Statistical Terms Glossary

The total quantity of extractions of natural resources times the realised price per unit.

Extramural expenditures includes all the R&D expenditures spent outside of the statistical unit. Those data are a useful supplement to the information collected on intramural expenditures. These extramural expenditure data are essential for providing statistics on R&D performed abroad but financed by domestic institutions.

Linked network of intranets or part of a company’s intranet that is extended to users outside the company. They may be used to share securely part of a business’s information or operations with suppliers, vendors, partners or customers.

Extraterritoriality refers to the application of one country’s laws within the jurisdiction of another country.

Shows the degree of openness of an economy from the point of view of the imports and exports of fishing products in comparison with the total of its captures.

To act directly in the market, as opposed to through an agent.

The amount of principal to be repaid (for example, the redemption amount of a bond). Sometimes called initial contractual value, for loans, the face value is the original amount of the loan as stated in the loan contract. If the loan is not fully disbursed, then the face value will include future disbursements, just as the face value of a zero-coupon bond includes interest that has not yet accrued.

Factors in a person’s environment that, through their absence or presence, improve functioning and reduce disability – for example, an accessible environment, available assistive technology, inclusive attitudes, and legislation. Facilitators can prevent impairments or activity limitations from becoming participation restrictions, since the actual performance of an action is enhanced, despite the person’s problem with capacity.

A telecommunications service provider owning, as opposed to leasing, networks used to provide telecommunications services.

See underwriting fee.

An investigation of a dispute by an impartial third party that examines the issues and facts in the case and may issue a report and recommended settlement (for example, the Independent International Fact-Finding Mission on the Conflict in Georgia established by the Council of the European Union).

Gross value added at factor cost is not a concept used explicitly in the System of National Accounts but it can easily be derived by subtracting the value of any taxes, less subsidies, on production payable out of gross value added

Factor incomes comprises compensation of employees by, and operating surplus of, producers

The factor reversal test requires that multiplying a price index and a volume index of the same type should be equal to the proportionate change in the current values (e.g. the “Fisher Ideal” price and volume indexes satisfy this test, unlike either the Paasche or Laspeyres indexes).

It is a financial transaction whereby a business sells its accounts receivable or contracts of sales of goods at a discount to a specialized agency, called a factor, who pays the business minus a factor discount and collects the receivables when due.

A basic price with the “factory gate” as the pricing point, that is, the price of the product available at the factory, excluding any separately billed transport or delivery charge.

A type of joint venture agreement where the foreign investor initially has an equity participation of more than 50% but gradually transfers this equity to one or more local parties till the local parties have majority participation.

In editing and imputation, records that have failed at least one edit pertaining to the item(s) in question.

A failing firm is a firm that has been consistently earning negative profits and losing market share to such an extent that it is likely to go out of business.

The FAIR Act, 1996, officially known as the Federal Agriculture Improvement and Reform Act of 1996. This US legislation replaces the 1990 Farm Act and governs almost all aspects of food and agriculture policy during the period 1996-2002.

The fair value of a financial asset or liability refers to the value that approximates the value that would arise from a market transaction between unrelated parties.

The price at which an asset would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.

The cultivated land that is not seeded for one or more growing seasons. The maximum idle period is usually less than five years.