Q: I was wondering if you could explain how the “trade value” figure on the COMTRADE database is arrived at. Is it simply the value of the goods traded or does it also include freight and insurance?

A: VALUATION: It is recommended that import values be recorded as CIF-type values and export values as FOB-type values.

CIF-type values include the transaction value of the goods, the value of services performed to deliver goods to the border of the exporting country, and the value of the services performed to deliver the goods from the border of the exporting country to the border of the importing country.

FOB-type values include the transaction value of the goods and the value of services performed to deliver goods to the border of the exporting country.

However, several countries do not follow this recommendation. You can obtain specific information about the countries and their practices in the International Merchandise Trade Statistics National Compilation and Reporting Practices URL below: https://comtrade.un.org/survey/Reports/byCountry

Q: For some datasets, even though import data is available ([flowCode]=M), [cifValue] is missing. It is confusing, as I thought import data is reported as [cifValue], not [fobValue]. Why is this the case? 

A: Not every country reports/compiles the import data in CIF. Mexico and Canada compile in FOB (it depends on the national statistical law, etc.). The detailed information should be captured in the metadata. You can view the metadata for every reported dataset here https://comtradeplus.un.org/PublicationNotes

To simplify, the [primaryValue] would prioritize the CIF-type values and then FOB-type values if both are reported. Otherwise, it will take one of them.

The CIF and FOB values differ because FOB does not include freight and insurance. Users should take this into account when analyzing the data.