Glossary


APEC has the following 21 member economies (with the year of joining shown in parenthesis): Australia (1989); Brunei Darussalam (1989); Canada (1989); Chile (1994); China (1991); Hong Kong, China (1991); Indonesia (1989); Japan (1989); Korea (1989); Malaysia (1989); Mexico (1993); New Zealand (1989); Papua New Guinea (1993); Peru (1998); The Philippines (1989); Russia (1998); Singapore (1989); Chinese Taipei (1991); Thailand (1989); United States (1989); Viet Nam (1998).

This glossary provides definitions for all of the indicators used in the StatsAPEC databases. Wherever possible, the definitions have been taken directly from the original data provider and links to their websites have been provided. If further clarification is required, please approach the relevant data provider directly.

Key Indicators Database

Population (5 indicators)

Total Population – Total Population – Total population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship--except for refugees not permanently settled in the country of asylum, who are generally considered part of the population of their country of origin. The values shown are midyear estimates. Data shown are in thousands. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 21 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 21 November 2016.

Population Growth Rate – Annual population growth rate for year t is the exponential rate of growth of midyear population from year t-1 to t, expressed as a percentage. Population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship -- except for refugees not permanently settled in the economy of asylum, who are generally considered part of the population of their economy of origin. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 21 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 21 November 2016.

Population, Ages 0-14 – Population between the ages 0 to 14 as a percentage of the total population. Population is based on the de facto definition of population. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 21 November 2016. Chinese Taipei’s Ministry of the Interior, available at http://www.moi.gov.tw/stat/english/year.asp, accessed 21 November 2016.

Population, Ages 15-64 – Population ages 15 to 64 is the percentage of the total population that is in the age group 15 to 64. Population is based on the de facto definition of population. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 21 November 2016. Chinese Taipei’s Ministry of the Interior, available at http://www.moi.gov.tw/stat/english/year.asp, accessed 21 November 2016.

Population, Ages 65 and Above – Population ages 65 and above as a percentage of the total population. Population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship -- except for refugees not permanently settled in the economy of asylum, who are generally considered part of the population of their economy of origin. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 21 November 2016. Chinese Taipei’s Ministry of the Interior, available at http://www.moi.gov.tw/stat/english/year.asp, accessed 21 November 2016.

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Gross Domestic Product (GDP) / Gross National Income (GNI) (14 indicators)

GDP, Current USD – GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data shown are in current U.S. dollars millions. APEC aggregate is a sum based on data available.

Source World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 22 November 2016.

GDP, Constant 2010 USD – GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Dollar figures for GDP are converted from domestic currencies using 2010 official exchange rates. For a few economies where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Data shown are in constant 2010 U.S. dollars millions. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 02 December 2016.

GDP, PPP, Current International Dollar – PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data shown for Chinese Taipei are from a different source and may not be strictly comparable with the data shown for all other APEC economies. For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD). Data shown are in current international dollars millions APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016. For Chinese Taipei, International Monetary Fund, World Economic Outlook Database: April 2016 Edition, available at https://www.imf.org/external/pubs/ft/weo/2016/01/weodata/index.aspx, accessed 22 November 2016.

GDP, PPP, Constant 2011 International Dollar – PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data shown are in constant 2011 international dollars millions. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 2 December 2016.

GDP per capita, Current USD – GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. APEC aggregate is a weighted average based on Total Population.

Source:  World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 22 November 2016.

GDP per capita, Constant 2010 USD – GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2010 U.S. dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016.

GDP per capita, PPP, Current International Dollar – GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchaser’s prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current international dollars based on the 2011 ICP round. APEC aggregate is a weighted average based on Total Population.

Source:  World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016. For Chinese Taipei, International Monetary Fund, World Economic Outlook Database: April 2016 Edition, available at https://www.imf.org/external/pubs/ft/weo/2016/01/weodata/index.aspx, accessed 22 November 2016.

GDP per capita, PPP, Constant 2011 International Dollar – GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchaser’s prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2011 international dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 2 December 2016.

GDP Growth Rate – Annual percentage growth rate of GDP at market prices based on constant local currency. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. APEC aggregate is based on GDP, Constant 2010 USD.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 22 November 2016.

GDP per capita Growth Rate – Annual percentage growth rate of GDP per capita based on constant local currency. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. APEC aggregate is based on GDP per capita, Constant 2010 USD.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 22 November 2016.

GNI, Atlas Method, Current USD – GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the economy, and through 2000, the G-5 economies (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these economies include the Euro area, Japan, the United Kingdom, and the United States. Data shown for Chinese Taipei are not converted using the Atlas method and are therefore not strictly comparable with the data shown for all other APEC economies. Data shown are in current U.S. dollars millions. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 22 November 2016.

GNI, PPP, Current International Dollar – PPP GNI (formerly PPP GNP) is gross national income (GNI) converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GNI as a U.S. dollar has in the United States. Gross national income is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD). Data shown are in current international dollars millions. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016.

GNI per capita, Atlas Method, Current USD – GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the economy, and through 2000, the G-5 economies (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these economies include the Euro area, Japan, the United Kingdom, and the United States. Data shown for Chinese Taipei are not converted using the Atlas method and are therefore not strictly comparable with the data shown for all other APEC economies. Data shown are in current U.S. dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 22 November 2016.

GNI per capita, PPP, Current International Dollar – GNI per capita based on purchasing power parity (PPP). PPP GNI is gross national income (GNI) converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GNI as a U.S. dollar has in the United States. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data shown are in current international dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 22 November 2016.

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Inflation (3 indicators)

Consumer Prices – Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.

Source: International Monetary Fund, International Financial Statistics, available at http://www.imf.org/external/data.htm, accessed 23 Novembe 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 23 November 2016.

Producer Prices – Wholesale price index refers to a mix of agricultural and industrial goods at various stages of production and distribution, including import duties. The Laspeyres formula is generally used.

Source: International Monetary Fund, International Financial Statistics, available at http://www.imf.org/external/data.htm, accessed 07 December 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 23 November 2016.

GDP Deflator – The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. The base year varies by country.Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 23 Novembe. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 23 November 2016.

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Labor (10 indicators)

Labor Force Participation Rate – Labor participation rate is the proportion of the population ages 15 and older that is economically active – all persons who furnish the supply of labor for the production of goods and services during a specified time-reference period. According to the 1993 version of the System of National Accounts, production includes all individual or collective goods or services that are supplied to units other than their producers, or intended to be so supplied, including the production of goods or services used up in the process of producing such goods or services; the production of all goods that are retained by their producers for their own final use; the production of housing services by owner-occupiers and of domestic and personal services produced by employing paid domestic staff. Data are disaggregated by gender. APEC aggregates are weighted averages based on population ages 15 and older data, disaggregated by gender, from the source.

Source: International Labour Organization, Key Indicators of the Labour Market 2015, available at http://www.ilo.org/global/statistics-and-databases/research-and-databases/kilm/lang--en/index.htm, accessed 23 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 23 November 2016.

Unemployment Rate – Unemployment refers to the share of the labor force that is without work but available for and seeking employment. APEC aggregate for the total unemployment rate is a weighted average based on total labor force data from the source. Data are disaggregated by gender.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 23 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 23 November 2016.

Labor Productivity per Person Employed – Labor productivity per person employed, or GDP per person employed, is output per unit of labour input. Output is measured as "value added", which is total production minus the value of intermediate inputs, such as raw materials, semi-finished products, services purchased and energy inputs. Value added, or gross domestic product (GDP) in the national accounts, represents the compensation for input of services from capital, including depreciation, and labor directly engaged in the production.  Labor input is defined as persons employed. Data shown are in 2015 U.S. dollars converted with 2011 PPPs. APEC aggregate is a weighted average based on number of person employed. China (Official) data is used.

