Source US Department of Commerce, Trade Policy Information System (on-line), Washington, DC, 1998.

This section presents data on US merchandise exports to and imports from the LAC region. Corresponding export and import tables reflect total trade, as well as trade in manufactures, capital and consumer goods, apparel, primary products, agricultural products, petroleum, gas, and coal. Tables 10.10 and 10.20 present data on the top commodities exported and imported by the US to the largest LAC markets.

The data in this section were compiled using SITC, Revision III, total exports (f.a.s) and imports for consumption (customs value) data. Standard international trade classification (SITC) is a statistical classification of the commodities entering external trade maintained by the United Nations. Exports measure the total physical movement of merchandise out of the United States to foreign countries, regardless of whether such merchandise is exported from within the US Customs territory of from a US Customs bonded warehouse or a US Foreign Trade Zone. This includes foreign military sales, Grant-Aid shipments under the DOD Military Assistance Program, shipments of agricultural commodities under P.L. 480 as amended, and satellites launched by US space vehicles. Imports for consumption measure total merchandise that has physically cleared Customs either entering

consumption channels immediately or entering after withdrawal for consumption from bonded warehouses under Customs custody or from Foreign Trade Zones. Free alongside ship (f.a.s.) value is the value of exports at the US seaport, airport, or border port of export, based on the transaction price, including inland freight, insurance, and other charges incurred in placing the merchandise alongside the carrier at the US port of exportation. The value, as defined, excludes the cost of loading the merchandise aboard the exporting carrier and also excludes freight, insurance, and any charges or transportation costs beyond the port of exportation. Customs import value is the value of imports as appraised by the US customs Service in accordance with the legal requirements of the Tariff Act of 1930, as amended. This is generally defined as the price actually paid or payable for merchandise when sold for exportation to the United States, excluding US import duties, freight, insurance, and other associated charges.

Each table presents data for 1987, and for 1990-1997. All figures are reported in thousands of current US dollars. Growth rates were calculated using formulas 1 and 2. Formula 1, used to calculate the annualized growth rate (1987-97) is a geometric mean statistical equation, based on end-points. Formula 2 was used to calculate the annual growth rate (1996-97). Formula 1: [((1997/1987)^(1/5))-1] x 100 = average annual growth for 1987-1997. Formula 2: [(1997-1996)/1996] x 100 = annual growth rate for 1997.

Total exports/imports include SITC codes 0 through 9 (all commodities).

Manufactured goods include SITC codes 5 (chemicals and related products), 6 (manufactured goods classified by material), 7 (machinery and transport equipment), and 8 (misc. manufactured goods).

Capital and consumer goods include SITC codes 7 (machinery and transport equipment) and 8 (misc. manufactured goods).

Apparel includes SITC code 84 (articles of apparel and clothing accessories).

Primary products include SITC codes 0 (food and live animals), 1 (beverages & tobacco), 2 (crude, inedible materials excluding fuel), 3 (mineral fuels and lubricants), and 4 (animal and vegetable oils, fats, and waxes).

Total agricultural products include SITC codes 0, 1, 4, 22 (agriculture food and live animals), 21, 23, 24, 25, 26, 29 (raw materials), 27, 56, 59, 72, 79 (agricultural inputs), 61, 62, 63, 64, 65 (agricultural processed goods).

Oil and petroleum products includes SITC code 33 (petroleum, petroleum products and related materials).

Natural gas includes SITC code 34 (gas, natural and manufactured).

Coal includes SITC code 32 (coal, coke and briquettes).

es and Definitions .

Source Direction of Trade Statistics, International Monetary Fund (IMF) Washington, DC, 1998.

This section presents data on total intra-regional LAC trade in merchandise goods (i.e. trade between LAC countries). Merchandise exports, as defined by the IMF, include all merchandise exported to another country, except goods transported through a territory (i.e. transit trade). Included are nonmonetary gold, government trade (including foreign aid programs), military goods, sales and purchases of electricity, gas, and water, postal items, and transactions representing a service installed on a support device (such as data on computer tape, movies on videotape, or film). In general, goods do not include improvement and repair trade, trade moving between countries and their diplomatic representatives abroad, and monetary transactions of gold securities, banknotes, and coins. Exports are valued on a free on board (f.o.b.) basis. F.o.b. valuation is the transaction value of merchandise at the frontier of the exporting country. All figures are reported in thousands of current US dollars.

These tables present export and import values for merchandise trade between the LAC region and other regions of the world. Coverage is for 1987-97. Each table lists trade for both the LAC region as a whole and for the USAID-presence countries in the LAC region. All figures are reported in thousands of current US dollars.

Each table lists values for exports of merchandise goods from an LAC country to

all other LAC countries, as well as exports to the United States, Europe, Japan, and the World. Coverage is for 1987, and 1990-1997. All figures are reported in thousands of current US dollars. The intra-regional table format differs form the format found throughout most of the LAC Databook. Each LAC sub-region (Caribbean, Central America and South America) is organized according to the trade/economic groups (e.g. CARICOM) that exist in the respective sub-regions. For instances in which a country does not belong to a trade group, it is assigned to an "other" category within its sub-region (e.g. "other caribbean"). Sub-regional trade groups and "other" category totals, shown in bold, are not included in sub-regional sums (unless the category is an individual country). Trade data for Cuba are incomplete. As estimates are made from partner country data, they do not cover trade in cases where no partner country data have been reported. Exports to the World represent a country's total exports.

Data Anomalies While the following values appear lower than expected, the data are listed as they appear in the source: Table 11.12 exports to Europe in 1993 and to Europe and the World in 1997; Table 11.14 exports to Europe and the World in 1997; Table 11.18 exports to Europe and the World in 1997; Table 11.24 exports to Brazil and Argentina; Table 11.27 exports to the United States and the World in 1996; Table 11.29 exports to the United States and the World in 1992 and 1994.

While the following values appear lower than expected, residual amounts seem to have been recorded in the LAC not specified category: Table 11.33 exports to many Caribbean and Central American countries in 1995 and 1997; Table 11.36 exports to many Caribbean and Central American countries in 1987, 1990-91, and 1996-97; Table 11.38 exports to the many Caribbean countries for all years except 1993.

Growth rates were calculated using formulas 1 and 2. Formula 1, used to calculate the annualized growth rate (1987-97) is a geometric mean statistical equation, based on end-points. Formula 2 was used to calculate the annual growth rate (1996-97). Formula 1: [((1997/1987)^(1/5))-1] x 100 = average annual growth for 1987-1997. Formula 2: [(1997-1996)/1996] x 100 = annual growth rate for 1997.

ALADI Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay, Venezuela.

Andean Pact Bolivia, Colombia, Ecuador, Peru, Venezuela.

CACM Costa Rica, El Salvador, Guatemala, Honduras.

CARICOM Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts & Nevis, St. Lucia, St. Vincent & Grenadines, Suriname, Trinidad & Tobago.

The Bahamas is a member of the Community but not the Common Market. Suriname, a member of CARICOM since 1995, was inadvertantly omitted from the CARICOM category. Values for Suriname should be added to "CARICOM" and subtracted from "Other Caribbean" in order to obtain accurate figures for these categories.

Europe Austria, Belgium-Luxembourg, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Netherlands, Norway, Portugal, San Marino, Spain, Sweden, Switzerland, United Kingdom.

Hispaniola Dominican Republic and Haiti.

MERCOSUR Argentina, Brazil, Paraguay, Uruguay.

Non-LAC counties All countries of the world except those located in Latin America or the Caribbean.

World All countries of the world (i.e. exports to the world reflect a country's total exports.