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Trade and Investment Glossary

A

Annual Growth (rate of change)
The ratio of total change in a specified time reference period to the value at the beginning of the period or at a specified earlier time reference. When changes over a period of more than one calendar year are studied, the mean annual rate of change may be computed.
Definition Source United Nations (1958). Multilingual Demographic Dictionary, English Section. Department of Economic and Social Affairs, Population Studies, No. 29 (United Nations publication, Sales No. E.58.XIII.4).

Approved Investments by JIB
Size of approved investment by the JIB to benefit from the (Investment Promotion Law) IPL.
Definition Source JIB

Arab joint venture/ Joint Arab company
Companies registered in Jordan pursuant to agreements concluded by the Government with any other state and the joint Arab companies emanating from the Arab league or the institutions or organizations.
Definition Source CCD

Areas
The administrative division of Jordan into three areas: North, Middle, and South. The North constitutes of the four governorates: Ajlun, Jerash, Mafraq, and Irbid, the Middle constitutes of the four governorates: Balqa, Amman, Zarqa, and Madaba, and the South of the three governorates: Karak, Tafileh, and Ma'an. Since Aqaba (ASEZ) is by itself an administratively separate area it's not covered by the three administrative areas of Jordan.
Definition Source TIIS Team

ASEZ
Aqaba Special Economic Zone is a liberalized, low-tax, duty-free, and multi-sectoral development area that was established in January 2001. The zone incorporates approximately 375 square Km. of Aqaba's governorate.
Definition Source TIIS Team

Aqaba Special Economic Zone- Transit
Includes Aqaba Special Economic Zone transit transactions within Jordan. Those goods might be consumed within Jordan or exported to other countries abroad.
Definition Source TIIS Team

B

Base Period
The period of time for which data used as the base of an index number, or other ratio, have been collected. This period is frequently one year but it may be as short as one day or as long as the average of a group of years.
Definition Source Kendall, Sir Maurice G., and William R. Buckland for the International Statistical Institute (1982). A Dictionary of Statistical Terms, Fourth Edition (London, Longman Group).

BEC code
A three-digit classification, which groups commodities according their main end use, introduced by the United Nations in 1970.
Definition Source OECD Organization,"Glossary of Statistical Terms", http://stats.oecd.org/glossary/detail.asp?ID=4870

C

C.I.F Price
The c.i.f. price (i.e. cost, insurance and freight price) is the price of a good delivered at the frontier of the importing country, including any insurance and freight charges incurred to that point, or the price of a service delivered to a resident, before the payment of any import duties or other taxes on imports or trade and transport margins within the country; in SNA93 this concept is applied only to detailed imports.
Definition Source 1993 SNA Paragraphs 15.35. [14.40.]

Commodity
An article or raw material that can be bought or sold, esp. a product as opposed to a service.
Definition Source Eurostat, "Methodological manual on the design and implementation of surveys on inbound tourism", Office for Official Publications of the European Communities, Luxembourg, 2000

Country of Exportation
The country from which goods are shipped with intention to separate them from the mass of goods in that country (not necessarily the country of origin)
Definition Source International Trade Data System (ITDS) http://www.itds.treas.gov/

Country of Origin
The country in which goods were produced, mined, grown or manufactured.
Definition Source International Trade Data System (ITDS) http://www.itds.treas.gov/

Currency
The national medium of exchange.
Definition Source TIIS Team

D
E

Economic Activity
It is an activity when resources such as equipment, labour, manufacturing techniques, information networks or products are combined, leading to the creation of specific goods or services. An activity is characterized by an input of products (goods or services), a production process and an output of products.
Definition Source NACE Rev. 1, Statistical Classification of Economic Activities in the European Community, Introduction, Eurostat, May 1996, P. 14-15, European Union, Council Regulation (EEC) No 696/93 of 15 March 1993 on the statistical units for the observation and analysis of the production system in the Community (Official Journal of the European Communities No L 076, 30/03/1993, p. 1), Section IV B1 and B4 of 15.03.1993 on the statistical units for the observation and analysis of the production system in the Community and Eurostat

Economic and Trade Grouping
It is the grouping of two countries or more based on economic, trade, and/or structural aspects. Examples of these groupings are: European Union, Least Developed Countries, North American Free Trade Area (NAFTA), Organization of the Petroleum Exporting Countries (OPEC). Refer back to the section "Composition of Regions and Economic and Trade Groupings".
Definition Source TIIS Team inspired by UN Statistics Division breakdown of Trade and Economic Groupings. See: http://unstats.un.org/unsd/methods/m49/m49groupe.htm

Enterprise
An enterprise is an institutional unit in its capacity as a producer of goods and services; an enterprise may be a corporation, a quasi-corporation, a non-profit institution, or an unincorporated enterprise.
Definition Source 1993 SNA, Paragraph 5.17. 5.1.