Source: The Conference Board Total Economy Database, November 2016, available at http://www.conference-board.org/data/economydatabase/, accessed 7 December 2016.

Age Dependency Ratio – Age dependency ratio is the ratio of dependents -- people younger than 15 or older than 64 -- to the working-age population -- those ages 15-64. Data are shown as the proportion of dependents per 100 working-age population. APEC aggregate is a weighted average based on the working-age population (number of people ages 15-64).

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 24 November 2016. Chinese Taipei’s Ministry of the Interior, available at http://www.moi.gov.tw/stat/english/year.asp, accessed 24 November 2016.

Age Dependency Ratio, Old – Age dependency ratio, old, is the ratio of older dependents--people older than 64--to the working-age population--those ages 15-64. Data are shown as the proportion of dependents per 100 working-age population. APEC aggregate is a weighted average based on the working-age population (number of people ages 15-64).

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 24 November 2016. Chinese Taipei’s Ministry of the Interior, available at http://www.moi.gov.tw/stat/english/year.asp, accessed 24 November 2016.

Age Dependency Ratio, Young – Age dependency ratio, young, is the ratio of younger dependents -- people younger than 15 -- to the working-age population -- those ages 15-64. Data are shown as the proportion of dependents per 100 working-age population. APEC aggregate is a weighted average based on the working-age population (number of people ages 15-64).

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 24 November 2016. Chinese Taipei’s Ministry of the Interior, available at http://www.moi.gov.tw/stat/english/year.asp, accessed 24 November 2016.

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Economic Structure (6 indicators)

Value Added, Agriculture – Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator. APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 24 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 6 December 2016.

Value Added, Industry – Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. For VAB countries, gross value added at factor cost is used as the denominator.  APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 24 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 6 December 2016.

Value Added, Services – Services correspond to ISIC divisions 50-99 and they include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator. APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 24 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://statdb.dgbas.gov.tw/pxweb/dialog/statfile1L.asp, accessed 6 December 2016.

Employment, Agriculture – Employees are people who work for a public or private employer and receive remuneration in wages, salary, commission, tips, piece rates, or pay in kind. Agriculture includes hunting, forestry, and fishing. It corresponds to division 1 (ISIC revision 2) or tabulation categories A and B (ISIC revision 3). Data shown are the share of total employment. APEC aggregate is a weighted average based on total employment data from the source. Note that total share of employment from agriculture, industry and services may not add up to 100 percent because some economies have a significant share of employment which are categorized as not adequately defined.

Source: International Labour Organization, Key Indicators of the Labour Market 2015, available at http://www.ilo.org/global/statistics-and-databases/research-and-databases/kilm/lang--en/index.htm, accessed 24 November 2016.

Employment, Industry – Employees are people who work for a public or private employer and receive remuneration in wages, salary, commission, tips, piece rates, or pay in kind. Industry includes mining and quarrying (including oil production), manufacturing, construction, and public utilities (electricity, gas, and water). It corresponds to divisions 2-5 (ISIC revision 2) or tabulation categories C-F (ISIC revision 3). Data shown are the share of total employment. APEC aggregate is a weighted average based on total employment data from the source. Note that total share of employment from agriculture, industry and services may not add up to 100 percent because some economies have a significant share of employment which are categorized as not adequately defined.

Source: International Labour Organization, Key Indicators of the Labour Market 2015, available at http://www.ilo.org/global/statistics-and-databases/research-and-databases/kilm/lang--en/index.htm, accessed 24 November 2016.

Employment, Services – Employees are people who work for a public or private employer and receive remuneration in wages, salary, commission, tips, piece rates, or pay in kind. Services includes wholesale and retail trade and restaurants and hotels; transport, storage, and communications; financing, insurance, real estate, and business services; and community, social, and personal services. It corresponds to divisions 6-9 (ISIC revision 2) or tabulation categories G-P (ISIC revision 3). Data shown are the share of total employment. APEC aggregate is a weighted average based on total employment data from the source. Note that total share of employment from agriculture, industry and services may not add up to 100 percent because some economies have a significant share of employment which are categorized as not adequately defined.

Source: International Labour Organization, Key Indicators of the Labour Market 2015, available at http://www.ilo.org/global/statistics-and-databases/research-and-databases/kilm/lang--en/index.htm, accessed 24 November 2016.

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Trade (13 indicators)

Merchandise Goods Trade – Total merchandise goods trade is defined according to the general trade definition. It covers all types of inward and outward movement of goods through an economy including movements through customs warehouses and free zones. Goods include all merchandise that either add to or reduce the stock of material resources of an economy by entering (imports) or leaving (exports) the economy's economic territory. Unless otherwise indicated, imports are valued at transaction value plus the cost of transportation and insurance to the frontier of the importing economy (c.i.f. valuation). Exports are valued at transaction value, including the cost of transportation and insurance to bring the merchandise to the frontier of the exporting economy (f.o.b. valuation). Data on imports and exports of merchandise goods shown are in current U.S. dollars millions. APEC aggregates are from the data source. Merchandise goods trade as a share of GDP is the sum of merchandise goods exports and imports (in current U.S. dollars) divided by the value of GDP (GDP, Current USD). APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Trade Organization, Time Series on International Trade, available at http://stat.wto.org/, accessed 24 November 2016.

Commercial Services Trade – Depending on the location of the supplier and the consumer, the General Agreement on Trade in Services (GATS) defines four modes of supply. In addition to the cross-border supply (mode 1), where both the supplier and the consumer remain in their respective home territories, GATS also covers cases where consumers are outside their home territory to consume services (mode 2 – consumption abroad), or where service suppliers are in the territory of the consumers to provide their services, whether by establishing affiliates through direct investment abroad (mode 3 – commercial presence), or through the presence of natural persons (mode 4).

An economy's Balance of Payments, namely the services account, can be used to derive estimates covering trade in commercial services for modes 1, 2 and 4. The Balance of Payments does however not include most of the information on services supplied through foreign affiliates that is required to estimate the size of mode 3.

From 1989 to 2013, imports (debits or payments) and exports (credits or receipts) of commercial services were derived from statistics on international service transactions are included in the balance of payments statistics, in conformity with the concepts, definitions and classification of the fifth (1993) edition of the IMF Balance of Payments Manual.

From 2014 onwards, imports (debits or payments) and exports (credits or receipts) of commercial services are included in balance of payments statistics, in conformity with the concepts, definitions and classification of the sixth (2009) edition of the IMF Balance of Payments and International Investment Position Manual (BPM6) as well as the 2010 edition of the Manual on Statistics of International Trade in Services (MSITS 2010).

Commercial services trade excludes public sector services. Data on imports and exports of commercial services shown are in current U.S. dollars millions. APEC aggregates are from the data source. Commercial services trade as a share of GDP is the sum of commercial services exports and imports (in current U.S. dollars) divided by the value of GDP (GDP, Current USD). APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Trade Organization, Time Series on International Trade, available at http://stat.wto.org/, accessed 24 November 2016.

Data on imports and exports of merchandise goods and commercial services are also shown in current U.S. dollars millions and the share of GDP. APEC aggregates for imports and exports of merchandise goods and commercial services in current U.S. dollars millions are sums based on data available. APEC aggregates for imports and exports of merchandise goods and commercial services as a share of GDP are weighted averages based on GDP, Current USD.

Source: World Trade Organization, Time Series on International Trade, available at http://stat.wto.org/, accessed 24 November 2016.

Current Account Balance – Current account balance is the sum of net exports of goods, services, net income, and net current transfers as provided in the balance of payments. Data shown are in current U.S. dollars millions and the share of GDP. APEC aggregate for current account balance in current U.S. dollars millions is a sum based on data available. APEC aggregate for current account balance as a share of GDP is a weighted average based on GDP, Current USD.

