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Statistics glossary

GDP

See

General Council of the ECB

One of the decision-making bodies of the ECB. It comprises the President and the Vice-President of the ECB and the governors of the national central banks of all EU Member States. See also

general government

A sector defined in the ESA 2010 as comprising resident entities that are engaged primarily in the production of non-market goods and services intended for individual and collective consumption and/or in the redistribution of national income and wealth. Included are central, regional and local government authorities as well as social security funds. Excluded are government-owned entities that conduct commercial operations, such as public enterprises. See also

GESMES

A United Nations standard (EDIFACT message) designed by Expert Group 6 (Statistics) of the e-Business Board for European Standardisation that allows partner institutions to exchange multi-dimensional statistical arrays in a generic but standardised way.

GESMES/TS

A message (a GESMES profile, previously called GESMES/CB) used to exchange statistical time series, related attributes and structural metadata in a standardised format.

goods (in a b.o.p. context)

An item in the current account covering moveable goods for which changes of ownership (between residents and non-residents) occur.

Governing Council

The supreme decision-making body of the ECB. It comprises the President and the Vice-President of the ECB plus the other members of the Executive Board and the governors of the national central banks of those EU Member States whose currency is the euro. See also

government deficit/surplus

Net borrowing/lending by the general government sector.

government expenditure

The set of non-financial transactions defined in the ESA 2010 as decreasing general government net lending or increasing general government net borrowing, i.e. transactions that decrease the general government sector’s net worth.

government revenue

The set of non-financial transactions defined in the ESA 2010 as increasing general government net lending or decreasing general government net borrowing, i.e. transactions that increase the general government sector’s net worth.

gross domestic product (GDP)

A measure of economic activity, namely the value of an economy's total output of goods and services, less intermediate consumption, plus net taxes on products and imports, in a specified period. GDP can be broken down by output, expenditure or income components. The main expenditure aggregates that make up GDP are household final consumption, government final consumption, gross fixed capital formation, changes in inventories, and imports and exports of goods and services (including intra-euro area trade).

gross external debt

The gross amount, at any given time, of disbursed and outstanding contractual liabilities of residents of a country for the repayment of principal (with or without interest) or the payment of interest (with or without principal) to non-residents.

gross monthly earnings

The gross monthly wages and salaries of employees, including employees’ social security contributions.