Establishment
An establishment is an enterprise, or part of an enterprise, that is situated in a single location and in which only a single (non-ancillary) productive activity is carried out or in which the principal productive activity accounts for most of the value added. On a different note, any project registered in Jordan Investment Board can be referred to as an establishment.
Definition Source 1993 SNA, Paragraph 5.21. 6.80.

Exports and Export Value of Goods (merchandise)
Goods leaving the statistical territory of a country. In the general trade system, the definition of the statistical territory of a country coincides with its economic territory. In the special trade system, the definition of the statistical territory comprises only a particular part of the economic territory, mainly that part which coincides with the free circulation area for goods. The free circulation area is a part of the economic territory of a country within which goods may be disposed of without Custom restrictions.
Definition Source United Nations (1998b). International Merchandise Trade Statistics -- Concepts and Definitions. Statistics Division, Series F, No. 52, Rev. 2 (United Nations publication, Sales No. E.98.XVII.16).

Exports of Goods and Services
Exports of goods and services consist of sales, barter, or gifts or grants, of goods and services from residents to non-residents; the treatment of exports and imports in the SNA is generally identical with that in the balance of payments accounts as described in the Balance of Payments Manual.
Definition Source 1993 SNA, paragraphs 14.88. [14.91.] [14.94.]

Exports of Services
Represents the receipts from travel, transportation, government and other services gained by residents from non-residents.
Definition Source Central Bank monthly statistical bulletin.

Exports Value
This entry provides the total JD amount of merchandise exports on an f.o.b. (free on board) basis.
Definition Source TIIS Team

F

F.o.b. Price
The f.o.b. price (free on board price) of exports and imports of goods is the market value of the goods at the point of uniform valuation, (the customs frontier of the economy from which they are exported); it is equal to the c.i.f. price less the costs of transportation and insurance charges, between the customs frontier of the exporting (importing) country and that of the importing (exporting) country.
Definition Source 1993 SNA, paragraphs 14.36. 14.40. [15.36.]

Foreign Company - Operating
A foreign nationality company registered outside the Kingdom with its head office located abroad. A branch office for that company is operating in Jordan mainly for the execution of a contract with a Jordanian employer. There are no restrictions as to the type of employer. The employer can be governmental, another company or an individual. An example of this would be a construction contract.
Definition Source CCD

Foreign Company-Non Operating
A company which has a regional office located in the Kingdom to manage the foreign company’s operations in the region. This company’s operations are coordinated with its headquarters.
Definition Source CCD

Foreign Direct Investment
Foreign direct investment is the category of international investment that reflects the objective of a resident entity in one economy to obtain a lasting interest in an enterprise resident in another economy.
Definition Source 1993 SNA, paragraph 14.151. 14.152. and Balance of Payment Manual para.359 and 362

Free Zone
An area within a country (a seaport, airport, warehouse or any designated area) regarded as being outside its customs territory where importers may bring goods of foreign origin without paying customs duties and taxes, pending their eventual processing, transshipment or re-exportation.
Definition Source International Trade Data System (ITDS) http://www.itds.treas.gov/

G

General Government
The general government sector consists of the totality of institutional units, which, in addition to fulfilling their political responsibilities and their role of economic regulation, produce principally non-market services (possibly goods) for individual or collective consumption and redistribute income and wealth.
Definition Source System of National Accounts (SNA) 1993, par.2.20

Geographical Region
Macro geographical regions arranged according to continents and component geographical regions used for statistical purposes by the Population Division and Statistics Division of the United Nations Secretariat. (United Nations, M/49/Rev.3). Examples of theses are available on the following link:http://unstats.un.org/unsd/methods/m49/m49regin.htm. Refer back to the section "Composition of Regions and Economic and Trade Groupings".
Definition Source United Nations (M/49/Rev.3). Standard Country or Area Codes for Statistical Use. Statistics Division, Series F, No. 49, Rev.3 (ST/ESA/STAT/SER.M/49/Rev.3).

Governorate
Jordan's 12 Governorates
Definition Source TIIS Team

Gross Capital Formation
Gross capital formation is measured by the total value of the gross fixed capital formation, changes in inventories and acquisitions less disposals of valuables for a unit or sector. See also the definition of Gross Fixed Capital Formation in the TIIS Glossary.
Definition Source 1993 SNA, paragraph 10.32

Gross Domestic Product (GDP) at Market Prices.
GDP at market prices is the sum of the gross values added of all resident producers at market prices, plus taxes less subsidies on imports.
Definition Source 1993 SNA, paragraph 6.235.

