The OECD defines International Trade as:
The two main data items used in the concept of international trade are imports and exports.
Imports of goods measures the value of goods that enter the domestic territory of a country irrespective of their final destination. They are valued on a free-on-board basis.
Exports of goods similarly measures the value of goods which leave the domestic territory of a country, irrespective of whether they have been processed in the domestic territory or not. They are valued on a cost-including-freight basis.
Imports (and exports) of services reflect the value of services provided to residents of other countries (or received by residents of the domestic territory).
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