Australian Bureau of Statistics

Rate the ABS website
ABS Home > Statistics > By Catalogue Number
1350.0.55.001 - Australian Economic Indicators Glossary, 2006  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 31/07/2007  Reissue
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product

A

X
Z




Takings from accommodationSince 1 July 2000, takings from accommodation include gross revenue from the provision of accommodation, including GST. Takings from meals are excluded. In cases where takings from accommodation data cannot be provided inclusive of GST the amount of GST payable is estimated and the data revised accordingly. Takings from accommodation for each month generally represent the takings received during that month. Where payments are received in advance of, or after the provision of accommodation to guests, the monthly figure for takings from accommodation may not necessarily bear a direct relationship to the number of guests accommodated during the month.
Reference: Tourist Accommodation, Australia. cat. no. 8635.0.

Tangible fixed assetsTangible fixed assets consist of dwellings; other buildings and structures; machinery and equipment; and cultivated assets. See also Dwellings; Other buildings and structures; Machinery and equipment; and Cultivated assets.
Reference: Australian National Accounts: Concepts, Sources and Methods. cat. no. 5216.0.

Tangible non-produced assetsTangible non-produced assets are non-produced assets that occur in nature and over which ownership may be enforced and transferred. Environmental assets over which ownership rights have not, or cannot, be enforced, such as international waters or air space, are excluded. Tangible non-produced assets consist of land, subsoil assets, non-cultivated biological resources and water resources. See also Non-produced assets.
Reference: Australian National Accounts: Concepts, Sources and Methods. cat. no. 5216.0.

TariffA tax imposed mainly on the importation of goods and rarely on the exportation of goods. The 'Australian Customs Tariff' or Combined Australian Customs Tariff Nomenclature and Statistical Classification 1996 is the official list of imports subject to tariffs imposed by the Commonwealth government and collected by Customs.
Reference: International Merchandise Trade, Australia, Concepts, Sources and Methods. cat. no. 5489.0.

Tariff quotasSee Import quotas.
Reference: International Merchandise Trade, Australia, Concepts, Sources and Methods. cat. no. 5489.0.

TaxesCompulsory, unrequited transfers to the general government sector.
Reference: Australian System of Government Finance Statistics: Concepts, Sources and Methods. cat. no. 5514.0.55.001.

Taxes on production and importsTaxes on production and imports consist of ‘taxes on products’ and ‘other taxes on production’. These taxes do not include any taxes on the profits or other income received by an enterprise. They are payable irrespective of the profitability of the production process. They may be payable on the land, fixed assets or labour employed in the production process, or on certain activities or transactions. See also Current taxes on income and wealth; Other taxes on production; and Taxes on products.
Reference: Australian National Accounts: Concepts, Sources and Methods. cat. no. 5216.0.

Taxes on productsA tax on a product is a tax that is payable per unit of some good or service. The tax may be a specific amount of money per unit of quantity of a good or service (quantity being measured either in terms of discrete units or continuous physical variables such as volume, weight, strength, distance, time, etc.), or it may be calculated ad valorem as a specified percentage of the price per unit or value of the goods or services transacted. A tax on a product usually becomes payable when it is produced, sold or imported, but it may also become payable in other circumstances, such as when a good is exported, leased, transferred, delivered, or used for own consumption or own capital formation. See also Current taxes on income and wealth; Other taxes on production; and Taxes on production and imports.
Reference: Australian National Accounts: National Income, Expenditure and Product. cat. no. 5206.0.

Technical reservesThe technical reserves held by (non-life) insurance companies include prepayments of premiums and reserves against outstanding claims.
Reference: Australian Consumer Price Index: Concepts, Sources and Methods. cat. no. 6461.0.

Temporary tradeTemporary trade refers to goods that enter or leave Australia on a temporary basis, during which time the nature of the commodity remains unchanged.
Reference: International Merchandise Trade, Australia, Concepts, Sources and Methods. cat. no. 5489.0.

Term to maturityIn these statistics, debt securities are classified into short term (equal to or less than one year) or long term (greater than one year) according to their original term to maturity (sometimes called tenor) rather than the time remaining until maturity. The original term to maturity is the time period from the issue of a security until the principal becomes due for repayment.
Reference: Australian National Accounts: Financial Accounts. cat. no. 5232.0.

Terms of tradeTerms of trade represent the relationship between export and import prices. Australia's terms of trade are calculated by dividing the implicit price deflator for exports by the implicit price deflator for imports.
Reference: Australian National Accounts: National Income, Expenditure and Product. cat. no. 5206.0.

