Figure 4.1 Shares in total world exports, regions of the world and major exporters in the Asia and Pacific region, Asia and the Pacific 32.

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1 255 Globalization Snapshots The Asia and Pacific region accounted for about one-third of the world s merchandise exports. Subdued demand from major markets dampened export growth in Intraregional trade has increased and accounted for almost 56% of merchandise exports and 50% of imports in Services have become important contributors to exports in some economies. Migrant workers remittances are a major source of foreign exchange across the region. Over half the region s economies recorded current account deficits in 2011 and Net foreign direct investment (FDI) rose by just over 20% to $596 billion in Available data suggest inflows moderated in Key trends The region accounted for about one-third of global merchandise exports in 2012 (Figure 4.1). That represented an increase from about one-quarter of world exports in The People s Republic of China (PRC) was the biggest Asian exporter in 2012, with a share of 33.2% of total regional exports, followed by Japan (12.9%) and the Republic of Korea (8.9%). The region s share of global imports was 30.9% in Merchandise trade (exports plus imports) was equivalent to more than 100% of gross domestic product (GDP) in 12 regional economies (Table 4.12). The two open economies Hong Kong, China and Singapore top the list in this regard, with the sum of their exports and imports equal to 360% and 285% of GDP, respectively. Others where trade exceeded 100% of GDP were Brunei Darussalam; the Kyrgyz Republic; Figure 4.1 Shares in total world exports, regions of the world and major exporters in the Asia and Pacific region, 2012 Middle East 7.1 North and Central America 13.3 Africa 3.0 Rest of the world South America Asia and the Pacific 32.5 Japan 12.9 Korea, Rep. of 8.9 Hong Kong, China 7.2 Singapore 6.7 Europe 36.4 China, People's Rep. of 33.2 Others 31.1 Sources: Direction of Trade Statistics CD-ROM (IMF 2013) and Table 4.13.

2 256 Key Indicators for Asia and the Pacific 2013 Malaysia; Mongolia; Nauru; Solomon Islands; Taipei,China; Thailand; Turkmenistan; and Viet Nam. The average trade-to-gdp ratio for 35 developing members for which data are available for 2012 was 67%. Figure 4.2 Growth rates of merchandise exports, 2011 and 2012 (%) Tonga Kyrgyz Rep. Vanuatu Bhutan Papua New Guinea Maldives Mongolia Pakistan Sri Lanka Indonesia Uzbekistan Australia Japan India Taipei,China Korea, Rep. of New Zealand Malaysia Singapore Tuvalu Nepal Hong Kong, China Lao PDR Brunei Darussalam Thailand Kazakhstan Bangladesh Armenia Philippines China, People's Rep. of Tajikistan Georgia Afghanistan Fiji Cambodia Viet Nam Solomon Islands Turkmenistan Palau Nauru Samoa Cook Islands Lao PDR = Lao People s Democratic Republic. Source: Table 4.9. Growth in merchandise trade slowed sharply in Sluggish economic performances in major industrial economies and moderating expansion in the PRC and India dampened growth in Asia s merchandise trade. The value of total exports increased by just 1.4% in 2012, compared with annual average growth of 13.4% in United States (US) dollars between 2005 and Exports fell in nearly half the region s economies last year and decelerated in most of the rest (Figure 4.2). In the PRC, export growth subsided to 7.9% in 2012, from 20.3% in Major exporters Australia, India, Japan, the Republic of Korea, Malaysia, and Singapore all reported export declines. Similarly, merchandise imports rose by just 3.3% in 2012, compared with an average increase of 14.5% between 2005 and Factors behind this slowdown included softer regional economic growth in 2012, weakness in exports (manufactured exports require imported materials and components), and lower global prices for some commodities. Compared with 2011, import growth decelerated in 38 of 41 reporting economies, and imports fell in 7 others. Intraregional trade remained high, with 55.8% of regional exports shipped to markets within Asia and the Pacific in 2012 (Figure 4.3). That percentage climbed from 41.6% in 1990, the result of growth in regional economies during this period and the expansion of regional production networks, which manufacture products mainly for sale in major industrial countries. Figure 4.3 Destination of merchandise exports from the Asia and Pacific region, 2012 (%) Africa 2.6 South America 2.4 Middle East 4.9 North and Central America 16.2 Europe 15.2 Source: Table Rest of the world 3.0 Asia and the Pacific 55.8

