Ownership-Based International Trade
The U.S. exchanges goods and services with the rest of the world through two distinct channels: cross-border trade and affiliate sales. In cross-border trade, U.S. residents sell to—or buy from—residents of another country. These traditional exports and imports include cross-border exchanges within the same multinational corporation and transactions among unaffiliated individuals.
Suggested citation: "Ownership-Based International Trade," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-06, pp. 08-09, 06.01.2002.