Economic data glossary
20 definitions with the interpretation detail that a short label leaves out.
The percentage change from one year to the next, usually after applying the indicator’s stated price adjustment.
Why it matters: A 5% rebound after a 10% fall does not restore the original level because the second rate starts from a smaller base.
Values recalculated using prices from a reference period so changes more closely represent volume rather than inflation.
Why it matters: Real GDP growth uses constant-price estimates; it is not the same series as current-dollar GDP.
A country’s net transactions in goods, services, primary income and transfers with the rest of the world.
Why it matters: A deficit can finance investment and a surplus can reflect weak domestic demand, so the sign is not a simple score.
Values converted into US dollars using current-period prices and exchange rates.
Why it matters: The measure is useful for international financial scale but can move sharply when a currency changes value.
A decline in the general consumer price level, represented by a negative inflation rate.
Why it matters: Inflation falling from 8% to 3% is disinflation—prices are still rising, just more slowly.
Cross-border investment associated with a lasting ownership interest or control, reported here as net inflows.
Why it matters: A negative value can reflect disinvestment or reverse flows; one large transaction can dominate a small economy’s annual ratio.
The value added produced within an economy during a period, plus relevant product taxes and minus subsidies.
Why it matters: GDP measures production inside the territory; it is not government revenue, national wealth or household income.
GDP divided by the midyear population, producing an average amount of output per resident.
Why it matters: It is not the income of a typical resident and contains no information about distribution.
GDP plus net primary income received from the rest of the world.
Why it matters: GNI can differ from GDP where residents own substantial foreign assets or foreign owners receive substantial domestic income.
Enrollment at an education level, regardless of student age, divided by the population of the official age group.
Why it matters: It can exceed 100% because early, late and repeating students are included. It does not measure attendance or learning.
People who are employed plus people without work who are available for and actively seeking work.
Why it matters: The unemployment rate excludes people outside this definition, including many students, retirees and discouraged workers.
The newest non-missing value returned for a country and indicator, which may not be the current calendar year.
Why it matters: Charmgen prints the year beside the value rather than treating every latest observation as simultaneous.
A statistically harmonized estimate that combines available national data and a model to improve cross-country comparability.
Why it matters: It can differ from a country’s national release because the purpose and methodology are different.
Inflows minus outflows during a period, rather than the total value moving in either direction.
Why it matters: A small net number can coexist with large gross flows that mostly offset each other.
A value measured at current prices without removing the effect of inflation.
Why it matters: Nominal growth can be positive while real growth is negative if prices rise quickly enough.
The arithmetic difference between two percentages.
Why it matters: An internet-use rate rising from 50% to 60% increases by 10 percentage points, which is a 20% relative increase.
A conversion method based on the relative price of a comparable basket of goods and services across economies.
Why it matters: PPP helps compare local purchasing volume but is not an exchange rate available for paying foreign suppliers.
A value adjusted to remove price changes so movement more closely represents quantity or volume.
Why it matters: Real GDP growth can rise even when current-dollar GDP falls because exchange rates affect the latter.
Emissions assigned to the place where production occurs.
Why it matters: They differ from a consumption footprint, which reallocates emissions embodied in imports and exports.
Exports plus imports of goods and services divided by GDP.
Why it matters: The ratio can exceed 100 because trade is a gross flow while GDP measures value added. It is not a tariff index.