Statistics glossary



effective exchange rate (EER) of the euro
An effective exchange rate of the euro against the currencies of the nine non-euro area EU Member States and ten of the euro area’s trading partners outside the EU. See also
effective exchange rate (EER) of the euro
An effective exchange rate of the euro encompassing the EER-19 and 19 additional countries. See also
effective exchange rate (EER) of the euro
effective exchange rate (EER) of the euro
A weighted average of bilateral euro exchange rates against the currencies of the euro area’s main trading partners. The EER indices of the euro are calculated against different groups of trading partners (see EER-19 and EER-38). The weights used reflect the share of each partner country in the euro area’s trade in manufactured goods and account for competition in third markets. See also
nominal effective exchange rate (EER) of the euro
real effective exchange rate (EER) of the euro
electronic money
A monetary value, represented by a claim on the issuer, which is: 1) stored on an electronic device (e.g. a card or computer); 2) issued upon receipt of funds in an amount not less in value than the monetary value received; and 3) accepted as a means of payment by undertakings other than the issuer.
All instruments and records acknowledging claims on the residual value of a corporation or quasi-corporation after the claims of all creditors have been met. Equity comprises equity securities and other financial instruments not classified as securities.
equity market
The market in which equities are issued and traded.
equity security
A negotiable financial instrument representing ownership of a stake in a corporation, comprising shares traded on a recognised stock exchange or any other form of organised secondary market (quoted or listed shares) and unquoted or unlisted shares. Equity securities usually produce income in the form of dividends.
errors and omissions
An item in b.o.p. statements used to offset the overstatement or understatement of the other b.o.p. components.
ESA 2010
European System of Accounts 2010 (ESA 2010)
ESA 95
European System of Accounts 1995 (ESA 95)
euro area
The area formed by the EU Member States whose currency is the euro and in which a single monetary policy is conducted under the responsibility of the Governing Council of the ECB. The euro area currently comprises Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
euro interbank offered rate (EURIBOR)
The rate at which a prime bank is willing to lend funds in euro to another prime bank. The EURIBOR is calculated daily for interbank deposits with a maturity of one week and one to 12 months as the average of the daily offer rates of a representative panel of prime banks, rounded to three decimal places.
European Commission surveys
Harmonised surveys of business and consumer opinion conducted on behalf of the European Commission in each of the EU Member States. Questions are addressed to managers in manufacturing, construction, retail and services industries as well as to consumers. From each monthly European Commission survey, composite indicators are calculated that summarise the replies to a number of different questions in a single indicator (confidence indicators).
European System of Accounts 1995 (ESA 95)
The predecessor to the European System of Accounts 2010 (ESA 2010). The ESA 95 was the EU’s version of the internationally used System of National Accounts 1993 (SNA 93), the predecessor to the 2008 SNA.
European System of Accounts 2010 (ESA 2010)
An internationally compatible accounting framework for a systematic and detailed description of a total economy (that is, a region, country or group of countries), its components and its relations with other total economies. The ESA 2010 sets common standards, definitions, classifications and accounting rules for compiling accounts and tables on a comparable basis in the European Union. It also sets out the time limits by which EU Member States must transmit their accounts and tables, to be compiled in accordance with the ESA 2010 methodology, to the European Commission (Eurostat). The ESA 2010, implementation of which began in accordance with Regulation (EU) No 549/2013 of the European Parliament and of the Council in September 2014, replaced the previous European System of Accounts 1995 (the ESA 95) and is the EU's current version of the internationally used System of National Accounts 2008 (2008 SNA).
The Statistical Office of the European Union. It is part of the European Commission and responsible for the production of Union statistics.
Eurozone Purchasing Managers’ Surveys
Surveys of business conditions in manufacturing and in services industries that are conducted for a number of countries in the euro area and used to compile indices. The Eurozone Manufacturing Purchasing Managers’ Index (PMI) is a weighted indicator calculated from indices of output, new orders, employment, suppliers’ delivery times and stocks of purchases. The service sector survey asks questions on business activity, expectations of future business activity, the amount of business outstanding, incoming new business, employment, input prices and prices charged. The Eurozone Composite Index is calculated combining the results from the manufacturing and services sector surveys.
Executive Board
One of the decision-making bodies of the ECB. It comprises the President and the Vice-President of the ECB and four other members, all of whom are appointed by common accord by the Heads of State or Government of the EU Member States whose currency is the euro. See also
General Council of the ECB
Governing Council
exemption threshold
The cut-off point below which respondents are not required to report the data required.
experimental data
A subset of data collected and compiled by the ECB, the quality of which is somewhat poorer than that of other ECB statistics, but sufficiently reliable for policy analysis and other purposes. They include data that are insufficiently harmonised, of incomplete coverage, sub-optimal in terms of statistical concepts and methodologies and/or based on estimation techniques.
external statistics
Statistics comprising the euro area b.o.p. (transactions), the euro area i.i.p. (outstanding positions) and the Eurosystem's template on international reserves and foreign currency liquidity.
external trade in goods
Exports and imports of goods with countries outside the euro area, measured in terms of value and as indices of volume and unit value. External trade statistics are not comparable with the exports and imports recorded in the national accounts, as the latter include both intra-euro area and extra-euro area transactions, and also combine goods and services. Nor are they fully comparable with the goods item in b.o.p. statistics.
extra-euro area trade
The exchange of (i.e. trade in) goods and services between euro area countries and other countries.