenclature into the Standard International Trade Classification (SITC). TIC data are available by three product groups: Raw materials without oil (SITC sections 0-4, excluding division 33), Oil (SITC division 33) and Manufactured products (SITC sections 5-8). Additionally, since 2022 reference period, TIC data are available also by 10 individual SITC sections.

Currency – The invoicing currency is the currency in which the commercial invoice is drawn up. Its definition is provided by the customs legislation. The following invoicing currencies or groups of currencies are considered for data transmission to Eurostat:

Common currencies to be reported whatever the data source used:

• Euro (‘EUR’)
• National currency of the reporting country
• UK pound sterling (‘GBP’)
• US dollar (‘USD’)
• National currencies of non-euro area Member States (‘XU3’)
• Other not specified currencies (‘_X’)
• Unknown currency (‘_U’)
• Total ‘_T’

Additional invoicing currency breakdown if the data source is the customs declaration:

• Brazilian real (‘BRL’)
• Canadian dollar (‘CAD’)
• Swiss franc (‘CHF’)
• Chinese yuan renminbi (‘CNY’)
• Indian rupee (‘INR’)
• Japanese yen (‘JPY’)
• South Korean won (‘KRW’)
• Mexican peso (‘MXN’)
• Norwegian krone (‘NOK’)
• Russian rouble (‘RUB’)
• Singapore dollar (‘SGD’)
• Turkish lira (‘TRY’)

Note on ‘unknown’ currency: Trade for which the currency is unknown is distributed over the individual currencies or groups of currencies proportionally to their relative share if it is known that such a distribution will not skew the data in a too significant extent. Otherwise, the code UNK ‘Unknown’ is used.

The set of collected currencies has been evolving over time. Initially, only 5 currencies were compiled (EUR, USD, _X, XU3 and _T). Since 2020 reference year, _U currency was added. The full set mentioned above has been compiled only since 2022 reference year.

The statistical unit is any natural and legal person lodging a customs declaration in Estonia on the condition that the customs procedure is of statistical relevance.

The statistical population comprise all the legal or natural persons who lodged a customs declaration with the National Customs Authority of Denmark.

Denmark

TIC data disseminated by Eurostat

See document TIC Quality indicators.

TIC data disseminated at national level

TIC is not disseminated at national level in Denmark.

Not applicable.

For data transmission to Eurostat – Trade values (in national currency units) by invoicing currency. The value of traded goods is calculated at the national frontier, on a FOB (free on board) basis for exports and a CIF (cost, insurance, freight) basis for imports. Hence, only incidental expenses (freight, insurance) are included and they are incurred for:

• exports in the part of the journey located on the territory of the country where the goods are exported from;
• imports in the part of the journey located outside the territory of the country where the goods are imported to.

For data dissemination on Eurostat website – Share of each invoicing currency in extra-EU imports and exports.

Theoretically, the reference period for the information on international trade in goods transactions should be the calendar month of export or import of the goods. However, in practice the reference period is generally the calendar month during which the customs declaration is accepted by the National Customs Authority of Denmark.

The reference years for which TIC data are disseminated result from the aggregation of monthly figures from January to December.

General statistical legislation

Regulation (EC) No 223/2009 of the European Parliament and of the Council on European statistics

Legislation applicable as of 1 January 2022

Regulation (EU) 2019/2152 on European business statistics

• Implementing Regulation (EU) 2020/1197 laying down technical specifications and arrangements pursuant to Regulation (EU) 2019/2152

• Implementing Regulation (EU) 2021/1225 specifying the arrangements for the data exchanges and amending Implementing Regulation (EU) 2020/1197, as regards the Member State of extra-Union export and the obligations of reporting units

• Delegated Regulation (EU) 2021/1704 further specifying the details for the statistical information to be provided by tax and customs authorities and amending Annexes V and VI of Regulation (EU) 2019/2152

Extra-EU trade legislation (or Extrastat) - legislation applicable up to 1 January 2022

Basic Act: Regulation (EC) No 471/2009 of the European Parliament and of the Council

• Implementing Commission Regulation (EC) No 92/2010

• Implementing Commission Regulation (EC) No 113/2010

All regulations relevant for the European statistics on international trade in goods can be found in the publication Legislation on European statistics on international trade in goods or consulted from the Legislation page of the International trade in goods section on Eurostat website. All legal texts of the EU are accessible on Eur-Lex.

Not applicable.

In principle data by invoicing currency are not detailed enough to make it possible to identify a specific trader. They are therefore free for publication. However the inclusion since reference period 2022 of additional detailed product categories and individual invoicing currencies might make it possible to identify individual traders. In such a case, the release of confidential data is prevented upon request from the involved traders.

For reference period 2022, cells which would make it possible to identify individual traders due to the additional level of detail in the dataset compared to previous years are suppressed in case the involved traders have requested this. 

See item 8.1 ‘Release calendar’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency (TIC)’ for more details.

See item 8.2 ‘Release calendar access’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See item 8.3 ‘Release policy - user access’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See item 9 ‘Frequency of dissemination’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See item 10.1 ‘Dissemination format - News release’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See item 10.2 ‘Dissemination format - Publications’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See item 10.3 ‘Dissemination format - online database’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See document TIC Quality indicators.

