Economic Glossary
46 charted metrics and 217 macroeconomic terms, in one place
Metrics charted on this site
Every indicator plotted anywhere on the platform, with its definition, formula, unit, reporting frequency and upstream source. Use this tab when you want to know exactly what a number on a chart is measuring.
A
Agricultural Sector Value Added
Agriculture, forestry, and fishing sector's contribution to GDP as a percentage.
Interpretation: Typically <5% in developed economies, >20% in developing. Lower levels indicate economic development.
Average Tariff Rate
Simple mean of applied tariff rates on all products, indicating trade policy restrictiveness.
Interpretation: Lower rates indicate freer trade policies. WTO members average 3-5% for developed countries, higher for developing.
B
Budget Balance (Fiscal Surplus/Deficit)
Government cash surplus or deficit as a percentage of GDP, indicating fiscal health.
Interpretation: Positive values indicate surplus, negative values indicate deficit. Deficits above 3% of GDP are generally considered concerning.
C
Consumer Price Index
A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Interpretation: Rising CPI indicates inflation, falling CPI indicates deflation. Base year CPI is typically set to 100.
Currency Strength Index
A composite measure of a currency's value relative to other major currencies, considering trade, investment, and economic factors.
Interpretation: Higher values indicate stronger currency. Influenced by interest rates, economic growth, political stability, and trade balance.
E
Economic Center of Gravity
The geographic center point where global economic activity is concentrated, calculated based on GDP distribution across regions.
Interpretation: Shows how economic power has shifted geographically over time. Movement indicates changing patterns of global economic dominance.
Economic Similarity Analysis
A multi-dimensional analysis that compares countries based on multiple economic indicators to determine their economic similarity and clustering patterns.
Interpretation: Lower similarity scores indicate more similar economies. Countries closer together on the scatter plot have more similar economic characteristics and may be suitable for similar policy approaches.
Education Expenditure
Government expenditure on education as a percentage of GDP, reflecting investment in human capital.
Interpretation: UNESCO recommends 4-6% of GDP. Higher spending supports long-term economic growth through skilled workforce development.
Employment Rate
The percentage of working-age population that is currently employed.
Interpretation: Higher rates indicate more people are working and contributing to economic output. This metric complements the unemployment rate.
Energy Consumption per Capita
Total energy consumption divided by population, indicating energy intensity of economic activity.
Interpretation: Higher levels may indicate industrial development but also environmental impact. Efficiency improvements can reduce consumption while maintaining output.
Exchange Rate
The value of one currency expressed in terms of another currency.
Interpretation: Appreciation means the currency is worth more, depreciation means it's worth less. Affects trade competitiveness and inflation.
F
Female Labor Force Participation Rate
The percentage of female working-age population (15+) that is economically active, reflecting gender equality in labor markets.
Interpretation: Higher rates indicate better gender equality and economic utilization of human capital. OECD average is around 65%.
Foreign Direct Investment
Investment made by a foreign entity in a country's economy, typically involving ownership of business assets.
Interpretation: Positive FDI indicates foreign capital is flowing into the country, suggesting confidence in the economy and growth potential.
G
GDP Growth Rate
The percentage change in Gross Domestic Product from one period to the next, indicating economic expansion or contraction.
Interpretation: Positive growth indicates economic expansion, negative growth indicates recession. Higher growth rates suggest stronger economic performance.
GDP Share by Region
The percentage of global economic output contributed by different geographic regions over time.
Interpretation: Shows relative economic importance of different regions. Changes indicate shifts in global economic power and development patterns.
Gini Coefficient
A measure of income inequality ranging from 0 (perfect equality) to 1 (perfect inequality).
Interpretation: Lower values indicate more equal income distribution. Values above 0.4 suggest significant inequality, above 0.5 indicate high inequality.
Government Debt to GDP
The ratio of government debt to Gross Domestic Product, indicating the government's debt burden relative to economic size.
Interpretation: Lower ratios indicate healthier public finances. Very high ratios (above 90%) may indicate fiscal stress and reduced economic growth potential.
Government Spending
Total government expenditure on goods, services, and transfer payments as a percentage of GDP.
Interpretation: Higher levels indicate larger government role in economy. Optimal levels depend on economic conditions and policy objectives.
H
Healthcare Expenditure
Current health expenditure as a percentage of GDP, indicating investment in public health.
Interpretation: OECD average is around 9% of GDP. Higher spending doesn't always correlate with better outcomes, efficiency matters.
Household Consumption
Household final consumption expenditure as a percentage of GDP, reflecting consumer spending patterns.
Interpretation: Typically 50-70% of GDP. Higher levels indicate consumer-driven economies.
I
ICT Goods Exports
Information and communications technology goods exports as a percentage of total goods exports.
Interpretation: Higher percentages indicate strong tech sector and export competitiveness. Leading exporters have 15-30%.
Inflation Rate
The rate at which the general level of prices for goods and services is rising, eroding purchasing power.
Interpretation: Positive inflation means prices are rising, negative inflation (deflation) means prices are falling. Moderate inflation (2-3%) is generally healthy for economic growth.
