Why do trade statistics and national accounts’ trade values differ? The role of misclassification of products

Juan M. Valderas-Jaramillo, José M. Rueda-Cantuche and Nadim Ahmad

Economic Systems Research, 2026, vol. 38, issue 2, 275-292

Abstract: International trade statistics rarely align with the corresponding trade values in national accounts due to trade asymmetries, the national accounts’ ownership principle (compared to the cross-border principle applied in trade statistics), international transport and insurance costs, and the possible misclassification of products, among other factors. This paper presents a novel method to resolve discrepancies related to the potential product misclassification. Unlike automatic balancing processes, this approach is designed to be transparent, allowing users to understand how national data can be adjusted to fit within globally balanced trade datasets and inter-country input–output tables. It also aims to improve consistency across various international initiatives such as those of Eurostat (FIGARO), OECD, UN-ECLAC and ADB, among others. The proposed method enables users to develop balanced international trade datasets, thereby substantially reducing discrepancies in national accounts’ trade values arising from product misclassification.

Date: 2026
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DOI: 10.1080/09535314.2026.2634802

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