Global links 6 Definitions
Data sources
• Merchandise trade includes all trade in goods and excludes
Data on merchandise trade are from the World Trade Organization.
trade in services. • Net barter terms of trade index is the percent-
Data on trade indexes are from the United Nations Conference on
age ratio of the export unit value indexes to the import unit value
Trade and Development’s (UNCTAD) annual Handbook of Statistics.
indexes, measured relative to the base year 2000. • Inbound tour-
Data on tourism expenditure are from the World Tourism Organiza-
ism expenditure is expenditures by international inbound visitors,
tion’s Yearbook of Tourism Statistics and World Tourism Organization
including payments to national carriers for international transport
(2013) and updated from its electronic files. Data on net official
and any other prepayment made for goods or services received in
development assistance are compiled by the OECD (http://stats
the destination country. They may include receipts from same-day
.oecd.org). Data on net migration are from United Nations Population
visitors, except when these are important enough to justify sepa-
Division (2013). Data on personal remittances are from the IMF’s
rate classifi cation. Data include travel and passenger transport
Balance of Payments Statistics Yearbook supplemented by World Bank
items as defined by BPM6. When passenger transport items are
staff estimates. Data on FDI are World Bank staff estimates based
not reported, expenditure data for travel items are shown. Exports
on IMF balance of payments statistics and UNCTAD data (http://
refer to all transactions between residents of a country and the rest
unctadstat.unctad.org/ReportFolders/reportFolders.aspx). Data on
of the world involving a change of ownership from residents to non-
portfolio equity are from the IMF’s Balance of Payments Statistics
residents of general merchandise, goods sent for processing and
Yearbook. Data on external debt are mainly from reports to the World
repairs, nonmonetary gold, and services. • Net official development
Bank through its DRS from member countries that have received
assistance is flows (net of repayment of principal) that meet the DAC
International Bank for Reconstruction and Development loans or
definition of official development assistance and are made to coun-
International Development Assistance credits, with additional infor-
tries and territories on the DAC list of aid recipients, divided by World
mation from the files of the World Bank, the IMF, the African Develop-
Bank estimates of GNI. • Net migration is the net total of migrants
ment Bank and African Development Fund, the Asian Development
(immigrants less emigrants, including both citizens and noncitizens)
Bank and Asian Development Fund, and the Inter-American Devel-
during the period. Data are five-year estimates. • Personal remit-
opment Bank. Summary tables of the external debt of developing
tances, received, are the sum of personal transfers (current trans-
countries are published annually in the World Bank’s International
fers in cash or in kind made or received by resident households to
Debt Statistics and International Debt Statistics database.
or from nonresident households) and compensation of employees (remuneration for the labor input to the production process contrib-
References
uted by an individual in an employer-employee relationship with the
IMF (International Monetary Fund). Various issues. International Finan-
enterprise). • Foreign direct investment is cross-border investment associated with a resident in one economy having control or a signifi cant degree of influence on the management of an enterprise that is resident in another economy. • Portfolio equity is net inflows from equity securities other than those recorded as direct investment or reserve assets, including shares, stocks, depository receipts, and direct purchases of shares in local stock markets by foreign inves-
cial Statistics. Washington, DC. ———. Various years. Balance of Payments Statistics Yearbook. Parts 1 and 2. Washington, DC. UNCTAD (United Nations Conference on Trade and Development). Various years. Handbook of Statistics. New York and Geneva. UNHCR (Office of the UN High Commissioner for Refugees). 2013. UNHCR Mid-Year Trends 2013. Geneva.
tors • Total external debt stock is debt owed to nonresident credi-
United Nations Population Division. 2013. World Population Prospects:
tors and repayable in foreign currency, goods, or services by public
The 2012 Revision. New York: United Nations, Department of Eco-
and private entities in the country. It is the sum of long-term external debt, short-term debt, and use of IMF credit. • Total debt service is the sum of principal repayments and interest actually paid in foreign
nomic and Social Affairs. World Bank. 2014. Global Economic Prospects: Commodity Market Outlook. January 2014. Washington, DC.
currency, goods, or services on long-term debt; interest paid on
———. Various years. International Debt Statistics. Washington, DC.
short-term debt; and repayments (repurchases and charges) to the
World Tourism Organization. 2013. Compendium of Tourism Statistics
IMF. Exports of goods and services and primary income are the total value of exports of goods and services, receipts of compensation of nonresident workers, and primary investment income from abroad.
Economy
States and markets
2013. Madrid. ———. Various years. Yearbook of Tourism Statistics. Vols. 1 and 2. Madrid.
Global links
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