Source: International Monetary Fund, Balance of Payments Statistics, available at http://www.imf.org/external/data.htm, accessed 07 December 2016 and Chinese Taipei’s central bank, accessed 7 December 2016.

Net Barter Terms of Trade Index – Net barter terms of trade index is calculated as the percentage ratio of the export unit value indexes to the import unit value indexes, measured relative to the base year 2000.

Source: World Bank, World Development Indicators (Primary Source: United Nations Conference on Trade and Development and International Monetary Fund), available at http://data.worldbank.org/, accessed 29 November 2016. Chinese Taipei’s Ministry of Finance, provided 29 November 2016.

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Trade Barriers (9 indicators)

MFN Applied Tariff – Most favoured nation (MFN) tariff is the normal, non-discriminatory tariff charged on imports. It excludes preferential tariffs under free trade agreements and other schemes or tariffs charged inside quotas. The simple average MFN applied (as opposed to bound) tariffs across all Harmonized System (HS) 6-digit product levels in the economy’s custom schedule is shown. Lines where there are no trade flows are included and non-ad valorem tariffs are converted into ad valorem equivalents (AVE). Also shown are duty-free MFN applied tariffs as a percentage share of HS 6-digit subheadings in the total number of subheadings in the product group, based on the economy’s HS tariff structure. Partially duty-free subheadings are taken into account on a pro rata basis. Simple average MFN applied tariff rates and duty-free MFN applied tariffs as a share of HS 6-digit subheadings are shown for all products, agricultural products, and non-agricultural products. Agricultural products are defined by the Agreement on Agriculture, which covers not only basic agricultural products (such as wheat, milk, live animals), but the products derived from them (bread, butter, meat), as well as all processed agricultural products (such as chocolate and sausages). The coverage also includes wines, spirits and tobacco products, fibres such as cotton, wool and silk, and raw animal skins destined for leather production. Fish and fish products are not included, nor are forestry products. Non-agricultural products are all those products not covered by the Agreement on Agriculture. APEC aggregate is a simple average using the latest data available for each economy.

Source: World Trade Organization, United Nations Conference on Trade and Development, International Trade Centre, World Tariff Profiles, various annual editions, available at http://www.wto.org/english/res_e/reser_e/tariff_profiles_e.htm, accessed 30 November 2016.

Economic Freedom of the World Index, Mean Tariff Rate – The Economic Freedom of the World Index measures the degree to which the policies and institutions of economies are supportive of economic freedom. A number of variables are used to construct a summary index and to measure the degree of economic freedom in five broad areas, one of which is the freedom to trade internationally. The mean tariff rate measure is a variable used to construct the freedom to trade internationally component of the Economic Freedom of the World Index. It is based on the unweighted mean of tariff rates. The formula used to calculate the rating, which can range from 0 to 10, is: (Vmax − Vi) / (Vmax − Vmin) multiplied by 10, where Vi represents an economy’s mean tariff rate. The values for Vmin and Vmax were set at 0% and 50%, respectively. This formula will allocate a rating of 10 to economies that do not impose tariffs. The rating will decline toward zero as the mean tariff rate approaches 50%. Data shown are ratings. APEC aggregate is a simple average of ratings available for each APEC economy.

Source: James Gwartney, Robert Lawson, and Joshua Hall (2015). Economic Freedom of the World: 2015 Annual Report. Vancouver, BC, Canada: The Fraser Institute. Data are from the 2015 Dataset, available at www.freetheworld.com, accessed 30 November 2016.

Economic Freedom of the World Index, Non-tariff Trade Barriers – The Economic Freedom of the World Index measures the degree to which the policies and institutions of economies are supportive of economic freedom. A number of variables are used to construct a summary index and to measure the degree of economic freedom in five broad areas, one of which is the freedom to trade internationally. The non-tariff trade barriers measure is a variable used to construct the freedom to trade internationally component of the Economic Freedom of the World Index. It is based on responses to the World Economic Forum's Executive Opinion Survey question "In your country, tariff and non-tariff barriers significantly reduce the ability of imported goods to compete in the domestic market" as included in the Global Competitiveness Report. The question's wording has varied slightly over the years. Data shown are ratings. APEC aggregate is a simple average of ratings available for each APEC economy.

Source: James Gwartney, Robert Lawson, and Joshua Hall (2015). Economic Freedom of the World: 2015 Annual Report. Vancouver, BC, Canada: The Fraser Institute. Data are from the 2015 Dataset, available at www.freetheworld.com, accessed 30 November 2016.

Ease of Doing Business Index, Trading Across Borders – The Doing Business annual reports provide a quantitative measure of business regulations and the protection of property rights across 10 indicators as they apply to domestic small and medium-size enterprises. Trading across borders, which is one of the 10 indicators, measures the documents, time, and cost required to import and export a standardized cargo of goods by ocean transport. Data shown are distance to frontier and obtained online. For a particular year, it refers to data from the following year. For instance, the data for year 2015 are from the DB2017.

Source: World Bank and International Finance Corporation, Doing Business, available at http://www.doingbusiness.org/, accessed 01 Decemberr 2016.

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Foreign Direct Investment (FDI) (8 indicators)

Foreign direct investment is investment to acquire a lasting management interest (usually considered to be 10% or more of voting stock) in an enterprise operating in an economy other than that of the investor. It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments.

FDI Flows

For associates and subsidiaries, FDI flows consist of the net sales of shares and loans (including non-cash acquisitions made against equipment, manufacturing rights, etc.) to the parent company plus the parent firm's share of the affiliate's reinvested earnings plus total net intra-company loans (short- and long-term) provided by the parent company. For branches, FDI flows consist of the increase in reinvested earnings plus the net increase in funds received from the foreign direct investor.

Data on FDI flows are presented on net bases (capital transactions' credits less debits between direct investors and their foreign affiliates). Net decreases in assets or net increases in liabilities are recorded as credits (with a positive sign), while net increases in assets or net decreases in liabilities are recorded as debits (with a negative sign). Hence, FDI flows with a negative sign (reverse investment or disinvestment) indicate that at least one of the three components of FDI is negative and not offset by positive amounts of the remaining components.

Data on inward and outward FDI flows shown are in current U.S. dollars millions and the share of gross fixed capital formation. FDI inflows comprise capital provided (either directly or through other related enterprises) by a foreign direct investor to a FDI enterprise -- FDI flows into the reporting economy from foreign sources. FDI outflows comprise capital received by a foreign direct investor from a FDI enterprise -- FDI flows from the reporting economy into foreign sources. Gross fixed capital formation is measured by the total value of a producer’s acquisitions, less disposals, of fixed assets during the accounting period plus certain additions to the value of non-produced assets (such as subsoil assets or major improvements in the quantity, quality or productivity of land) realized by the productive activity of institutional units. APEC aggregates are from the data source.

Source: United Nations Conference on Trade and Development, Foreign Direct Investment Database, available at http://unctadstat.unctad.org, accessed 18 November 2016..

FDI Stocks

For associate and subsidiary enterprises, FDI stock is the value of the share of their capital and reserves (including retained profits) attributable to the parent enterprise (this is equal to total assets minus total liabilities), plus the net indebtedness of the associate or subsidiary to the parent firm. For branches, it is the value of fixed assets and the value of current assets and investments, excluding amounts due from the parent, less liabilities to third parties.

Data on inward and outward FDI stocks shown are in current U.S. dollars millions and the share of GDP. Inward FDI stock is the stock of FDI into the reporting economy from foreign sources. Outward FDI stock is the stock of FDI into foreign sources from the reporting economy. APEC aggregates are from the data source.