TerritoryTerritory refers to the geographical area under the jurisdiction of a sovereign country or state. Australia’s territory is defined to include the territories lying within its political frontiers and territorial seas, and in the international waters over which it has exclusive jurisdiction. It also includes its territorial enclaves abroad holding embassies, consulates, military bases, scientific stations, information or immigration offices, aid agencies etc., whether owned or rented by Australian governments with the formal agreement of the countries where they are located. Similar foreign enclaves located in Australia are excluded from Australia’s economic territory. In Australia’s economic statistics the external territories of Christmas Island, Cocos (Keeling) Islands and the Australian Antarctic Territory are regarded as part of the Australian economy, but Norfolk Island is not.
Reference: Australian System of Government Finance Statistics: Concepts, Sources and Methods. cat. no. 5514.0.55.001.

The New Tax System (TNTS)Package of changes to the taxation and social welfare system including the introduction of GST and the changes to business taxation announced in response to the review of business taxation.
Reference: Australian Consumer Price Index: Concepts, Sources and Methods. cat. no. 6461.0.

Total agricultural factor incomeTotal agricultural factor income is that part of total factor incomes arising from production in agriculture and services to agriculture, and is equal to the estimated gross value of production (after the inventory valuation adjustment) less estimated production costs other than compensation of employees and consumption of fixed capital, for all enterprises engaged in agriculture and services to agriculture. It includes agricultural output produced by the household sector for its own consumption.
Reference: Australian National Accounts: Concepts, Sources and Methods. cat. no. 5216.0.

Total earningsTotal earnings of employees is equal to weekly ordinary time earnings plus weekly overtime earnings.
Reference: Average Weekly Earnings, Australia. cat. no. 6302.0.

Total factor incomeTotal factor income is that part of the cost of producing the gross domestic product which consists of gross payments to factors of production (labour and capital). It represents the value added by these factors in the process of production, and is equivalent to gross domestic product less taxes plus subsidies on production and imports.
Reference: Australian National Accounts: Concepts, Sources and Methods. cat. no. 5216.0.

Total fertility rateThe sum of age-specific fertility rates (live births at each age of mother per female population of that age). It represents the number of children a female would bear during her lifetime if she experienced current age-specific fertility rates at each age of her reproductive life.
Reference: Births, Australia. cat. no. 3301.0.

Total first marriage rateThe total first marriage rate is obtained by summing age-specific first marriage rates (calculated by using total population) and indicates the number of males or females who will ever marry per 1,000 males or females in the population. The population aged under 15 years is excluded from this calculation.
Reference: Demographic Estimates and Projections: Concepts, Sources and Methods. cat. no. 3228.0.

Total hourly rates of pay indexMeasures quarterly change in combined ordinary time and overtime hourly rates of pay.
Reference: Labour Price Index, Australia. cat. no. 6345.0.

Total industrialThe scope of ‘total industrial’ is defined to include all establishments classified to the Australian and New Zealand Standard Industrial Classification (ANZSIC) Division B (Mining), excluding ANZSlC subdivision 15 (Services to mining); Division C (Manufacturing); and Division D (Electricity, gas and water). The base year weights used in constructing these indexes have been derived from establishment data. However, the quarterly indicator series used for manufacturing are based on data relating to business units which may cover more than one establishment. For more details see Indexes of Industrial Production.
Reference: Australian Economic Indicators. cat. no. 1350.0.

Trade credit claimsTrade credit claims refer to accounts receivable by Australian enterprise group from non-residents for exports of goods and services and prepayments made by Australian enterprise group for future imports of goods and services.
Reference: Australian System of Government Finance Statistics: Concepts, Sources and Methods. cat. no. 5514.0.55.001.

Trade credit liabilitiesTrade credit liabilities refer to accounts payable by the Australian enterprise group to non-residents for imports of goods and services and prepayments received from non-residents for future exports of goods and services.
Reference: Australian System of Government Finance Statistics: Concepts, Sources and Methods. cat. no. 5514.0.55.001.

Trade credits and advancesTrade credit is credit for the purchase of goods and services extended directly to corporations, to government, to NPIs, to households and to the rest of the world, and also includes advances for work that is in progress (if classified as such under inventories) or is to be undertaken. See also Financial assets; Other accounts receivable.
Reference: Australian National Accounts: Concepts, Sources and Methods. cat. no. 5216.0.

Trade-weighted index (TWI)The TWI is the weighted average value of the Australian dollar in relation to the currencies of Australia's trading partners. The base level was set at 100 in May 1970. It is published each day, specifying index levels as at 9.00 am, noon and 4.00 pm.
Reference: Reserve Bank of Australia (RBA).

Transaction pricesThe prices actually paid by consumers to acquire goods or services.
Reference: Australian Consumer Price Index: Concepts, Sources and Methods. cat. no. 6461.0.