Gross Fixed Capital Formation
The value of newly owned durable goods purchased during the year, as an addition to the stock of assets already owned by the establishment minus the value of sold seconded hand assets.
Definition Source 1993 SNA, paragraph 1.47.

H

HS Code
Harmonized Commodity Description and Coding System (HS Code) is a classification of goods by criteria based on raw materials and the stage of production of commodities. The industrial origin criterion is considered whenever it is compatible with the main criteria set out above. It also includes a set of explanatory notes and binding rules for interpretation which form part of the Protocol of Agreement.
Definition Source Eurostat Concepts and Definitions Database (http://forum.europa.eu.int/irc/dsis/coded/info/data/coded/en/Theme2.htm)

I

Import for Consumption (IM4)
Total goods imported with the exception of those which are kept in the customs insurance warehouses plus good which are drawn form the warehouses.
Definition Source Customs Department

Imports and Import Value of Goods (merchandise)
Goods entering the statistical territory of a country. (United Nations, 1998b) See also exports.
Definition Source United Nations (1998b). International Merchandise Trade Statistics -- Concepts and Definitions. Statistics Division, Series F, No. 52, Rev. 2 (United Nations publication, Sales No. E.98.XVII.16).

Imports of goods and services
Imports of goods and services consist of purchases, barter, or receipts of gifts or grants, of goods and services by residents from non-residents; the treatment of exports and imports in the SNA is generally identical with that in the balance of payments accounts as described in the Balance of Payments Manual.
Definition Source 1993 SNA, paragraph 14.88. 14.9. 14.94.

Imports of Services
Represents the payments on travel, transportation, government and other services paid by residents to non-residents.
Definition Source Central Bank monthly statistical bulletin.

Imports Value
This entry provides the total JD amount of merchandise imports on an c.i.f. (cost of insurance and freight) basis.
Definition Source TIIS Team

Individual Establishment/Sole Proprietorship
Establishments with a limited liability owned by one person only.
Definition Source MIT

Industry
Divisions 10-45 of the International Standard Industrial Classification of All Economic Activities, Third Revision (ISIC, Rev. 3): mining and quarrying; manufacturing; electricity, gas and water; and construction. (United Nations, 1990)
Definition Source United Nations (1990). International Standard Industrial Classification of All Economic Activities, Third Revision. Statistical Office, Series M, No. 4, Rev. 3 (United Nations publication, Sales No. E.90.XVII.11).

ISIC Code
ISIC is the United Nations International Standard Industrial Classification of All Economic Activities; the third revision of ISIC is used in the 1993 SNA.
Definition Source 1993 SNA, paragraph 1.47.

J

Jordan (Economic Territory)
The economic territory of a country consists of the geographic territory administered by a government within which persons, goods, and capital circulate freely; it includes: (a) the airspace, territorial waters, and continental shelf lying in international waters over which the country enjoys exclusive rights or over which it has, or claims to have, jurisdiction in respect of the right to fish or to exploit fuels or minerals below the sea bed; (b) territorial enclaves in the rest of the world; and (c) any free zones, or bonded warehouses or factories operated by offshore enterprises under customs control (these form part of the economic territory of the country in which they are physically located).
Definition Source 1993 SNA, Paragraph 14.9.

K
L

Legal Status
Includes: Public Shareholding, Private Shareholding, Limited Liability, General Partnership, Limited Partnership, Arab Joint Venture, Exempted, Not-For-Profit, Civil, Limited Partnership In Shares, And Foreign Company – Non Operating & Operating
Definition Source CCD

Legal Status - Private Shareholding
A private shareholding company is a company that consists of two or more partners and whose shares are not offered for public underwriting. The total capital of the company is underwritten by the company's founders.
Definition Source TIIS Team

Legal Status-Civil
A form of entity permitted under the Jordanian Civil Law and its regulations.
Definition Source CCD

Legal Status- Enterprises that are exempted from registration by law
Those include the enterprises registered within ASEZ and are exempted by law from any registration duties and fees.
Definition Source TIIS Team

Legal Status-Exempted
(OFFSHORE COMPANIES) Either a public or a private shareholding company with limited liability. This company is registered as a Jordanian company that may not carry out any operations in Jordan. The company’s name must include the word "Exempt".
Definition Source CCD