Source: United Nations Conference on Trade and Development, Foreign Direct Investment Database, available at http://unctadstat.unctad.org, accessed 18 November 2016.

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Movement of People (9 indicators)

International Tourism Arrivals – International inbound tourists (overnight visitors) are the number of tourists who travel to an economy other than that in which they usually reside, and outside their usual environment, for a period not exceeding 12 months and whose main purpose in visiting is other than an activity remunerated from within the economy visited. When data on number of tourists are not available, the number of visitors, which includes tourists, same-day visitors, cruise passengers, and crew members, is shown instead. Sources and collection methods for arrivals differ across economies. In some cases data are from border statistics (police, immigration, and the like) and supplemented by border surveys. In other cases data are from tourism accommodation establishments. For some economies number of arrivals is limited to arrivals by air and for others to arrivals staying in hotels. Some economies include arrivals of nationals residing abroad while others do not. Caution should thus be used in comparing arrivals across economies. Data shown are in thousands of people. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators (Primary Source: World Tourism Organization), available at http://data.worldbank.org/, accessed 21 November 2016.  Chinese Taipei’s Ministry of Transportation and Communications, available at http://admin.taiwan.net.tw/statistics/year_en.aspx?no=15, accessed 21 November 2016.

International Tourism Receipts – International tourism receipts are expenditures by international inbound visitors, including payments to national carriers for international transport. These receipts include any other prepayment made for goods or services received in the destination economy. They also may include receipts from same-day visitors, except when these are important enough to justify separate classification. For some economies they do not include receipts for passenger transport items. Data shown are the share of international tourism receipts in total exports, calculated as a ratio to exports of goods and services, which comprise all transactions between residents of an economy and the rest of the world involving a change of ownership from residents to non-residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services. APEC aggregate is a weighted average based on Exports of Goods and Services.

Source: World Bank, World Development Indicators (Primary Source: World Tourism Organization), available at http://data.worldbank.org/, accessed 21 November 2016. Chinese Taipei’s Ministry of Transportation and Communications, available at http://admin.taiwan.net.tw/statistics/year_en.aspx?no=15, accessed 21 November 2016 and UNWTO, Compendium of Tourism Statistics Data 2009-2013, 2015 Edition, provided 15 January 2016.

International Tourism Expenditures – International tourism expenditures are expenditures of international outbound visitors in other economies, including payments to foreign carriers for international transport. These expenditures may include those by residents travelling abroad as same-day visitors, except in cases where these are important enough to justify separate classification. For some economies they do not include expenditures for passenger transport items. Data shown are the share of international tourism expenditures in total imports, calculated as a ratio to imports of goods and services, which comprise all transactions between residents of an economy and the rest of the world involving a change of ownership from non-residents to residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services. APEC aggregate is a weighted average based on Imports of Goods and Services.

Source: World Bank, World Development Indicators (Primary Source: World Tourism Organization), available at http://data.worldbank.org/, accessed 21 November 2016. Chinese Taipei’s data is from UNWTO, Compendium of Tourism Statistics Data 2009-2013, 2015 Edition, provided 15 January 2016.

Travel & Tourism Competitiveness Index – The Travel & Tourism Competitiveness Index (TTCI) measures the different regulatory and business-related issues that have been identified as levers for improving travel and tourism competitiveness. It is based on three broad categories that facilitate or drive travel and tourism competitiveness, which are the three subindexes of the TTCI: (1) the travel and tourism regulatory framework; (2) the travel and tourism business environment and infrastructure; and (3) the travel and tourism human, cultural, and natural resources. Each of these three subindexes is in turn composed of a number of pillars of travel and tourism competitiveness, of which there are 14 in total. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7.

Source: World Economic Forum, The Travel & Tourism Competitiveness Report, various annual editions, available at http://reports.weforum.org/travel-and-tourism-competitiveness-report-2015/economy-rankings/, accessed 21 November 2016.

International Migrant Stock – International migrant stock is the number of people born in an economy other than that in which they live. It also includes refugees. Data shown are estimates of the number of international migrants in an economy as at mid-year (1 July). The data used to estimate the international migrant stock are obtained mainly from population censuses and are derived from the data on foreign-born population -- people who have residence in one economy but were born in another economy. When data on the foreign-born population are not available, data on foreign population -- people who are citizens of an economy other than the economy in which they reside -- are used as estimates. For economies with information on the international migrant stock for at least two points in time, interpolation or extrapolation was used to estimate the international migrant stock on July 1 of the reference years. For economies with only one observation, estimates for the reference years were derived using rates of change in the migrant stock in the years preceding or following the single observation available. A model was used to estimate migrants for economies that had no data. Data shown are in thousands of people and as a share of the total population. APEC aggregate for international migrant stock in thousands of people is a sum based on data available. APEC aggregate for international migrant stock as a share of total population is a weighted average based on Total Population.

Source: United Nations, Department of Economic and Social Affairs, Population Division, Trends in International Migrant Stock: The 2013 Revision, available at http://esa.un.org/migration/, accessed 21 November 2016. Chinese Taipei’s National Immigration Agency, available at http://www.immigration.gov.tw/lp.asp?ctNode=29986&CtUnit=16677&BaseDSD=7&mp=2, accessed 21 November 2016.

Personal Remittances – Personal remittances is the sum of personal transfers and compensation of employees. Personal transfers, a new item in the sixth edition of the Balance of Payments Manual (BPM6), represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and non-resident individuals, independent of the source of income of the sender (and regardless of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (regardless of whether they are related or unrelated individuals). Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by non-resident entities. Data shown for Chinese Taipei are provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies. Data on personal remittances paid and received shown are in current U.S. dollars millions. Personal remittances received is also shown as a share of GDP. APEC aggregates for personal remittances paid and received in current U.S. dollars millions are sums based on data available. APEC aggregate for personal remittances received as a share of GDP is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 21 November 2016. Chinese Taipei’s Central Bank, provided 24 June 2016.

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Finance (9 indicators)

Market Capitalization of Listed Companies – Market capitalization (also known as market value) is the share price times the number of shares outstanding. Listed domestic companies are the domestically incorporated companies listed on the economy's stock exchanges at the end of the year. Listed companies does not include investment companies, mutual funds, or other collective investment vehicles. Data shown are the share of GDP. APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators (Primary Source: Standard & Poor’s), available at http://data.worldbank.org/, accessed 12 May 2016. Chinese Taipei’s Stock Exchange Corporation, available at http://www.twse.com.tw/en/statistics/statistics_list.php?tm=07&stm=001, accessed 22 November 2016.

S&P Global Equity Indices – S&P Global Equity Indices measure the U.S. dollar price change in the stock markets covered by the S&P/IFCI and S&P/Frontier BMI country indices. Data shown are the annual percentage changes in the S&P Global Equity Indices.

Source: World Bank, World Development Indicators (Primary Source: Standard & Poor’s), available at http://data.worldbank.org/, accessed 12 May 2016. Chinese Taipei’s data is from S&P Dow Jones Indices, provided 22 November 2016.

Real Interest Rate – Real interest rate is the lending interest rate (prime rate) adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at http://data.worldbank.org/, accessed 22 November 2016. Chinese Taipei’s Central Bank, available at http://www.cbc.gov.tw/ct.asp?xItem=2069&ctNode=511, accessed 22 November 2016.

Total Reserves – International reserves comprise special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. Monetary authorities comprise central banks and, to the extent that they perform monetary authorities’ functions, currency boards, exchange stabilization funds, and treasuries. Foreign exchange includes monetary authorities’ claims on nonresidents in the form of foreign banknotes, bank deposits, treasury bills, short- and long-term government securities, ECUs (for periods before January 1999), and other claims usable in the event of balance of payments need. Total international reserves are valued at the end of the year and are shown in current U.S. dollars millions. When gold holdings are included, the gold component of these reserves is valued at year-end (December 31) London gold prices. APEC aggregates are sums based on data available.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at http://data.worldbank.org/, accessed 8 December 2016. Chinese Taipei’s data is from International Monetary Fund, International Financial Statistics, available at http://www.imf.org/external/data.htm, accessed 8 December 2016.

