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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: Departamento de Aduanas e Impuestos Especiales (Agencia Estatal de Administración Tributaria)

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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; and
  • currency.

30 April 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 (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’)
  • 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 since 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’)

In this regard, it should be noted that Spain uses customs declarations as the sole source of information for compiling TIC statistics. Threrefore, information on the additional currencies are provided.

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 UNK ‘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 2022 reference year.

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

The statistical population comprises all the legal or natural persons who have lodged a customs declaration with the Customs Authority of Spain within the year.

Spain

The reference period is generally the calendar month during which the customs declaration is accepted by the Customs Authority of Spain.

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

See item 13.1 ‘Accuracy - overall' of the related metadata ‘ext_tic - International trade in goods – trade by invoicing currency’ for more details.

For data transmission to Eurostat – Trade values in € 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.

For national dissemination - Trade values in € 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.

At national level:

Invoice currency is always provided in SAD as it is a compulsory variable. Invoice currency is one of the variables of our most detailed files that are disseminated in our website.

At European level:

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

TIC data are directly collected from customs declarations.

TIC data disseminated at national level

Monthly

 

TIC data 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.

From a methodological point of view, 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.

Breaks in the series are due to the changes in the composition of the EU area. In 2013 because of the Croatia's adhesion to the EU and in 2020 because of United Kingdom's withdrawal from the EU.