3 Globalization 257 Between 1990 and 2012, Asian exports to Europe and North America together fell from 48.0% of the total to 31.4%. Major sources of Asian merchandise imports in 2012 were the region itself (49.7%), Europe (14.6%), Middle East (12.3%), and North and Central America (8.3%). Services have become important contributors to exports in some economies. Figure 4.4 shows economies in the region with the highest shares of services exports in GDP. Hong Kong, China and Singapore are centers of trade-oriented and financial services, while tourism plays an important role in most economies in the figure. Services exports as a percentage of GDP increased in 8 of the 10 economies between 2005 and 2011 (or the latest year). The importance of migrant workers remittances has increased in many economies. Remittances were equivalent to at least 5% of GDP in 12 economies in the region in 2012, double the number in These inflows support family incomes, bolster consumption, and contribute significantly to national current account balances. Economies heavily dependent on remittances are mostly in,, the Pacific, as well as in the Philippines and Viet Nam in. Figure 4.5 presents the top 10 economies in terms of remittances as a percentage of GDP. It shows very large increases in six of the economies between 2000 and In fact, remittances have increased in relation to GDP in 19 economies during this period, including the five most populous ones (Table 4.5). In 2012, growth in remittances in US dollars for the region as a whole decelerated to 7.3%, from 15.5% in In the 10 economies for which remittances are most significant, growth slowed in 6 and remittances fell in 2 in Bangladesh stood out with increased remittance inflows in each of the past 3 years, partly a result of better financial services and the placement of more Bangladeshi workers abroad Figure 4.4 Top 10 Asia and Pacific economies in services exports as share of GDP, 2005 and latest year Maldives Singapore Vanuatu Hong Kong, China Fiji Afghanistan Solomon Islands Kyrgyz Rep. Cambodia Georgia Figure 4.5 Top 10 Asia and Pacific economies: Workers remittances as share of GDP, 2000 (or nearest year) and latest year Tajikistan Kyrgyz Rep. Nepal Samoa Tonga Armenia Bangladesh Sri Lanka Philippines Georgia (or latest year) 2000 or nearest year Latest year GDP = gross domestic product. Sources: International Financial Statistics CD-ROM (IMF 2013); GDP and exchange rate data from Key Indicators 2013 country tables. GDP = gross domestic product. Source: Table 4.4.

4 258 Key Indicators for Asia and the Pacific 2013 More than half the regional economies recorded current account deficits in 2011 and In Figure 4.6, bars to the right are current account surpluses and bars to the left are deficits. Averaging the current account outcomes for 2011 and 2012 shows 26 economies with current account deficits. Mongolia reported the biggest Figure 4.6 Current account balance as share of GDP (average of latest 2 years) Brunei Darussalam Timor-Leste Azerbaijan Singapore Taipei,China Malaysia Uzbekistan Kazakhstan Korea, Rep. of Viet Nam Philippines Hong Kong, China Afghanistan Lao PDR Nepal China, People's Rep. of Turkmenistan Japan Thailand Bangladesh Pakistan Indonesia Myanmar Australia Fiji New Zealand India Solomon Islands Vanuatu Papua New Guinea Cambodia Sri Lanka Samoa Tajikistan Palau Armenia Georgia Kyrgyz Rep. Micronesia, Fed. States of Tuvalu Marshall Islands Bhutan Tonga Maldives Kiribati Mongolia deficit relative to the size of its economy, at 30.8% of GDP. Twenty economies reported current account surpluses, with oil and gas exporter Brunei Darussalam having the largest current account surplus as a percentage of GDP. In larger economies, the PRC s current account surplus declined from 10% of GDP in 2007 to about 2% in , reflecting progress on external rebalancing. Indonesia reported a current account deficit in 2012, its first since Deterioration in India s trade balance widened its current account deficit to about 4% of GDP in 2012, from 1% in In Mongolia and Papua New Guinea, high levels of investment in export-oriented resources projects contributed to drive current accounts into deficit. The large mining and infrastructure projects required costly imports of machinery and equipment. As the development phase of the projects ends and mineral production gets under way, imports are expected to level off and exports rise, paring back the current account deficits. Figure 4.7 shows the top economies in terms of tourism receipts as a percentage of GDP. islands and the Maldives filled the first six places. But in numbers of inbound tourists, the top three economies were the PRC (57.7 million), Malaysia (25.0 million), and Hong Kong, China (23.7 million), as shown in Table Figure 4.7 Top 10 Asia and Pacific economies: Tourism receipts as share of GDP (average of latest 3 years) Maldives Palau Cook Islands Vanuatu Fiji Samoa Cambodia Hong Kong, China Kyrgyz Rep. GDP = gross domestic product. Sources: Table 4.26; GDP and exchange rate data from Key Indicators 2013 country tables. Solomon Islands GDP = gross domestic product, Lao PDR = Lao People s Democratic Republic. Source: Table 4.3.