Legal Status-General partnership
A company founded by a maximum of 20 natural partners, all over 18 years of age.
Definition Source CCD

Legal Status- Holding
A public shareholding company established for the purpose of acquiring shares in other companies, managing them, and extending loans, guarantees and credit facilitations. Funds are invested in shares, bonds and securities. A Holding Company owns more than half of the company’s capital and /or has authority over selecting the company’s board of directors.
Definition Source CCD

Legal Status- Independent Public Corporation
Any independent public corporation that is registered within Amman chamber of Industry, their registration is needed for them to pursue any industrial and exporting activities. One common example is the Royal Scientific Society.
Definition Source TIIS Team

Legal Status- Joint Venture
A contractual agreement that joins together two or more parties, with possibly a Jordanian investor, for the purpose of executing a particular business undertaking. All parties agree to share the resulting profits or losses of that enterprise.
Definition Source TIIS Team

Legal Status-Limited liability
A company founded by two or more partners, with their liability determined in accordance with their capital shares.
Definition Source CCD

Legal Status-Limited Partnership
A company founded by natural founders both over and under 18 years of age. Those over 18 are the General Partners who are responsible for the day to day management of the company. Limited partners contribute only to the capital of the company but have no authority in or involvement with its management.
Definition Source CCD

Legal Status - Mutual Fund Company ( Joint Investment Company)
A public shareholding company founded for the purpose of investing funds in securities for third parties, as per the Securities Law.
Definition Source CCD

Legal Status- Non Jordanian Company
A private non Jordanian company that is recorded and operates fully and solely within ASEZ , thus, benefiting from the incentives of ASEZ's law.
Definition Source TIIS Team

Legal Status-Non-profit company
Any private non- profit company
Definition Source TIIS Team

Legal Status-Non profit operating organizations (Institutions)
Public non-profit organization/institution which is independent from government. NGOs are typically value-based organizations which depend, in whole or in part, on charitable donations and voluntary service.
Definition Source TIIS Team

Legal Status- Professional Enterprise
An institutional union or association, such as physicians union , dental association
Definition Source TIIS Team

Legal Status-Public Shareholding
A company founded by a number of promoters, with a minimum of two subscribers. The liability of shareholders is limited to their capital shares. A public shareholding company can consist of one person only upon the approval of the Minister and the Controller of MIT.
Definition Source CCD

Legal Status- Limited Partnership in Shares
A limited liability company founded by a minimum of four partners: two general partners and two limited partners. The general partners are jointly liable for the debts incurred by the partnership. The liability of the limited partners is limited to their capital shares.
Definition Source CCD

M

Member industrial establishments in Amman Chamber of Industry
Industrial establishments registered in ACI according to the Industry Chambers' Law no. 10, year 2005.
Definition Source ACI

Month
Calendar month unless otherwise specified
Definition Source TIIS Team

N

Non-QIZ Investment Activity in the Public IEs
Investments and establishments operating in the public IEs managed by JIEC excluding those who export under the QIZ arrangement.
Definition Source TIIS Team

Non-resident
A unit is non-resident if its center of economic interest is not in the economic territory of a country.
Definition Source 1993 SNA paragraph 1.14. and Balance of Payment Manual para.58

O
P

Private Sector
Comprises of all resident economic entities that are not controlled or owned by government.
Definition Source System of National Accounts (SNA) 1993, par.4.75

Public IEs
The three public industrial estates of Jordan that are managed by the Jordan Industrial Estates Corporation. These are: Abdullah II Industrial Estate, Al Hassan Industrial Estate, and Al Hussein Industrial Estate.
Definition Source TIIS Team

Public Sector
Comprises of all resident corporations and quasi-corporations that are subject to control by government units, with control over a corporation being defined as the ability to determine general corporate policy by choosing appropriate directors, if necessary.
Definition Source System of National Accounts (SNA) 1993, par.4.72 and 4.84

Q

QIZ
Qualifying industrial zone is an area that has been designated by local authorities as an enclave where a product manufactured in the zone may enter U.S market without payment of duty and without the requirement of reciprocal benefits.
Definition Source TIIS Team

QIZ Investment Activity in the Public IEs
Investments and establishments exporting under the QIZ arrangement and operating in the public IEs managed by JIEC.
Definition Source TIIS Team

Quantity
Units of measurements are dependant on the exporting/importing good: units, meters, Kgm, Tons, Dozen. Metric units are used in all tables in which the data are measured in weight, volume, length or area.
Definition Source TIIS Team