Not applicable.

Not applicable.

See document TIC Quality indicators.

See item 10.6 ‘Documentation on methodology' of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

100%

See item 10.7 ‘Quality management - documentation’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

TIC is complied based on ITGS data. ITGS data are validated through checks against code lists and outlier detection checks. The final datasets are therefore complete and error-free, and all possible extreme values (outliers) with significant impact on the statistical aggregates are either corrected or confirmed. 

See item 11.2 ‘Quality management - assessment' of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See item 12.1 ‘Relevance - User Needs’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See item 12.2 ‘Relevance - User Satisfaction’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See item 12.3 ‘Completeness’ of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

See document TIC Quality indicators.

TIC is based on customs declarations and a full count of certain transactions related to vessels and aircraft not covered by customs delcarations. The accuracy is expected to be high.

Not applicable as TIC is based on a full count of relevant transactions.

Not applicable.

The accuracy of TIC data depends mainly on the quality of the underlying customs declarations. Given the administrative importance of the customs declarations, the quality is expected to be high and the non-sampling error of the TIC dataset to be small. However, for currencies with little trade, mistakes in the reporting of the currency may impact the statistical results.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

See concepts 14.1.1 and 14.1.2.

See document TIC Quality indicators.

Not applicable.

See concept 14.2.1 for the time lag between the actual delivery of the TIC data and the target date when it should have been delivered.

See document TIC Quality indicators.

The comparability across countries is ensured by the implementation of the concepts and definitions set up by the EU legislation and by the application of the complementary guidelines provided by the European business statistics compilers' manual for international trade in goods.

Not applicable.

The introduction of more detailed currency and product breakdowns from refernece period 2022 creates a data break at the most detailed level of publication. At a more aggregate level , other changes in definitions, classifications, coverage or methods will have an impact on the continuity of the time series. The most significant change came with the recent Regulation (EU) 2019/2152 on European business statistics, which is applicable from reference period 2022. However, these changes are not expected to impact the comparability of the data series in a significant way. 

The introduction of more detailed currency and product breakdowns from reference period 2022 creates a data break at the most detailed level of publication. At a more aggregate level, time series from 2010-2022 are comparable.

Apart from the TIC dataset, information on trade flows can be found in the aggregated and detailed trade in goods statistics. TIC is fully coherent with both these datasets.

Not applicable.

Not applicable.

The internal coherence of the TIC dataset is ensured by the intra-dataset checks carried out at national and European levels before any data dissemination. See item 18.4 ‘Data validation’ for more details.

TIC data are derived from information collected via customs declarations and a survey on vessels and aircraft carried out for the prodcution of the underlying ITGS data. Therefore, no specific data collection is necessary for TIC, which means that the burden is null for the respondents, i.e. for the trade operators. The cost of TIC data only relates to the compilation step carried out by the National Statistical Authorities.

The ITGS data on which TTC is based are revised according to the ITGS revision policy. There is no specific revision policy for TIC.

TIC are revised only in exceptional cases where revisions in the underlying ITGS data justify it.

Not available.

TIC data are derived from the combination of two types of information:

• Trade in goods transactions collected via customs declarations; and
• A special survey on transactions in vessels and aircraft not covered by customs declarations.

Collection of data from customs declarations: daily

Collection of data on vessels and aircraft: monthly

Collection of trade in goods data

The major source of information on trade transactions is the customs declaration submitted by businesses and, in some cases, by private individuals involved in an international transaction of goods with a non-EU country. Customs declarations are transmitted from Customs Authorities to Statistics Denmark on a daily basis. Moreover, Statistics Denmark collects data on transactions in vessels and aircraft not covered by customs declarations in a dedicated survey.

TIC data disseminated by Eurostat have passed the following quality checks:

• Intra-dataset checks: completeness of the dataset and uniqueness of the records, validity of the codes, validity of code combinations across the different dimensions, inter-record consistency checks;
• Intra-domain check: check of the coherence between trade values published in the TIC dataset and trade values coming from aggregated and detailed trade in goods data.

On a national level, Statistics Denmark checks data for completeness and corrects absolute errors (non-valid codes etc.) Moreover, plausibilty checks are carried out to idenitfy outliers in the data which will have a major impact on the statistical results. When relevant, manual data validation is carried out through company contact for selected transactions.

At national level:

TIC data is compiled based mainly on customs declarations. Data are aggregated to the publication level based on correspondence tables between the CN8/Taric product codes reported in the customs declararations and the SITC codes used for TIC. Moreover, the reported currencies are aggregated to the required level. Transactions are included or excluded based on the customs procedure codes to ensure a coverage corresponding the the special trade system. 

At European level:

The share of each invoicing currency in the imports and exports of the reporting country is calculated on the basis of the transmitted trade values. Additionally, Eurostat derives TIC data for the EU and the euro area as reporting entities by aggregating the trade values reported by the Member States.

At national level:

For import transactions reported with a simplicfed goods code (i.e. "unspecified goods"), a real CN8 code is imputed, which in turn is used for aggregation to SITC codes. Apart from that, no other imputations are done.

At European level:

No imputation is made by Eurostat.

Not applicable.

Not applicable.