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Broad Economic Categories
{{unref, date=May 2018 The Broad Economic Categories (BEC) is a three-digit classification, which groups transportable goods according to their main end use. It is most often used for the general economic analysis of international merchandise trade data. The BEC system is defined in terms of the Standard International Trade Classification system. The original BEC was published in 1971, and revised in 1976, 1986 and most recently in 1988. The top level categories of the BEC are as follows: * BEC-1: Food and beverages * BEC-2: Industrial supplies not elsewhere specified * BEC-3: Fuels and lubricants * BEC-4: Capital goods (except transport equipment), and parts and accessories thereof * BEC-5: Transport equipment and parts and accessories thereof * BEC-6: Consumer goods not elsewhere specified * BEC-7: Goods not elsewhere specified In 2007 a fourth revision is under discussion, including a possible extension of the BEC to include tradable services. See also *Harmonized System *Standa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard International Trade Classification
Standard International Trade Classification (SITC) is a classification of goods used to classify the exports and imports of a country to enable comparing different countries and years. The classification system is maintained by the United Nations. The SITC classification, is currently at revision four, which was promulgated in 2006. The SITC is recommended only for analytical purposes - trade statistics are recommended to be collected and compiled in the Harmonized System instead. The following excerpt was taken from the United Nations Statistics Division, international trade statistics branch: "For compiling international trade statistics on all merchandise entering international trade, and to promote international comparability of international trade statistics. The commodity groupings of SITC reflect (a) the materials used in production, (b) the processing stage, (c) market practices and uses of the products, (d) the importance of the commodities in terms of world trade, and ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harmonized System
The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization based in Brussels, Belgium, with over 200 member countries. Structure The HS is organized logically by economic activity or component material. For example, animals and animal products are found in one section of the HS, while machinery and mechanical appliances are found in another. The HS is organized into 21 sections, which are subdivided into 99 chapters. The 99 HS chapters are further subdivided into 1,244 headings and 5224 subheadings. Section and Chapter titles describe broad categories of goods, while headings and subheadings describe products in more detail. Genera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Taxonomy
An economic taxonomy is a system of classification of economic activity, including products, companies and industries. Some economists believe that the study of economic policy demands the use of a taxonomic/classificatory approach. Industry taxonomies Industry taxonomies include international, regional and national taxonomies and proprietary taxonomies. Official statistics taxonomies The international and national taxonomies are used by official statistical agencies. United Nations provide its International Standard Industrial Classification (ISIC) as a base for establishing regional taxonomies: * North America North American Industry Classification System (NAICS) ** United States Standard Industrial Classification (SIC) * Europe Statistical classification of economic activities in the European Community (NACE) ** United Kingdom Standard Industrial Classification of Economic Activities ** Russian Economic Activities Classification System (OKVED) Proprietary taxonomies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Trade
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, scramble for Africa, Atlantic slave trade, salt roads), its economic, social, and political importance has been on the rise in recent centuries. Carrying out trade at an international level is a complex process when compared to domestic trade. When trade takes place between two or more states factors like currency, government policies, economy, judicial system, laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the World Trade Organization ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