5 Globalization 259 Net FDI in the region rose by 20.2% to $596 billion in 2011, with increases in 65% of regional economies. Data for FDI in 2012, available for only 20 economies, indicates that inflows moderated. Net FDI inflows to the PRC eased to $253 billion in 2012 from $280 billion in 2011, when it represented 47% of the region s FDI. Figure 4.8 shows FDI as a percentage of GDP in 10 economies with high rates of FDI relative to economic output. In Mongolia, net FDI inflows, mainly into large mining projects, averaged 41.5% of GDP during By contrast, net FDI inflows were about 3.7% of GDP in the PRC in , despite the very large absolute amounts. External debt as a percentage of gross national income (GNI) fell in almost 70% of reporting economies between 2000 and In most economies, external debt was below 50% of GDP in 2011 (Table 4.21). Figure 4.9 shows the 10 economies with the highest total external debt to GNI in For Papua New Guinea, external debt rose to 101% of GNI in 2011 from 64% in 2010 and 23% in Debt service ratios, or total debt service payments as a percentage of total exports of goods and services, declined between 2000 and the latest year in most economies for which data are available (Table 4.24) Mongolia Figure 4.8 Top 10 Asia and Pacific economies: Foreign direct investment as share of GDP (average of latest 3 years) Hong Kong, China Singapore Solomon Islands GDP = gross domestic product. Source: Table 4.7. Turkmenistan Maldives Kyrgyz Rep. Cambodia Azerbaijan Kazakhstan Figure 4.9 External debt as share of GNI, 2010 and 2011 Papua New Guinea Lao PDR Georgia Kazakhstan Armenia Bhutan Samoa Tajikistan GNI = gross national income, Lao PDR = Lao People s Democratic Republic. Source: Table Data issues and comparability Maldives Viet Nam Most of the international transactions in this section are taken from balance-of-payments statistics. Countries follow International Monetary Fund guidelines when compiling these statistics and meet regularly to discuss methodology, but many countries have difficulty accurately recording nonofficial transactions such as migrant workers remittances and private capital flows, which is one of the reasons that the Balance of Payments Manual was updated to the 6th edition (BPM6). Analysis for this section was based on the balanceof-payments data as reported by the economies. A majority of countries use BPM5, some have shifted to BPM6, and a few continue to use BPM4. This affects the comparability of data across economies. International trade statistics are closely monitored by the World Trade Organization and other international agencies. Common definitions are used by all countries, and the larger Asian economies use standard forms and procedures for data processing. International tourist arrivals and receipts data come from the World Tourism Organization, which serves as a global forum for tourism policy issues and a practical source of information on this topic.

6 260 Key Indicators for Asia and the Pacific 2013 Balance of Payments Table 4.1 Trade in Goods Balance (% of GDP) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand = Data not available at cutoff date, 0.0 = Magnitude is less than half of unit employed, GDP = gross domestic product. Sources: Country sources, ADB staff estimates using CEIC data.

7 Globalization Balance of Payments 261 Table 4.2 Trade in Services Balance (% of GDP) Regional Member Afghanistan a Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan b Uzbekistan c China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan d India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands e Micronesia, Fed. States of a Nauru Palau a Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu a Vanuatu Australia Japan New Zealand = Data not available at cutoff date, 0.0 = Magnitude is less than half of unit employed, GDP = gross domestic product. a Includes income. b Derived as a residual between current account and trade balances. c Includes other goods and income. Applicable starting 2005 for Uzbekistan. d Prior to 2000, services, income, and transfer receipts and payments were grouped as service transfer receipts and service transfer payments. e Includes other goods and income. Sources: International Financial Statistics Online (IMF 2013); country sources.

8 262 Key Indicators for Asia and the Pacific 2013 Balance of Payments Table 4.3 Current Account Balance (% of GDP) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand = Data not available at cutoff date, 0.0 = Magnitude is less than half of unit employed, GDP = gross domestic product. Source: Country sources, ADB staff estimates using CEIC data.

9 Globalization Balance of Payments 263 Table 4.4 Workers Remittances and Compensation of Employees, Receipts ($ million) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand DEVELOPING MEMBER ECONOMIES a REGIONAL MEMBERS a WORLD = Data not available at cutoff date. a For reporting economies only. Sources: Migration and Remittances website (World Bank 2013); for Taipei,China: economy sources.