Interest Rate
The cost of borrowing money or the return on savings, expressed as a percentage of the principal amount.
Interpretation: Higher rates indicate more expensive borrowing and better returns on savings. Lower rates encourage borrowing and investment but reduce savings returns.
Internet Users
Percentage of population with internet access, indicating digital connectivity and technological advancement.
Interpretation: Higher penetration indicates digital economy development. Above 80% is considered high connectivity.
L
Labor Force Participation Rate
The percentage of the working-age population (15+) that is economically active, either employed or actively seeking employment.
Interpretation: Higher rates indicate greater economic activity and productive capacity. Rates vary by demographics, culture, and economic development level.
Labor Productivity
The amount of economic output produced per hour of labor, measuring economic efficiency.
Interpretation: Higher productivity indicates more efficient production and higher living standards. Growth in productivity drives long-term economic growth.
M
Manufacturing Value Added
Manufacturing sector's contribution to GDP as a percentage, indicating industrial capacity.
Interpretation: Typically 10-25% in industrialized economies. Higher levels indicate strong industrial base.
Market Capitalization
Market capitalization of listed domestic companies as a percentage of GDP, reflecting stock market depth.
Interpretation: Higher values indicate developed capital markets. Developed markets often exceed 100% of GDP.
Military Expenditure
Military expenditure as a percentage of GDP, indicating defense spending priorities.
Interpretation: Global average is around 2% of GDP. Higher levels reflect security concerns, geopolitical tensions, or defense industry presence.
Mobile Cellular Subscriptions
Mobile cellular subscriptions per 100 people, indicating telecommunications infrastructure and adoption.
Interpretation: Can exceed 100% due to multiple subscriptions per person. Indicates connectivity and digital economy development.
N
New Business Density
New businesses registered per 1,000 people ages 15-64, indicating entrepreneurial activity.
Interpretation: Higher values indicate entrepreneurial dynamism. Developed economies typically have 5-15 per 1,000.
P
Patent Applications
Number of patent applications filed by residents, reflecting innovation and intellectual property creation.
Interpretation: Higher numbers indicate strong innovation activity. Leading countries file hundreds of thousands annually.
Population Growth Rate
The annual percentage change in population size, including natural increase and net migration.
Interpretation: Positive growth indicates population increase, negative growth indicates population decline. Growth rates affect economic potential and demand.
Private Sector Investment
Gross fixed capital formation by private sector as a percentage of GDP, reflecting private investment activity.
Interpretation: Higher levels indicate business confidence and economic dynamism. Typically 15-25% of GDP in developed economies.
Public Debt Service
Interest payments as a percentage of government revenue, indicating debt burden.
Interpretation: Higher levels reduce fiscal flexibility and crowd out other spending. Above 20% is considered very high.
R
Renewable Energy Consumption
Renewable energy consumption as a percentage of total final energy consumption, indicating sustainability efforts.
Interpretation: Higher percentages indicate greater sustainability. Leading countries exceed 40-50%.
Research & Development Spending
Total expenditure on research and development activities as a percentage of GDP.
Interpretation: Higher levels indicate greater investment in innovation and future economic competitiveness. OECD average is around 2.5% of GDP.
S
Scientific and Technical Publications
Number of scientific and technical journal articles published, indicating research output and innovation capacity.
Interpretation: Higher numbers indicate strong research capacity and innovation ecosystem. Leading countries publish 100,000+ annually.
Services Sector Value Added
Services sector's contribution to GDP as a percentage, indicating economic structure.
Interpretation: Typically 50-75% in developed economies. Higher levels indicate post-industrial economy development.
Social Protection Coverage
Percentage of population covered by social protection programs, indicating social safety net strength.
Interpretation: Higher coverage indicates stronger social safety nets. Developed countries typically have 80%+ coverage.
T
Tax Revenue
Tax revenue as a percentage of GDP, indicating government fiscal capacity.
Interpretation: OECD average is around 34% of GDP. Higher levels indicate greater public sector role and service provision capacity.
Tourism Receipts
International tourism receipts as a percentage of total exports, showing tourism sector importance.
Interpretation: Higher percentages indicate tourism-dependent economies. Small island nations often have 30%+.
Trade Balance
The difference between a country's exports and imports of goods and services.
Interpretation: Positive balance (surplus) means exports exceed imports. Negative balance (deficit) means imports exceed exports.
Trade Openness
Sum of exports and imports as a percentage of GDP, measuring economic openness to international trade.
Interpretation: Higher values indicate greater integration with global economy. Small open economies often exceed 100%.
U
Unemployment Rate
The percentage of the labor force that is jobless and actively seeking employment.
Interpretation: Lower rates indicate a stronger job market and economy. Very low rates may lead to wage inflation, while high rates suggest economic weakness.
Y
Youth Unemployment Rate
The unemployment rate among youth aged 15-24, a key indicator of labor market health and future economic prospects.
Interpretation: Youth unemployment is typically 2-3 times higher than overall unemployment. High levels can indicate education-job mismatches and future economic challenges.
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