Statistical Terms Glossary

As an alternative to—or in conjunction with—the use of reserve assets, IMF credit and loans, and liabilities constituting foreign authorities’ reserves, to deal with payments imbalance, exceptional financing denotes any other arrangements made by the authorities of an economy to finance balance of payments needs.

Excess capacity refers to a situation where a firm is producing at a lower scale of output than it has been designed for.

It is a short run phenomenon that occurs when a firm produces less than it could under normal operating conditions because of a change in market conditions for input costs, output prices, or, in the case of the fishery, the fish stock abundance.

Is a supplementary cost resulting from market price support on quantities of crops domestically produced and consumed as feed by livestock producers. It is deducted from the producer support estimate (PSE) for livestock and the consumer support estimate (CSE) for crops. This avoids double-counting when aggregating the PSE and CSE for crops and livestock.

Excess prices refers to prices set significantly above competitive levels as a result of monopoly or market power.

See Cut-throat competition

The provision defined in Article 104 of the Treaty and specified in the Protocol on the excessive deficit procedure requires EU Member States to maintain budgetary discipline, defines criteria for a budgetary position to be considered an excessive deficit and sets out the steps to be taken following the observation that the criteria for the budget balance or government debt have not been fulfilled. This is supplemented by the Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure, which is an element of the Stability and Growth Pact.

Excessive hours (also called “overemployment”) is defined as “a situation where persons in employment wanted or sought to work less hours than they did during the reference period, either in the same job or in another job, accepting a corresponding reduction of income”.

The nominal exchanges rate is the price of one currency in terms of another

An exchange rate adjustment is a procedure adopted to eliminate the valuation effects arising from movements in exchange rates from data expressed in a common currency (generally the US dollar)

Exchange rate gains or losses can be either realised gains/losses or unrealised gains/losses

Exchange Rate Mechanism II is the exchange rate arrangement which provides the framework for exchange rate policy co-operation between the euro area and EU Member States not participating in the euro area from the start of Stage Three of Economic and Monetary Union (EMU).

See End-of-period exchange rate

See Period-average exchange rate

Exchange rates are the price of one country’s’ currency in relation to another.

Reflects the actual revenue for all quantities of a product that are transacted. It assumes that all purchasers pay (and producers receive) the same price on average, and hence excludes consumer surplus.

A bond or note that can be exchanged for existing shares or bonds of a third party at predetermined prices during specified periods of time.

Excise duties consist of special taxes levied on specific kinds of goods, typically alcoholic beverages, tobacco and fuels; they may be imposed at any stage of production or distribution and are usually assessed by reference to the weight or strength or quantity of the product.

Children aged 0-5 months who are being breastfed and have not received any other food or drink, except for vitamins and medications.

See Vertical restraints

A sea zone over which a State has special rights regarding the exploration and use of marine resources, including energy production from water and wind. It stretches from the baseline out to 200 nautical miles (nmi) from the coast.

Are persons who do not reside in the country of arrival and stay for just a day without spending the night in a collective or private accommodation within the country visited.

Exercise price is the pre-specified price at which the security underlying a futures or option contract may be bought or sold on the contract’s expiration date.

See striking price.