Public Sector Revenue – Revenue is cash receipts from taxes, social contributions, and other revenues such as fines, fees, rent, and income from property or sales. Grants are also considered as revenue but are excluded here. Data shown are the share of GDP. APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at http://data.worldbank.org/, accessed 23 November 2016. Chinese Taipei’s Ministry of Finance, available at http://www.mof.gov.tw/engweb/ct.asp?xItem=53723&CtNode=683&mp=2, accessed 23 November 2016.

Public Sector Expense – Expense is cash payments for operating activities of the public sector in providing goods and services. It includes compensation of employees (such as wages and salaries), interest and subsidies, grants, social benefits, and other expenses such as rent and dividends. Data shown are the share of GDP. APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at http://data.worldbank.org/, accessed 23 November 2016. Chinese Taipei’s Ministry of Finance, available at http://www.mof.gov.tw/engweb/ct.asp?xItem=53723&CtNode=683&mp=2, accessed 23 November 2016.

Public Sector Tax Revenue – Tax revenue refers to compulsory transfers to the central public administration sector for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue. Data shown are the share of GDP. APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at http://data.worldbank.org/, accessed 23 November 2016. Chinese Taipei’s Ministry of Finance, available at http://www.mof.gov.tw/engweb/ct.asp?xItem=53723&CtNode=683&mp=2, accessed 23 November 2016.

Public Sector Cash Surplus/Deficit – Cash surplus or deficit, or fiscal balance, is revenue (including grants) minus expense and minus net acquisition of nonfinancial assets. (In the IMF's 1986 Government Financial Statistics manual, nonfinancial assets were included under revenue and expenditure in gross terms. This cash surplus or deficit is closest to the earlier overall budget balance; still missing is lending minus repayments, which are now a financing item under net acquisition of financial assets.) Data shown are the share of GDP. APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at http://data.worldbank.org/, accessed 23 November 2016. Chinese Taipei’s Ministry of Finance, available at http://www.mof.gov.tw/engweb/ct.asp?xItem=53723&CtNode=683&mp=2, accessed 23 November 2016.

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Education (12 indicators)

School Life Expectancy – The total number of years of schooling which a child of a certain age can expect to receive in the future, assuming that the probability of his or her being enrolled in school at any particular age is equal to the current enrolment ratio for that age. It shows the overall level of development of an educational system in terms of the average number of years of schooling that the education system offers to the eligible population, including those who never enter school. A relatively high school life expectancy indicates greater probability for children to spend more years in education and higher overall retention within the education system. It must be noted that the expected number of years does not necessarily coincide with the expected number of grades of education completed, because of repetition. Since school life expectancy is an average based on participation in different levels of education, the expected number of years of schooling may be pulled down by the magnitude of children who never go to school. Those children who are in school may benefit from many more years of education than the average. Caution is required when making cross-economy comparisons; neither the length of the school year nor the quality of education is necessarily the same in each economy. In addition, as this indicator does not directly take into account the effects of repetition, it is not strictly comparable between economies with automatic promotion and those that allow grade repetition. Data are disaggregated by gender.

Source: United Nations Educational, Scientific and Cultural Organization, Institute for Statistics, Data Centre, available at http://stats.uis.unesco.org/, accessed 13 May 2016. Chinese Taipei’s Ministry of Education, available at http://english.moe.gov.tw/ct.asp?xItem=14508&CtNode=11431&mp=1, accessed 24 November 2016.

Gross Enrolment Ratio – Total enrolment in a specific level of education, regardless of age, expressed as a percentage of the eligible official school-age population corresponding to the same level of education in a given school year. It shows the general level of participation in a given level of education and indicates the capacity of the education system to enroll students of a particular age group. It can also be a complementary indicator to net enrolment rate by indicating the extent of over-aged and under-aged enrolment. A high gross enrolment ratio generally indicates a high degree of participation, whether the pupils belong to the official age group or not. A value approaching or exceeding 100% indicates that an economy is, in principle, able to accommodate all of its school-age population, but it does not indicate the proportion already enrolled. It can exceed 100% due to the inclusion of over-aged and under-aged pupils because of early or late entrants, and grade repetition. Data on gross enrolment ratios at the secondary and tertiary levels of education disaggregated by gender are shown. For the tertiary level, the population used is that of the five-year age group following on from the secondary school leaving.

Source: United Nations Educational, Scientific and Cultural Organization, Institute for Statistics, Data Centre, available at http://stats.uis.unesco.org/, accessed 24 November 2016. Chinese Taipei’s Ministry of Education, available at http://english.moe.gov.tw/ct.asp?xItem=14504&CtNode=11430&mp=1, accessed 24 November 2016.

Net Enrolment Rate – Enrolment of the official age group for a given level of education expressed as a percentage of the corresponding population. It shows the extent of coverage in a given level of education of children belonging to the official age group corresponding to the given level of education. A high net enrolment rate denotes a high degree of coverage for the official school-age population. The theoretical maximum value is 100%. Increasing trends can be considered as reflecting improving coverage at the specified level of education. When the net enrolment rate is compared with the gross enrolment ratio, the difference between the two highlights the incidence of under-aged and over-aged enrolment. If the net enrolment rate is below 100%, then the difference with 100% provides a measure of the proportion of children not enrolled at the specified level of education. However, since some of these children could be enrolled at other levels of education, this difference should in no way be considered as indicating the percentage of students not enrolled. Data on the net enrolment rate at the secondary level of education disaggregated by gender are shown.

Source: United Nations Educational, Scientific and Cultural Organization, Institute for Statistics, Data Centre, available at http://stats.uis.unesco.org/, accessed 24 November 2016. Chinese Taipei’s Ministry of Education, available at http://english.moe.gov.tw/ct.asp?xItem=14504&CtNode=11430&mp=1, accessed 24 November 2016.

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Environment (6 indicators)

Adjusted savings: net forest depletion – Net forest depletion is calculated as the product of unit resource rents and the excess of roundwood harvest over natural growth. Data shown are in current U.S. dollars millions and as percentage of GNI. In the case of current U.S. dollars millions, APEC aggregate is a sum based on data available, while in the case of percentage of GNI, APEC aggregate is a weighted average based on data available and GNI, current USD from the source.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 25 November 2016. Chinese Taipei’s Council of Agriculture, provided 25 November 2016.

Adjusted savings: carbon dioxide damage – Carbon dioxide damage is estimated to be $20 per ton of carbon (the unit damage in 1995 U.S. dollars) times the number of tons of carbon emitted. Data shown are in current U.S. dollars millions and as percentage of GNI. In the case of current U.S. dollars millions, APEC aggregate is a sum based on data available, while in the case of percentage of GNI, APEC aggregate is a weighted average based on data available and GNI, current USD from the source.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 25 November 2016.

CO2 Emissions – CO2 emissions represents the mass of carbon dioxide (CO2), a potent greenhouse gas, produced during the combustion of solid, liquid, and gaseous fuels, as well as from the manufacture of cement (in which it is produced as a byproduct) and gas flaring. The data on CO2 emissions do not include emissions from land use change or from bunker fuels used in international transportation. Data shown include CO2 emissions per GDP, or CO2 intensity, which measures the quantity of CO2 released into the atmosphere for each unit of GDP in an economy. (GDP measures the total output of goods and services for final use occurring within the domestic territory of a given economy, regardless of the allocation to domestic and foreign claims.) Data shown are in metric tons of CO2 per million constant 2011 international dollars of GDP. Also shown are CO2 emissions per capita in metric tons of CO2 per person. APEC aggregates are weighted averages based on total population and GDP data from the source.

