Consumer durables

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Consumer durables are durable goods acquired by households for final consumption (i.e. those that are not used by households as stores of value or by unincorporated enterprises owned by households for purposes of production); they may be used for purposes of consumption repeatedly or continuously over a period of a year or more. (SNA)

Constant prices

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Constant prices are obtained by directly factoring changes over time in the values of flows or stocks of goods and services into two components reflecting changes in the prices of the goods and services concerned and changes in their volumes (i.e. changes in “constant price terms”). (SNA)

Free on board (f.o.b.)

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The market value at the customs frontier of a country’s exports of merchandise, including all costs of transporting the goods to the customs frontier, export duties, and the cost of loading the goods onto the carrier unless the latter cost is borne by the carrier. (BEA)
 
 

Consistency principle

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One of the three fundamental principles underlying the I-O accounts. Under this principle, the data compiled from one source are comparable with the data compiled from another source. For example, in accordance with this principle, the estimates shown in the I-O accounts should be consistent with the underlying source data and with the estimates shown in the national accounts. In the United States, NAICS provides a consistent basis for classification that enables comparisons across the broad range of economic statistics. The other two principles are homogeneity and proportionality. (BEA)

Free alongside ship (f.a.s.)

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The market value of merchandise at the U.S. port of export, based on transaction price including inland freight, insurance, and other charges incurred in placing the merchandise alongside the carrier at the U.S. port of exportation. The costs of loading the merchandise aboard the exporting carrier and of freight, insurance, and any charges or transportation costs beyond the port of exportation are excluded. (BEA)
 
 

Forward linkage

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The interconnection of an industry to other industries to which it sells its outputs. It is measured as the row sum of the direct requirements table (direct forward linkage) or as the row sum of the total requirements table (total forward linkage). An industry has significant forward linkages when a substantial amount of its output is used by other industries as intermediate inputs to their production. (BEA)
 
 

Foreign port value

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The value of an imported product before transportation costs, insurance, or customs duties associated with delivering the product to the United States. When these costs are added, the value of the product is measured at domestic port value. The sum of imports in final uses (shown at domestic port value) is equal to the foreign port value of the imports, with adjustments for domestically produced transportation costs, insurance, and duties. (BEA)
 
 

Foreign Imports

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A component of final uses that measures goods and services that are produced by the foreign sector and are purchased as intermediate inputs or for final use in the United States. The definition of imports in the U.S. international transactions accounts differs slightly from that in the NIPAs and I-O accounts, primarily in the treatment of trade in nonmonetary gold and of trade involving U.S. territories. Imports of goods by commodity are valued at U.S. domestic port values, including duties. Imports of services are valued at producers\’ values. The entries for transportation services and for trade include adjustments that convert the value of total imports of goods and services to foreign port value. (BEA)

First in, first out (FIFO)

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Method of valuing inventories that assumes that the oldest stock in inventories is sold first. (BEA)

Firm value

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The valuation in the I-O transaction record that is considered the most statistically reliable—that is, the value most closely based on hard data, such as the Economic Census, and least dependent on adjustments and judgmental estimation. The firm value may be the basic value, the purchasers’ value through wholesale, or the total purchasers’ value. (BEA)