Foreign trade data and indicators are important resources for many economic analysis. In particular, the Central Bank of the Republic of Türkiye uses these data for the calculation of balance of payments. Export data published by Turkish Statistical Office (TURKSTAT) are calculated according to free on board (FOB terms of delivery) and the import data are calculated according to the cost of goods, insurance and freight (CIF terms of delivery). In the balance of payments account calculated by the Central Bank, export and import is used by FOB terms of delivery. Therefore, imports data should be calculated according to FOB terms of delivery at the same time. However, international methodological studies have concluded that valuation using invoice values is more compatible with the concepts and definitions of the system of national accounts and the balance of payments, and therefore the use of invoice values is recommended. In line with international methodological recommendations, this study compares the import balance values calculated in terms of FOB and CIF terms of delivery with the values calculated in terms of invoice value and reveals the difference between them. For this comparison, import values to the member countries of the Organisation for Economic Co-operation and Development are taken into account.
| Published in | American Journal of Data Mining and Knowledge Discovery (Volume 10, Issue 1) |
| DOI | 10.11648/j.ajdmkd.20251001.12 |
| Page(s) | 21-36 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2025. Published by Science Publishing Group |
Outlier, Foreign Trade, Outlier Detection, FOB, CIF, Invoice Values
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APA Style
Kolbaşı, A. (2025). Comparing Imports in FOB, CIF Terms of Delivery and Invoice Values and an Example on the Member States of the Economic Cooperation Organization. American Journal of Data Mining and Knowledge Discovery, 10(1), 21-36. https://doi.org/10.11648/j.ajdmkd.20251001.12
ACS Style
Kolbaşı, A. Comparing Imports in FOB, CIF Terms of Delivery and Invoice Values and an Example on the Member States of the Economic Cooperation Organization. Am. J. Data Min. Knowl. Discov. 2025, 10(1), 21-36. doi: 10.11648/j.ajdmkd.20251001.12
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Download@article{10.11648/j.ajdmkd.20251001.12,
author = {Aylin Kolbaşı},
title = {Comparing Imports in FOB, CIF Terms of Delivery and Invoice Values and an Example on the Member States of the Economic Cooperation Organization
},
journal = {American Journal of Data Mining and Knowledge Discovery},
volume = {10},
number = {1},
pages = {21-36},
doi = {10.11648/j.ajdmkd.20251001.12},
url = {https://doi.org/10.11648/j.ajdmkd.20251001.12},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajdmkd.20251001.12},
abstract = {Foreign trade data and indicators are important resources for many economic analysis. In particular, the Central Bank of the Republic of Türkiye uses these data for the calculation of balance of payments. Export data published by Turkish Statistical Office (TURKSTAT) are calculated according to free on board (FOB terms of delivery) and the import data are calculated according to the cost of goods, insurance and freight (CIF terms of delivery). In the balance of payments account calculated by the Central Bank, export and import is used by FOB terms of delivery. Therefore, imports data should be calculated according to FOB terms of delivery at the same time. However, international methodological studies have concluded that valuation using invoice values is more compatible with the concepts and definitions of the system of national accounts and the balance of payments, and therefore the use of invoice values is recommended. In line with international methodological recommendations, this study compares the import balance values calculated in terms of FOB and CIF terms of delivery with the values calculated in terms of invoice value and reveals the difference between them. For this comparison, import values to the member countries of the Organisation for Economic Co-operation and Development are taken into account.
},
year = {2025}
}
TY - JOUR T1 - Comparing Imports in FOB, CIF Terms of Delivery and Invoice Values and an Example on the Member States of the Economic Cooperation Organization AU - Aylin Kolbaşı Y1 - 2025/04/29 PY - 2025 N1 - https://doi.org/10.11648/j.ajdmkd.20251001.12 DO - 10.11648/j.ajdmkd.20251001.12 T2 - American Journal of Data Mining and Knowledge Discovery JF - American Journal of Data Mining and Knowledge Discovery JO - American Journal of Data Mining and Knowledge Discovery SP - 21 EP - 36 PB - Science Publishing Group SN - 2578-7837 UR - https://doi.org/10.11648/j.ajdmkd.20251001.12 AB - Foreign trade data and indicators are important resources for many economic analysis. In particular, the Central Bank of the Republic of Türkiye uses these data for the calculation of balance of payments. Export data published by Turkish Statistical Office (TURKSTAT) are calculated according to free on board (FOB terms of delivery) and the import data are calculated according to the cost of goods, insurance and freight (CIF terms of delivery). In the balance of payments account calculated by the Central Bank, export and import is used by FOB terms of delivery. Therefore, imports data should be calculated according to FOB terms of delivery at the same time. However, international methodological studies have concluded that valuation using invoice values is more compatible with the concepts and definitions of the system of national accounts and the balance of payments, and therefore the use of invoice values is recommended. In line with international methodological recommendations, this study compares the import balance values calculated in terms of FOB and CIF terms of delivery with the values calculated in terms of invoice value and reveals the difference between them. For this comparison, import values to the member countries of the Organisation for Economic Co-operation and Development are taken into account. VL - 10 IS - 1 ER -
Turkish Statistical Institute, Ankara, Turkey
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