Source: Climate Analysis Indicators Tool (CAIT) Climate Data Explorer. (Washington, DC: World Resources Institute, 2015).  Available at http://cait.wri.org/, accessed 25 November 2016. Chinese Taipei’s data are from Climate Analysis Indicators Tool (CAIT) Climate Data Explorer (Washington, DC: World Resources Institute, 2016), provided 25 November 2016.

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Information & Communications (6 indicators)

Internet Subscriptions – The number of total Internet subscriptions with fixed (wired) Internet access, which includes all dial-up and total fixed (wired) broadband subscriptions. Only active subscriptions that have used the system within the past three months should be included.  Data shown are the number of Internet subscriptions per 100 inhabitants. APEC aggregate is a weighted average based on total population data from the source.

Source: International Telecommunication Union, available at http://www.itu.int/net4/itu-d/icteye/, accessed 28 November 2016.

Internet Subscriptions, Broadband – The number of total fixed (wired) broadband Internet subscriptions refers to subscriptions to high-speed access to the public Internet (a TCP/IP connection), at downstream speeds equal to, or greater than, 256 kbit/s. This can include, for example, cable modem, DSL, fibre-to-the-home/building, and other fixed (wired) broadband subscriptions. This total is measured irrespective of the method of payment. It excludes subscriptions that have access to data communications (including the Internet) via mobile cellular networks. It should include fixed WiMAX and any other fixed wireless technologies. It includes both residential subscriptions and subscriptions for organizations. Data shown are the number of broadband Internet subscriptions per 100 inhabitants. APEC aggregate is a weighted average based on total population data from the source.

Source: World Bank, World Development Indicators (Primary Source: International Telecommunication Union), available at http://data.worldbank.org/, accessed 28 November 2016. Chinese Taipei’s data is from International Telecommunication Union, available at http://www.itu.int/net4/itu-d/icteye/, accessed 28 November 2016.

Internet Users – Internet users are individuals who have used the Internet (from any location) in the last 12 months. Internet can be used via a computer, mobile phone, personal digital assistant, games machine, digital TV etc.Data shown are the number of Internet users per 100 inhabitants. APEC aggregate is a weighted average based on total population data from the source.

Source: World Bank, World Development Indicators (Primary Source: International Telecommunication Union), available at http://data.worldbank.org/, accessed 28 November 2016. Chinese Taipei’s data is from International Telecommunication Union, available at http://www.itu.int/net4/itu-d/icteye/, accessed 28 November 2016.

Mobile Cellular Subscriptions – Mobile cellular telephone subscriptions are subscriptions to a public mobile telephone service that provide access to the PSTN using cellular technology. The indicator includes (and is split into) the number of postpaid subscriptions, and the number of active prepaid accounts (i.e. that have been used during the last three months). The indicator applies to all mobile cellular subscriptions that offer voice communications. It excludes subscriptions via data cards or USB modems, subscriptions to public mobile data services, private trunked mobile radio, telepoint, radio paging and telemetry services. Data shown are the number of mobile cellular subscriptions per 100 inhabitants and as a ratio to fixed telephone lines. APEC aggregates are weighted averages based on total population and total fixed telephone lines data from the source.

Source: World Bank, World Development Indicators (Primary Source: International Telecommunication Union), available at http://data.worldbank.org/, accessed 28 November 2016. Chinese Taipei’s data is from International Telecommunication Union, available at http://www.itu.int/net4/itu-d/icteye/, accessed 28 November 2016.

Networked Readiness Index – The Networked Readiness Index (NRI) examines how prepared economies are to effectively use ICT in four dimensions: the environment for ICT; the readiness of a society to use ICT; the actual usage of all main stakeholders; and the impacts that ICT generates in the economy and society. The NRI is a composite index based on a total of 10 pillars, which in turn are made up of a variety of measures. Data shown are scores are on a scale from 1 (worst possible outcome) to 7 (best possible outcome). Due to a change in methodology, data shown for 2005 and 2006 are scores that have been standardized with a mean of 0. For these years, if the score of an economy is positive, then that economy performs better than the mean performance across the total set of economies in the index. Likewise, a negative score implies that the economy’s performance is below the mean performance.

Source: World Economic Forum, The Global Information Technology Report, various annual editions, available at http://www.weforum.org/issues/global-information-technology, accessed 28 November 2016.

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Quality of Life (7 indicators)

Life Expectancy at Birth – Life expectancy at birth indicates the number of years a newborn infant would live if prevailing patterns of mortality at the time of its birth were to stay the same throughout its life. Data are disaggregated by gender. APEC aggregate for life expectancy at birth for the total population is a weighted average based on Total Population. APEC aggregates for life expectancy at birth disaggregated by gender are weighted averages based on population data disaggregated by gender from the source.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 29 November 2016. Chinese Taipei’s Ministry of the Interior, available at http://www.moi.gov.tw/stat/english/life.asp, accessed 29 November 2016.

Human Development Index Trends – The Human Development Index (HDI) is a composite index that measures the average achievements in an economy in three basic dimensions of human development: a long and healthy life, access to knowledge, and a decent standard of living. Health is measured by life expectancy at birth; knowledge is measured by a combination of the adult literacy rate and the combined primary, secondary, and tertiary gross enrolment ratio; and standard of living is measured by GDP per capita in USD at PPP. In order to make comparisons over time possible, this series shows HDI Trends data, which uses the latest HDI methodology and most up-to-date trend data for each component of the index. Data shown for Chinese Taipei are calculated and provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies and across years due to change in methodology between years. Data shown are values and range from a minimum of 0 to a maximum of 1.

Source: United Nations Development Programme, Human Development Report, various annual editions, available at http://hdr.undp.org/en/statistics/data/, accessed 29 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://eng.stat.gov.tw/ct.asp?xItem=25280&ctNode=6032&mp=5, accessed 29 November 2016.

Gender Inequality Index – The Gender Inequality Index (GII) shows the loss in human development due to inequality between female and male achievements in three dimensions – reproductive health, empowerment and the labor market. The health dimension is measured by two indicators: maternal mortality ratio and the adolescent fertility rate. The empowerment dimension is also measured by two indicators: the share of parliamentary seats held by each sex and by secondary and higher education attainment levels. The labor dimension is measured by women’s participation in the work force. Data shown for Chinese Taipei are calculated and provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies and across years due to change in methodology between years. Data shown are values and range from a minimum of 0, which indicates that women and men fare equally, to a maximum of 1, which indicates that women fare as poorly as possible in all measured dimensions.

Source: United Nations Development Programme, Human Development Report, various annual editions, available at http://hdr.undp.org/en/statistics/data/, accessed 29 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://eng.stat.gov.tw/ct.asp?xItem=25280&ctNode=6032&mp=5, accessed 29 November 2016.

Global Gender Gap Index – The Global Gender Gap Index examines the gap between men and women in four fundamental categories: economic participation and opportunity, educational attainment, political empowerment, and health and survival. There are three basic concepts underlying the Global Gender Gap Index. First, it is designed to measure gender-based gaps in access to resources and opportunities in individual economies rather than the actual levels of the available resources and opportunities in those economies.  Second, it captures gaps in outcome variables rather than gaps in means or input variables. Third, it ranks economies according to gender equality rather than women’s empowerment. Data shown for Chinese Taipei are calculated and provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies. Data shown are scores reported as ratios on a scale from 0 to 1, with 1 representing maximum gender equality. This allows for a rough interpretation of the score as a percentage value that reveals how much of the gender gap an economy has closed. Due to a change in methodology, data shown for 2005 are scores reported are on a scale of 1 to 7, with 7 representing maximum gender equality.

