Although I can't seem to locate a hard definition of "external format" (save for date, time, and timestamp), everything I've seen implies that external formats are human-readable character strings.
(My client doesn't bother with external formats...because its analysts are not required to understand the data at all! A small group of savvy developers -- such as myself -- are expected to turn out tools that the rest can use without having to understand icky things like hexadecimal ).