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Glossary

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  • Assets

    All goods and rights of a company that are likely to be valued in money. Assets comprise all real estate properties of a company or institution, the source of which originated increases in liabilities. A set of real estate and personal assets that a person or entity owns.
  • Balance of Payments

    Account that records all economic transactions of a country with the rest of the world. Included therein are current accounts and equity accounts. An account that records the economic transactions of one country with the rest of the world, including the commercial account and equity accounts.
  • Balance of Trade

    Account that shows the difference between the exports and imports of goods from one country to the rest of the world.
  • Bid

    A process through which different offers are obtained for the awarding of a specific value.
  • Cluster

    A “"cluster" may be defined as a set or group of companies located within a limited geographic area, that are mutually related in a vertical, horizontal or collateral manner around certain markets, technologies or productive capitals that interact together to improve their competitiveness with the support of management.
  • Commodity

    Raw material. English term applied to any homogeneous product sold in bulk, often traded in financial markets. Among the most common ones are gold, coffee, oil, copper, and cellulose.
  • Country Risk

    Risk associated with investing in a particular foreign country. Country risk is composed of a collection of risks other than those inherent in operations carried out by residents within the country. Country risk includes political risk, exchange rate risk, economic risk, sovereign risk and transfer risk.
  • Currency

    currencies and other financial instruments allowing a country to pay what it owes another. It comprises bank notes issued by foreign banks as bank balances expressed in foreign currency. They are rights upon foreign currencies, such as checks, bills, money orders, draws, balances in checking accounts, expressed in foreign currency and payable abroad.
  • Deflation

    A phenomenon characterized by a (percentage) decline of price level, CPI, in an economy.
  • Derivative

    A financial instruments designed based on an underlying asset, the performance of which derives from the evolution of the underlying asset. Examples of derivatives are Options (call and put), Futures, Forwards and Swaps.
  • Double Taxation Agreements

    Agreements subscribed between countries, and intended for foreign businesses to be exempted from paying taxes on the economic activity that they carry out in said place, since they already fulfill said obligation in their own country.
  • Dumping

    The sale of imported merchandise at a lower price than production cost or sale cost in the country of origin in normal conditions, causing or threatening to cause substantial damage to the respective production sector in the importing country.
  • Earnings

    The difference between income or revenue and costs, expressed in monetary units.
  • ECA

    Economic Complementation Agreement.
  • Encumbrance

    Burden, limitation, or obligation, imposed upon an individual or an asset by the owner thereof in order to guarantee own or third parties’ obligations. It is a limitation to the ownership of an asset for having furnished upon the other party a right in favor of a third party, such as, for instance, usufruct, mortgage, pledge, etc. This is taxes and obligations a natural person or legal entity is subject to for holding the right to operate, own, or trade, a good or service.
  • Exchange Rate

    Price at which the currency of one may be converted to the currency of another country.
  • Fixed Assets

    Goods that have been purchased for use in the operation of a company, and not for the purpose of selling or leasing to others.
  • Float Range

    The range within which international exchange rate may freely move when the international exchange policy is governed by a collar and floors mechanism. If the exchange rate coincides with the collar or floor of the Range, the exchange policy becomes become a fixed exchange rate one. Thus, if the rate of exchange is over the collar, the Central Bank sells currency so that the collars goes down into the price range. If the rate of exchange is below the range floor, the Central Bank buys currency so that the rate of exchange goes up towards inside the range.
  • FOB Price

    Value of merchandise for export when is shipped in the vessel, prior to leaving for its destination.
  • Forward

    A derivative contract thereby the parties agree to buy or sell a specified amount of an asset at a future set date at a given price. The forward contract, unlike the futures one, is a customized transaction between both parties, that s not traded in the market.
  • GNI

    Gross National Income. Defined as the value of the total income that local residents receive within a specified period of time.
  • GNP

    Gross National Product. Defined as the value of the total income that local residents receive within a specified period of time.
  • GRDP

    Gross Regional Domestic Product measures the production value of final goods and services at market price, attributed to production factors that are physically located in the country and supplied by its residents. It is numerically equivalent to value added, with value added measuring disbursement (labor, land and capital payment), while gross domestic product measures income (income from product sales).
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