Source: World Economic Forum, The Global Gender Gap Report, various annual editions, available at http://www.weforum.org/issues/global-gender-gap, accessed 29 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at http://eng.stat.gov.tw/ct.asp?xItem=25280&ctNode=6032&mp=5, accessed 29 November 2016.

Gender Equity Index – The Gender Equity Index (GEI) measures the gender gap according to a selection of indicators relevant to gender inequity in three different dimensions: education, participation in the economy, and empowerment. The GEI measures the gap between women and men, not their welfare.  For example, an economy where both boys and girls have equal access to university studies would rank 100 in this aspect, and an economy where both boys and girls are equally unable to complete primary school would also rank 100. Data shown for Chinese Taipei have been calculated and provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies. Data shown are values with a maximum possible value of 100, which would indicate no gender gap at all in each of the three dimensions. A value of 0 would indicate the least degree of equity. Due to a change in methodology, data shown for 2005 are values that range from 1 to 12 and are based on a ranking system that depends on relative performance, so economies that have moved closer to equity are awarded a higher score.

Source: Social Watch, Gender Equity Index, various annual releases, available at http://www.socialwatch.org/node/14365, accessed 29 November 2016. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics available at http://eng.stat.gov.tw/ct.asp?xItem=25280&ctNode=6032&mp=5, accessed 29 November 2016.

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Policy-related (8 indicators)

Economic Freedom of the World Index – The Economic Freedom of the World Index measures the degree to which the policies and institutions of economies are supportive of economic freedom.  The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property.  A number of variables are used to construct a summary index and to measure the degree of economic freedom in five broad areas: (1) size of government; (2) legal structure and security of property rights; (3) access to sound money; (4) freedom to trade internationally; and (5) regulation of credit, labor and business. Data shown are ratings from the Chain-Linked Summary Index, which are most useful for tracking changes over time, and range between 10 and 0; a higher rating indicates a greater degree of economic freedom. APEC aggregate is a simple average of ratings available for each APEC economy.

Source: James Gwartney, Robert Lawson, and Joshua Hall (2015). Economic Freedom of the World: 2015 Annual Report. Vancouver, BC, Canada: The Fraser Institute. Data are from the 2015 Dataset, available at www.freetheworld.com, accessed 30 November 2016.

Ease of Doing Business Index – The Doing Business annual reports provide a quantitative measure of business regulations and the protection of property rights across 10 indicators as they apply to domestic small and medium-size enterprises: starting a business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and closing a business.  The Ease of Doing Business Index averages the economy's percentile rankings on the 10 indicators, which in turn are   ease of doing business with first place being the best; a high ranking means the regulatory environment is conducive to the operation of business.  Data shown are ranks. The rankings are based on reports from the following year. For instance the rankings for 2015 are from the Doing Business 2016 report.

Source: Transparency International, Corruption Perceptions Index, various annual releases, available at http://www.transparency.org/research/cpi/overview, accessed 30 November 2016.

Corruption Perceptions Index – An economy's Corruption Perceptions Index (CPI) score indicates the perceived level of public sector corruption and its impact on commercial life as determined by expert assessments and business opinion surveys.  Users are cautioned against comparing economy scores over time, as the CPI provides a snapshot of the views of business people and analysts for the current or recent years. Given its methodology, the CPI is not a tool that is suitable for monitoring progress or the lack of progress over time. The only reliable way to compare an economy’s score over time is to go back to individual survey sources, each of which can reflect a change in assessment. Data shown for 1995-2011 are scores ranging between 10 (highly clean) and 0 (highly corrupt), while data shown for 2012 onwards are scores ranging between 100 (very clean) and 0 (highly corrupt).

Source: Transparency International, Corruption Perceptions Index, various annual releases, available at http://www.transparency.org/research/cpi/overview, accessed 30 November 2016.

Enabling Trade Index, Overall – The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The index is comprised of four issue areas, called subindexes: (1) market access, (2) border administration, (3) transport and communications infrastructure, and (4) the business environment.  Each of these four subindexes is in turn composed of a number of pillars of enabling trade, of which there are nine in total. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://www.weforum.org/en/initiatives/gcp/GlobalEnablingTradeReport/index.htm, accessed 8 December 2016.

Enabling Trade Index, Market Access – The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The market access subindex measures the extent to which the policy framework of the economy welcomes foreign goods into the economy and enables access to foreign markets for its exporters. It is composed of the following pillar: domestic and foreign market access. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://www.weforum.org/en/initiatives/gcp/GlobalEnablingTradeReport/index.htm, accessed 8 December 2016.

Enabling Trade Index, Border Administration – The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The border administration subindex assesses the extent to which the administration at the border facilitates the entry and exit of goods.  It is composed of the following three pillars: efficiency of customs administration, efficiency of import-export procedures, and transparency of border administration. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://www.weforum.org/en/initiatives/gcp/GlobalEnablingTradeReport/index.htm, accessed 8 December 2016.

Enabling Trade Index, Transport and Communications Infrastructure – The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The transport and communications infrastructure subindex takes into account whether the economy has in place the transport and communications infrastructure necessary to facilitate the movement of goods within the economy and across the border. It is composed of the following three pillars: availability and quality of transport infrastructure, availability and quality of transport services, and availability and use of ICTs. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://www.weforum.org/en/initiatives/gcp/GlobalEnablingTradeReport/index.htm, accessed 8 December 2016.

Enabling Trade Index, Business Environment – The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The business environment subindex looks at the quality of governance as well as at the overarching regulatory and security environment impacting the business of importers and exporters active in the economy. It is composed of the following two pillars: regulatory environment and physical security. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://www.weforum.org/en/initiatives/gcp/GlobalEnablingTradeReport/index.htm, accessed 8 December 2016.

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Bilateral Linkages Database

Merchandise Trade (6 indicators)

Merchandise Trade – Merchandise trade consists of goods which add or subtract from the stock of material resources by entering (imports) or leaving (exports) an economic territory. Goods simply being transported through an economy (goods in transit) or temporarily admitted or withdrawn (except for goods for inward or outward processing) do not add to or subtract from the stock of material resources and are not included in the international merchandise trade statistics.

Merchandise exports are valued at transaction value, including the cost of transportation and insurance to bring the merchandise to the frontier of the exporting economy (f.o.b. valuation). Export data include re-exports, which includes foreign goods exported in the same state as previously imported, goods from free circulation areas, goods from premises for inward processing or industrial free zones directly to the rest of the world, and goods from premises for customs warehousing or commercial free zones directly to the rest of the world. Merchandise imports are valued at transaction value, including the cost of transportation and insurance to the frontier of the importing economy (c.i.f. valuation). Import data include re-imports, which includes goods imported in the same state as previously exported.

Data are classified using the Standard International Trade Classification, Revision 3 (SITC Rev. 3), which classifies traded products according to their material and physical properties, stage of processing, and economic functions. Manufactured goods are goods that have been processed by way of machinery and include intermediate and finished products. Under SITC Rev. 3, manufactured goods include Sections 5 through 8 (Chemicals and related products, not elsewhere specified; Manufactured goods classified chiefly by material; Machinery and transport equipment; Miscellaneous manufactured articles), excluding division 68 (Non-ferrous metals). Non-manufactured goods, or primary products, are goods that have not been processed, such as products of agriculture, forestry, fishing, and mining. Under SITC Rev. 3, non-manufactured goods include Sections 0 through 4 (Food and live animals; Beverages and tobacco; Crude materials, inedible, except fuels; Mineral fuels, lubricants and related materials; Animal and vegetable oils, fats and waxes), including division 68. Section 9 of SITC Rev. 3 (Commodities and transactions not classified elsewhere) has been excluded from the calculations.