R

Re-exports (EX3)
Goods, materials or articles exported in the same condition as they were imported, and imported goods which have undergone operations such as repair, re-packing, or bottling which leave them essentially unchanged before exporting.
Definition Source Customs Department

Registered Capital
The capital declared within the company founding contract and its Memorandum of Association. It is the minimum capital that can be claimed during the company's duration. The current capital on the other hand, is the registered capital of those companies including any positive/negative changes on the capital.
Definition Source TIIS Team

Re-import (IM6)
It is a good of Jordanian origin that was exported from Jordan and is subsequently imported back to Jordan in mostly the same condition as when it was exported.
Definition Source TIIS Team

Resident
An institutional unit is resident in a country when it has a center of economic interest in the economic territory of that country.
Definition Source 1993 SNA, paragraph 4.15. [1.28.] [14.8.]

S

Services
Services are outputs produced to order and which cannot be traded separately from their production; ownership rights cannot be established over services and by the time their production is completed they must have been provided to the consumers; however as an exception to this rule there is a group of industries, generally classified as service industries, some of whose outputs have characteristics of goods, i.e. those concerned with the provision, storage, communication and dissemination of information, advice and entertainment in the broadest sense of those terms; the products of these industries, where ownership rights can be established, may be classified either as goods or services depending on the medium by which these outputs are supplied.
Definition Source 1993 SNA, paragraph 6.8. [6.13.]

SITC Code
The SITC is the international trade classification published by the United Nations. The third revised version of the SITC uses the constituent elements of the HS as building blocks. SITC Rev.3 has a five-level hierarchical structure with purely numerical coding.
Definition Source Eurostat Concepts and Definitions Database (http://forum.europa.eu.int/irc/dsis/coded/info/data/coded/en/Theme2.htm)

System of National Accounts (SNA)
The System of National Accounts (SNA) consists of a coherent, consistent and integrated set of macroeconomic accounts, balance sheets and tables based on a set of internationally agreed concepts, definitions, classifications and accounting rules.
Definition Source 1993 SNA, paragraph 1.1.

T

Total Economy
The total economy consists of all the institutional units which are resident in the economic territory of a country.
Definition Source 1993 SNA, paragraph 2.22.

Total Investment Activity in the Public IEs
Investments and establishments operating in the public IEs managed by JIEC.
Definition Source TIIS Team

Total Trade
Combines all the exports and imports of a certain country.
Definition Source TIIS Team

Trade agreement
A bilateral or multilateral treaty or other enforceable compact committing two or more nations to specified terms of commerce, usually involving mutually beneficial concessions. Examples are Jordan-US FTA, Qualified Industrial Zone (QIZ), Jordan-EU Association Agreement, Greater Arab Free Trade Agreement (GAFTA), Arab bilateral FTA's, etc.
Definition Source GIA- Trading Dictionary of foreign/international trade terms http://www.giagroup.com/terms-of-trade-t.cfm

Trade Balance
Imports less exports of goods (42, para. 2.166). The Trade Balance is the difference between exports and imports of goods. (16, Intro.)
Definition Source United Nations, Commission of the European Communities, International Monetary Fund, Organization for Economic Cooperation and Development and World Bank (United Nations and others, 1994). System of National Accounts 1993 (SNA 1993), Series F, No. 2, Rev. 4 (United Nations publication Sales No. E.94.XVII.4).

Trade Systems
The two trade systems in common use by which international merchandise trade statistics are compiled are the general trade system and the special trade system. In the general trade system the statistical territory of a country coincides with its economic territory. In special trade systems the statistical territory comprises only a particular part of the economic territory, for example where there are free circulation areas or "free zones". (United Nations, 1998b, paras. 65-67)
Definition Source United Nations (1998b). International Merchandise Trade Statistics -- Concepts and Definitions. Statistics Division, Series F, No. 52, Rev. 2 (United Nations publication, Sales No. E.98.XVII.16).

Trading Partner Countries
Countries of origin and purchase in international merchandise trade transactions. (United Nations, 1994, para. 127)
Definition Source United Nations (1994). Commodity Indexes for the Standard International Trade Classification, Revision 3. Statistical Division, Series M, No. 38, Rev. 2 (United Nations publication, Sales No. E.94.XVII.10).

Transit (TR8)
Passing goods via a certain country or passing from one place to another.
Definition Source Customs Department

U
V

Value
Value at the level of a single, homogeneous good or service is equal to the price per unit of quantity multiplied by the number of quantity units of that good or service; in contrast to price, value is independent of the choice of quantity unit.
Definition Source 1993 SNA, paragraph 16.9

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