10 264 Key Indicators for Asia and the Pacific 2013 Balance of Payments Table 4.5 Workers Remittances and Compensation of Employees, Receipts (% of GDP) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand DEVELOPING MEMBER ECONOMIES a REGIONAL MEMBERS a = Data not available at cutoff date, 0.0 = Magnitude is less than half of unit employed, GDP = gross domestic product. a For reporting economies only. Sources: ADB staff estimates based on the Migration and Remittances website (World Bank 2013); for Taipei,China: economy sources.

11 Globalization Balance of Payments 265 Table 4.6 Foreign Direct Investment, Net Inflows ($ million) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand DEVELOPING MEMBER ECONOMIES a REGIONAL MEMBERS a = Data not available at cutoff date, 0 = Magnitude is less than half of unit employed. a For reporting economies only. Sources: International Financial Statistics Online (IMF 2013); World Development Indicators Online (World Bank 2013); for Taipei,China: economy sources.

12 266 Key Indicators for Asia and the Pacific 2013 Balance of Payments Table 4.7 Foreign Direct Investment, Net Inflows (% of GDP) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand DEVELOPING MEMBER ECONOMIES a REGIONAL MEMBERS a = Data not available at cutoff date, 0.0 = Magnitude is less than half of unit employed, GDP = gross domestic product. a For reporting economies only. Sources: ADB staff estimates using International Financial Statistics Online (IMF 2013); World Development Indicators Online (World Bank 2013); for Taipei,China: economy sources.

13 Globalization External Trade 267 Table 4.8 Merchandise Exports ($ million) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore a Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand DEVELOPING MEMBER ECONOMIES b REGIONAL MEMBERS b = Data not available at cutoff date, 0 = Magnitude is less than half of unit employed. a Prior to 2003, data exclude Indonesia. b For reporting economies only. Sources: Country sources, International Financial Statistics Online (IMF 2013).

14 268 Key Indicators for Asia and the Pacific 2013 External Trade Table 4.9 Growth Rates of Merchandise Exports a (%) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore b Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand DEVELOPING MEMBER ECONOMIES c REGIONAL MEMBERS c = Data not available at cutoff date, 0.0 = Magnitude is less than half of unit employed. a Rates are based on US dollar values of exports. b Prior to 2003, data exclude Indonesia. c For reporting economies only. Sources: Country sources, International Financial Statistics Online (IMF 2013).

15 Globalization External Trade 269 Table 4.10 Merchandise Imports ($ million) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia a Indonesia Lao PDR Malaysia Myanmar Philippines Singapore b Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of c Nauru Palau Papua New Guinea Samoa d Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand DEVELOPING MEMBER ECONOMIES e REGIONAL MEMBERS e = Data not available at cutoff date, 0.0 = Magnitude is less than half of unit employed. a Starting 2005, compilation methodology shifted from cif to fob. b Prior to 2003, data exclude Indonesia. c Starting 2000, compilation methodology shifted from fob to cif. d Starting 2000, compilation methodology shifted from cif to fob. e For reporting economies only. Sources: Country sources, International Financial Statistics Online (IMF 2013).

16 270 Key Indicators for Asia and the Pacific 2013 External Trade Table 4.11 Growth Rates of Merchandise Imports a (%) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia b Indonesia Lao PDR Malaysia Myanmar Philippines Singapore c Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of d Nauru Palau Papua New Guinea Samoa e Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand DEVELOPING MEMBER ECONOMIES f REGIONAL MEMBERS f = Data not available at cutoff date. a Rates are based on US dollar values of imports. b Starting 2005, compilation methodology shifted from cif to fob. c Prior to 2003, data exclude Indonesia. d Starting 2000, compilation methodology shifted from fob to cif. e Starting 2000, compilation methodology shifted from cif to fob. f For reporting economies only. Sources: Country sources, International Financial Statistics Online (IMF 2013).

17 Globalization External Trade 271 Table 4.12 Trade in Goods a (% of GDP) Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People s Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia b Indonesia Lao PDR Malaysia Myanmar Philippines Singapore c Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of d Nauru Palau Papua New Guinea Samoa e Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Australia Japan New Zealand DEVELOPING MEMBER ECONOMIES f REGIONAL MEMBERS f = Data not available at cutoff date. a The sum of merchandise exports and imports. b Starting 2005, compilation methodology shifted from cif to fob. c Prior to 2003, data exclude Indonesia. d Starting 2000, compilation methodology shifted from fob to cif. e Starting 2000, compilation methodology shifted from cif to fob. f For reporting economies only. Sources: Country sources, International Financial Statistics Online (IMF 2013).