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Second, smuggling into Indonesia is measured by annual trade discrepancies.
Singapore, China, and Vietnam together accounted for nearly two-thirds of trade discrepancies over the period.
By contrast, trade discrepancies, while useful, will only capture a small fraction of available illicit cigarettes in the Indonesian market.
Bilateral trade value data for cigarettes were obtained from the United Nations Commodity Trade Statistics Database and used to measure trade discrepancies.
Smuggling as measured by summed, annual trade discrepancies across all trade partners is sizable relative to both imports recorded by Indonesia and exports recorded by trade partners.
Singapore, China, and Vietnam together represent the origin for more than 64% of tobacco trade discrepancies over the entire period, with Singapore accounting for 28%, as shown in Table 4.
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The five identified countries in Table 4 account for more than 85% of Indonesia's net trade discrepancy with the world over the period.> -wrap-foot> SoUnited Nations Commodity Trade StatisticsistiComtraderadatabasebase.
A trade discrepancy is the difference between exports recorded by the country of origin and imports recorded by Indonesia for a given year, and smuggling into Indonesia is indicated where exports from partners exceed Indonesian imports.
Market timing is rapid trading on discrepancies between a fund's listed price -- usually set once a day -- and the value of its underlying securities.
Several analysts place a value on the company short of where the stock is currently trading, a discrepancy that will be troublesome if the company can't keep notching public victories.
Their strategy is simply to trade off the discrepancies in the Bitcoin market by buying for cheap on one exchange and selling it for a bit more on another one.
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