TransactionsAn economic flow that reflects the creation, transformation, exchange, transfer, or extinction of economic value and involves changes in ownership of goods and/or financial assets, the provision of services, or the provision of labour and capital. The transactions changes recorded in the IIP reconciliation statement are the same as the transactions recorded in the financial account of the balance of payments.
Reference: Australian National Accounts: Financial Accounts. cat. no. 5232.0.

Transactor principleThere are two principles that may serve as the basis for geographic allocation of financial flows: the debtor/creditor principle and the transactor principle. Under the transactor principle, transactions resulting from changes in the claims and liabilities are allocated to the country of residence of the non-resident party to the transaction (the transactor), even if this is not the country of residence of the direct investment enterprise or direct investor. See also Debtor/Creditor principle.
Reference: Australian System of Government Finance Statistics: Concepts, Sources and Methods. cat. no. 5514.0.55.001.

TransfersTransactions in which one unit provides goods, services, assets or labour to another unit and receives nothing in return.
Reference: Australian System of Government Finance Statistics: Concepts, Sources and Methods. cat. no. 5514.0.55.001.

TranshipmentsThe transfer of goods without payment of duty from the importing vessel or aircraft to another vessel or aircraft, for the purposes of conveyance overseas. Transhipment activity occurs where goods are not being re-traded by third countries but are simply moving through a third country en route between trading partners.
Reference: International Merchandise Trade, Australia, Concepts, Sources and Methods. cat. no. 5489.0.

Treasury adjustable rate bondsCommonwealth Government securities with an adjustable interest/coupon rate, periodically reset according to movements in the Australian Bank Bill Swap Reference Rate.
Reference: Reserve Bank of Australia (RBA).

Treasury capital-indexed bondsCommonwealth Government securities with a payment stream that increases by an indexation factor reflecting changes in the rate of inflation. Indexing occurs on the principal value of the investment.
Reference: Reserve Bank of Australia (RBA).

Treasury fixed-coupon bondsCommonwealth Government securities with fixed maturity dates and twice-yearly interest or coupon payments. Coupon payments are fixed for the life of the bond at its first issue.
Reference: Reserve Bank of Australia (RBA).

Treasury notesCommonwealth Government Securities with a short term to maturity. Notes are issued to investors at a discount to their face value and the difference (or discount) represents the return on the note. They are used primarily to meet the Government's need for within-year finance.
Reference: Reserve Bank of Australia (RBA).

Treasury Unit Labour CostsNominal non-farm unit labour costs are the ratio of nominal hourly labour costs (non-farm compensation of employees plus payroll tax and fringe benefits tax less employment subsidies, per hour worked by non-farm wage and salary earners) to average hourly productivity (real gross non-farm product per hour worked by all employed persons). (Base for index: 1986-87 = 100.)

Real non-farm unit labour costs are derived by deflating nominal non-farm unit labour costs by the derived implicit price deflator for gross non-farm product. (Base for index: 1986-87 = 100.)

Real non-farm average earnings are deflated by the implicit price deflator for private final consumption expenditure.

All data are seasonally adjusted except for annual data after 1977-78 which are in original terms.
Reference: Department of the Treasury.

TrendTrend estimates help the user to identify the effect of these influences on the time series. Seasonal adjustment removes the effects caused by; regular seasonal influences; normal ‘trading’, ‘working’ or ‘pay’ day patterns and systematic holiday effects, leaving only the trend and short-term irregular movements. Trend estimates are then obtained by removing the effects of the short-term irregularities, which in many series can be a major contributor to movements in the original data. By comparing the historical trend series with the seasonally adjusted series, the user can identify the short-term irregularities which have influenced the original series.

Trend estimates produced by the ABS are based on Henderson Moving Averages, and are therefore subject to revision especially for the latest few months or quarters. The general methods used to estimate trends is described in Information Paper: A Guide to Interpreting Time Series - Monitoring Trends. cat. no. 1349.0.
Reference: Information Paper: A Guide to Interpreting Time Series - Monitoring Trends. cat. no. 1349.0.

Trend seriesA smoothed seasonally adjusted series of estimates.
Reference: Australian Labour Market Statistics. cat. no. 6105.0.

Type of investmentThe type of investment classification used in the balance of payments financial account and the international investment position consists of five broad categories: Direct investment, Portfolio investment, Financial derivatives, Other investment, and Reserve asset.
Reference: Australian System of Government Finance Statistics: Concepts, Sources and Methods. cat. no. 5514.0.55.001.


Bookmark and Share. Opens in a new window

Commonwealth of Australia 2014

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.