Data on bilateral exports and imports of merchandise goods, disaggregated by manufacturing and non-manufacturing, are shown in U.S. dollars millions. For all indicators, mirror data are used for Chinese Taipei as a partner economy. For example, total merchandise exports reported from Chinese Taipei to Australia are considered as total merchandise imports to Australia from Chinese Taipei. APEC aggregates are sums based on data available.

Source: United Nations, Commodity Trade Statistics, available at http://comtrade.un.org/, accessed 23 November 2016. Chinese Taipei’s Bureau of Foreign Trade, available at http://cus93.trade.gov.tw/ENGLISH/FSCE/, accessed 31 May 2016 (for total exports and imports) and Directorate General of Customs, provided 24 June 2016 (for disaggregated exports and imports).

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Foreign Direct Investment (FDI) (4 indicators)

Foreign Direct Investment – Foreign direct investment (FDI) reflects the objective of obtaining a lasting interest by a resident entity in one economy (‘‘direct investor'') in an entity resident in an economy other than that of the investor (‘‘direct investment enterprise''). The lasting interest implies the existence of a long-term relationship between the direct investor and the enterprise and a significant degree of influence on the management of the enterprise. Direct investment involves both the initial transaction between the two entities and all subsequent capital transactions between them and among affiliated enterprises, both incorporated and unincorporated. A foreign direct investor is an individual, an incorporated or unincorporated public or private enterprise, a government, a group of related individuals, or a group of related incorporated and/or unincorporated enterprises which has a direct investment enterprise -- that is, a subsidiary, associate or branch -- operating in an economy other than the economy of residence of the foreign direct investor or investors. A direct investment enterprise is define as an incorporated or unincorporated enterprise in which a foreign investor owns 10% or more of the ordinary shares or voting power of an incorporated enterprise or the equivalent of an unincorporated enterprise.

FDI can be broken down into three categories:

(1) equity capital -- equity in branches, voting or non-voting shares in subsidiaries (greater than 50% ownership) and associates (10-50% ownership), and other capital contributions, which can include the provision of machinery or other capital equipment, raw materials, and technical know-how. Equity flows can also be defined as mergers & acquisitions (M&A) and Greenfield investments (investment in a manufacturing, office, or other physical company-related structure or group of structures in an area where no previous facilities existed).
(2) reinvested earnings -- the direct investor's share of earnings not distributed as dividends by subsidiaries or associates, and earnings of branches not remitted to the direct investor during the reporting period.
(3) other capital -- inter-company debt (extension of trade credits and loans) and other advances to the direct investment enterprise.

FDI Flows – FDI capital flows are recorded on a net basis (the investments during the reporting period netted against disinvestments). Also, FDI is recorded on a directional basis, as an asset for the economy of the direct investor and as a liability for the economy of the direct investment enterprise. In some cases, outflows from Economy A to Economy B do not match inflows to Economy B from Economy A. This is often the result of different statistical practices being used by different economies. Generally, economies allocate stock positions bilaterally to the first, or immediate, economy of ownership. However, when the first foreign direct investment enterprise is a foreign holding company, an attempt is made to attribute the investment to the ultimate economy of destination. Bilateral discrepancies can also result when there are territories being used as conduits for tax or other reasons. A final possible cause for discrepancy could involve recording errors or gaps in the national data. Data on inward and outward bilateral FDI flows are shown in U.S. dollars millions. APEC aggregates are sums based on data available.

Source: United Nations Conference on Trade and Investment, Bilateral Foreign Direct Investment Statistics, available at http://unctad.org/en/Pages/DIAE/FDI%20Statistics/FDI-Statistics-Bilateral.aspx , accessed 23 November 2016.

FDI Stocks – FDI stocks, or FDI positions, are the accumulation of FDI flows and may change according to the following: (1) changes in the market value of listed equity securities of direct investment enterprises or changes in the market value of holdings of land and buildings; (2) valuation changes of foreign currency denominated loans from direct investors to direct investment enterprises; (3) write-offs, which occur when the direct investment enterprise is no longer a viable concern (for example, when natural resources owned by a mining enterprise have been fully depleted or exploration for natural resources proves unsuccessful); and (4) reclassifications, for example, if the voting share were to increase from 8% to over 10% or if the direct investment enterprise were to acquire more than a 10% share of the direct investor. Data on inward and outward bilateral FDI stocks are shown in U.S. dollars millions. APEC aggregates are sums based on data available.

Source: United Nations Conference on Trade and Investment, Bilateral Foreign Direct Investment Statistics, available at http://unctad.org/en/Pages/DIAE/FDI%20Statistics/FDI-Statistics-Bilateral.aspx , accessed 23 November 2016.

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Portfolio Investment Assets (5 indicators)

Portfolio Investment – Portfolio investment is defined as cross-border transactions and positions involving debt or equity securities, other than those included in direct investment or reserve assets. Securities are debt and equity instruments that have the characteristic feature of negotiability. That is, their legal ownership is readily capable of being transferred from one unit to another unit by delivery or endorsement. While any financial instrument can potentially be traded, securities are designed to be traded, usually on organized exchanges or “over the counter”. In some cases, negative values are reported for the value of residents' holdings of securities issued by a particular economy. Such entries reflect short positions in securities, usually resulting from the sale of securities acquired under repurchase agreements. Data are year-end holdings valued at market prices and are shown in U.S. dollars millions. At the time of update, data are available only for the following APEC economies as reporter economies: Australia; Canada; Chile; China; Hong Kong, China; Indonesia; Japan; Korea; Malaysia; Mexico; New Zealand; The Philippines; Russia; Singapore; Thailand; United States. Data for the following APEC economies are from the previous update: Chinese Taipei. APEC aggregates are sums based on data available.

Source: International Monetary Fund, Coordinated Portfolio Investment Survey, available at http://www.imf.org/external/np/sta/pi/cpis.htm, accessed 23 November 2016.

Equity Securities – Equity securities comprise all instruments and records acknowledging, after the claims of all creditors have been met, claims on the residual values of incorporated enterprises. Shares, stocks, participations, or similar documents (such as American Depositary Receipts) usually denote ownership of equity.

Debt Securities, Long-term – Long-term debt securities cover instruments such as bonds, debentures, and notes that usually give the holder the unconditional right to a fixed money income or contractually determined variable money income and have an original term to maturity of more than one year.

Debt Securities, Short-term – Short-term debt securities cover treasury bills, commercial paper, and bankers' acceptances that generally give the holder the unconditional right to a stated fixed sum of money on a specified date. These instruments are usually traded on organized markets at a discount and have an original term to maturity of one year or less.

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Bank Lending (1 indicator)

Consolidated Foreign Claims, Immediate Borrower Basis – Foreign claims are defined as the sum of cross-border claims (claims that are granted or extended to non-residents) plus foreign offices' local claims in all currencies. On an immediate borrower basis, this category can be calculated as the sum of international claims (cross-border claims and local claims of foreign affiliates in foreign currency) and local claims in local currency. Immediate borrower basis refers to claims allocated to the economy and sector of the contractual counterparty, in contrast with ultimate risk basis in which claims are reallocated to the economy where the ultimate obligor resides. Data are available for the following APEC economies as reporter economies: Australia; Canada; Chile; Japan; Korea; Mexico; Chinese Taipei; United States. Data are provided on individual economies by nationality of reporting banks and are amounts outstanding at end-December shown in U.S. dollars millions. APEC aggregates are sums based on data available.

Source: Bank for International Settlements, Consolidated Banking Statistics, available at http://www.bis.org/statistics/consstats.htm, accessed 2 December 2016.

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