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International trade in goods - trade by invoicing currency (TIC) (ext_tic)

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National Reference Metadata in Single Integrated Metadata Structure (SIMS)

Compiling agency: The Statistical Office of the Slovak Republic (SOSR)

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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
  • currency

31 May 2025

Reporting country – Except for some specific goods like vessels and aircraft, ITGS follow the physical movements of the goods. A country should record an import when goods enter its 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 (SITC0, SITC1, SITC2, SITC3, SITC4, excluding division 33), Oil (SITC division 33) and Manufactured products (SITC5, SITC6, SITC7, SITC8, SITC9). Additionally, since 2021 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. Only the following currencies or groups of invoicing currencies are considered for data transmission to Eurostat:

  • Total (_T)
  • Euro (EUR),
  • UK pound sterling (GBP),
  • US dollar (USD),
  • national currencies of non-euro Member States (XU3),
  • 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)
  • Other not specified currencies (_X)
  • Unknown currency (_U)

Note on ‘unknown’ currency: Trade for which the currency is unknown should be distributed over the individual currencies or groups of currencies proportionally to their relative share except if it is known that such a distribution would skew the data in a too significant extent. In such a case, the code _U ‘Unknown’ could exceptionally be used.

The set of collected currencies has been evolving over time. Initially, only 5 currencies were collected (EUR, USD, _X, XU3 and _T). Since 2020 reference year, _U currency was added. The full set mentioned above has been collected only since 2021 reference year.

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

Importer/exporter may be a legal or natural person who lodge a customs declaration in Slovakia. So also non-resident economic operators are included in the population.

Slovakia. The statistical territory of Slovakia is the same as its economic territory.

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 Slovak National Customs Authority.

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

The accuracy of Slovak TIC data depends mainly on the accuracy of customs declarations data.

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.

At national level:

Slovak TIC data are based on detailed extra-EU trade data including imputed data for exports and imports of electricity. Slovak TIC data comprises all imports and exports declared on customs declarations for natural gas and when necessary the data are complemented by the imputed exports and imports. Records level data are supplemented by SITC codes assigned according to correspondence with the CN code. The aggregations are made following the defined structure.

At European level:

The share of each invoicing currency in the imports and exports of Slovakia is calculated on the basis of the transmitted trade values.

In general, Slovak TIC data are based on information reported on the customs declarations.
Moreover, the data on gross cross-border flows of electricity provided by transmission system operator are used to impute exports and imports of electricity. The transmission system operator data on physical flows of the natural gas crossing Slovak border and data from the storage operator may complement when necessary the data reported on customs declarations. The statistical value of the electricity and natural gas is estimated using unit values calculated from the data reported on customs declarations.

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

See concepts 14.1.1 and 14.1.2.

Slovak extra-EU trade is compiled in accordance with the special trade system, the relaxed definition following the EU legal provisions. So differences in the trade of those partner countries compiling their trade by general trade system may be observed. Further reasons for asymmetries are the time lag in recording transaction, different valuation, allocation of the trade to a Member State where the customs declaration is lodged, imputation method for extra-EU trade in electricity and natural gas.

In general, the Slovak TIC data are comparable over time.

Discontinuities may occur at the most detailed level for some commodities due to modifications of the compilation rules. The principle of recording aircraft in foreign trade statistics has changed (since 2010 based on a change in economic ownership) and the principle of compiling foreign trade in electricity (since 2010 based on the data from energy statistics). The compilation of foreign trade in natural gas in the gaseous state was also modified (since 2010 on the basis of information from the transit transmission system operator and storage operators).