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Trade Facilitation and the Global Economy

image of Trade Facilitation and the Global Economy

In a globalised world, where goods cross borders many times as intermediate and as final products, trade facilitation is essential to lowering overall trade costs and increasing economic welfare, in particular for developing and emerging economies. Facilitation efforts undertaken by various countries around the world also show that the benefits of such measures clearly compensate the costs and challenges posed by their implementation.

 

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The trade facilitation indicators: Methodology

The OECD Trade Facilitation Indicators (TFIs) are composed of a set of variables, expressed in the form of factual questions and used to collect data on country policies in the area of trade facilitation. These variables measure the actual extent to which countries have introduced and implemented trade facilitation measures in absolute terms, but also their performance relative to others, using a series of quantitative measures on key areas of the border process. The aim is to ensure factual information that is geographically comparable and consistent over time irrespective of the various public and private entities providing the data. The variables and the possible scores that can be attributed to them are expressed in unambiguous terms, borrowing heavily from the TFA text which is widely understood among the trade policy and the business community.

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