Code

Indicator

Description & Comments

Source

LAN#

Surface Area (square kilometers)

Total surface, including inland waters.

World Bank - World Development Indicators

POP#

Population (000's)

Total number of people living in the country.

IMF - World Economic Outlook Database

POP%

Population Growth (%)

Annual growth in population.

World Bank - World Development Indicators

GDP$

GDP (US$ million)

Measures the value added produced by an economy during a given year. Being expressed in US$, the value is also affected by changes in exchange rates.

IMF - World Economic Outlook Database

GDP%

GDP Growth  (%)

Measures the rate of growth recorded by an economy during a given year. The change is calculated on the basis of GDP data in real terms expressed in local currency units and, therefore, is not affected by changes in the exchange rate.

IMF - World Economic Outlook Database

GNI$

GNI per Capita (US$)

Gross income per capita, expressed in current US$.

World Bank - World Development Indicators

AGR%

Agriculture  (% of GDP)

Share of value added produced in the primary sector.

World Bank - World Development Indicators

MAN%

Manufacturing (% of GDP)

Share of value added produced by manufacturing (e.g. food and beverages, textiles & apparel, etc.).

World Bank - World Development Indicators

IND%

Industry (% of GDP)

Share of value added produced in the secondary sector. It includes manufacturing (see indicator MAN%) as well as mining, construction and public utilities.

World Bank - World Development Indicators

SER%

Services (% of GDP)

Share of value added produced by service activities, including the public administration.

World Bank - World Development Indicators

EXP%

Exports of Goods and Services (% of GDP)

Measures the relative importance of export activities.

World Bank - World Development Indicators

IMP%

Import of Goods and Services (% of GDP)

Measures the relative importance of import activities.

World Bank - World Development Indicators

CAC%

Current Account Balance (% of GDP)

Measures the importance of the net external position of a country in relation to the GDP. A common indicator of the openness of a country.

IMF - World Economic Outlook Database

FDS$

FDI Stock (US$ million)

Measures the value of existing inward FDI at the end of a given year.

UNCTAD

FDF$

FDI Flows (US$ million)

Measures the value of existing inward FDI at the end of a given year.

UNCTAD

INF%

Inflation - Average Consumer Prices (annual % change)

Measures the inflation recorded in an economy during a given year, based on nationally defined consumer price indexes.

IMF - World Economic Outlook Database

BUD%

Government Cash Surplus/Deficit (% of GDP)

Measures the relative importance of government surplus/deficit compared with the GDP.

World Bank - World Development Indicators

DEB%

Central Government Debt, Total (% of GDP)

Measures the importance of public debt compared with the GDP.

World Bank - World Development Indicators

EXCH

Official exchange rate (LCU per US$, period average)

Average value for a given calendar year. Whenever some form of control over exchange rate is in force, the value of the official rate may well differ from prevailing "market" rates.

World Bank - World Development Indicators

RER%

Real Effective Exchange Rate Index (2000 = 100)

Measures the revaluation-devaluation of the national currency compared with a basket of foreign currencies (i.e. not only the US$). Expressed as an index (with year 2000 = 100). An increase in the index value means a depreciation of the national currency while a decrease implies an appreciation.

World Bank - World Development Indicators

MOR%

Enterprises ceasing their activity during the year (% of all the firms registered at the beginning of the year)

Measures firm mortality in a given year. This indicator was added as a result of comments received during the Validation Meeting. There is no readily available indicator, at least in the case of African countries.

IPA or other national authorities

GCIR

Global Competitiveness Index - Rank

The index ranks countries in terms of their overall competitiveness, on the basis of a score combining several variables (see indicator GCIS)

World Economic Forum, Global Competitiveness Report

GCIS

Global Competitiveness Index - Score

The index measures the competitiveness of countries on the basis of a set of variables that capture both the macroeconomic and microeconomic foundations of competitiveness. In calculating the index, both primary and secondary sources are used. The score is expressed on a 1 to 7 scale, with the latter being the highest possible result. The score is used to determine the rankings (see indicator CGIR).

World Economic Forum, Global Competitiveness Report

EDBR

Ease of Doing Business Index - Rank

The index ranks countries in terms of the overall attractiveness of their business regulatory environment. The index is based on a host of variables, measuring various dimensions of regulation.

World Bank Group - Doing Business

CPIR

Corruption Perception Index - Rank

The index ranks countries in terms of the perceived level of corruption, on the basis of a score combining several variables (see indicator CPIS).

Transparency International

CPIS

Corruption Perception Index - Score

The index measures the perceived level of corruption, making use of a host of variables and sources (including polls and surveys). The score is expressed on a 1 to 10 scale, with the latter being the highest possible result. The score is used to determine the ranking of countries (see indicator CPIR).

Transparency International

EFIR

Economic Freedom Index - Rank

The index ranks countries in terms of level of economic freedom, on the basis of a score combining several variables (see indicator EFIS).

Heritage Foundation

EFIS

Economic Freedom Index - Score

The index measures the level of economic freedom, making use of a host of variables, usually derived from secondary sources. The score is expressed on a 1 to 100 scale, with the latter being the highest possible result. The score is used to determine the ranking of countries (see indicator EFIR).

Heritage Foundation

COBR

COFACE Business Climate - Rating

The indicator measures the quality of the business environment, based on a range of variables. The rating is made on the following scale (descending order): A1, A2, A3, A4, B, C, D.

COFACE

LPIR

Logistics Performance Index - Rank

The index ranks countries in terms of their performance in trade logistics, on the basis of a score combining several variables (see indicator LPIS).

World Bank - Turku School of Economics,  Logistics Performance Index, 2008

LPIS

Logistics Performance Index - Score

The index measures the performance of countries in trade logistics, combining a series of indicators related to transport, customs, etc. The score is expressed on a 1 to 5 scale, with 5 being the highest possible result. The score is used to determine the rankings (see LPIR).

World Bank - Turku School of Economics,  Logistics Performance Index, 2008

FDPR

Inward FDI Performance Index - Rank

The index ranks countries by the FDI they receive relative to their economic size. It is the ratio of a country's share in global FDI inflows to its share in global GDP.

UNCTAD

FDOR

Inward FDI Potential Index - Rank

The index captures several factors (apart from market size) expected to affect an economy's attractiveness to foreign investors, combining data for 12 variables.

UNCTAD

S&PR

S&P - Rating

The indicator refers to foreign currency long term sovereign debt issues. The ratings are based on the following scale (descending order): AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-, BB+, BB, BB-,  B+, B, B-, CCC+, CCC, CCC-, D.

MIGA - Political Risk Insurance Center

MOOR

Moody's - Rating

The indicator refers to foreign currency long term sovereign debt issues. The ratings are based on the following scale (descending order): Aaa, Aa1, Aa2, Aa3, A1, A2, A3, Baa1, Baa2, Baa3, Ba1, Ba2, Ba3, B1, B2, B3, Caa, Ca, C.

MIGA - Political Risk Insurance Center

FITR

Fitch - Rating

The indicator refers to foreign currency long term sovereign debt issues. The ratings are based on the following scale (descending order): AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-, BB+, BB, BB-,  B+, B, B-, CCC, DDD.

MIGA - Political Risk Insurance Center

OECD

OECD Consensus - Category

The indicator shows the country risk classification achieved by developed countries participating in the arrangement on officially supported export credits, the so called Consensus. Classification is based on seven categories, from 1 to 7, the latter being the riskiest.

OECD

COCR

COFACE Country Risk - Rating

The indicator measures the country risk, with emphasis mainly on macroeconomic variables. The rating is made on the following scale (descending order): A1, A2, A3, A4, B, C, D.

COFACE

MFIN

% of Firms Identifying Access to Finance as the Main Obstacle

Measures the severity of problems related to access to finance relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MLAN

% of Firms Identifying Access to Land as the Main Obstacle

Measures the severity of problems related to access to land relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MPER

% of Firms Identifying Licenses & Permits as the Main Obstacle

Measures the severity of problems related to business licensing relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MCOR

% of Firms Identifying Corruption as the Main Obstacle

Measures the severity of problems related to corruption relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MLEG

% of Firms Identifying the Legal System/Conflict Resolution as the Main Obstacle

Measures the severity of problems related to the legal system and court functioning relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MCRI

% of Firms Identifying Crime, Theft & Disorder as the Main Obstacle

Measures the severity of problems related to crime relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MCUS

% of Firms Identifying Customs & Trade Regulations as the Main Obstacle

Measures the severity of problems related to access to customs and trade regulations relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MELE

% of Firms Identifying Electricity as the Main Obstacle

Measures the severity of problems related to electricity relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MEDU

% of Firms Identifying the Inadequately Educated Workforce as the Main Obstacle

Measures the severity of problems related to the availability of educated workforce relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MLAB

% of Firms Identifying Labor Regulations as the Main Obstacle

Measures the severity of problems related to labor regulations relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MPOL

% of Firms Identifying Political Instability as the Main Obstacle

Measures the severity of problems related to access to political instability relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MINF

% of Firms Identifying Anti-competitive or Informal Practices as the Main Obstacle

Measures the severity of problems related to anti-competitive practices relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MADM

% of Firms Identifying Tax Administration as the Main Obstacle

Measures the severity of problems related to tax administration relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MTAX

% of Firms Identifying Tax Rates as the Main Obstacle

Measures the severity of problems related to tax rates relative to other obstacles to business activity.

World Bank - Enterprise Surveys

MTRA

% of Firms Identifying Transportation as the Main Obstacle

Measures the severity of problems related to transportation relative to other obstacles to business activity.

World Bank - Enterprise Surveys

CRI%

Incidence of Violent Crime (intentional homicides per 100,000)

Data refer to intentional homicides, defined as "unlawful death purposefully inflicted on a person by another person".

UNODC

%SEC

% of Firms Paying for Security

An indicator measuring the impact of security conditions on business activity.

World Bank - Enterprise Surveys

SEC%

Security Costs (% of Sales)

Measures the impact of security conditions on business activity.

World Bank - Enterprise Surveys

THE%

Losses Due to Theft, Robbery, Vandalism, and Arson Against the Firm (% of Sales)

Measures the impact of security conditions on business activity.

World Bank - Enterprise Surveys

%CRI

% of Firms Identifying Crime, Theft and Disorder as Major Constraints

Measures the impact of security conditions on business activity.

World Bank - Enterprise Surveys

COU#

Duration of a Court Case (days)

One of the basic indicators covered by the annual Doing Business Report, dealing with the efficiency of the court system. Data refer to a typical court case following a sale of goods dispute.

World Bank Group - Doing Business

COU%

Cost of Court Case (% of Claim)

One of the basic indicators covered by the annual Doing Business Report, dealing with the efficiency of the court system. Data refer to a typical court case following a sale of goods dispute.

World Bank Group - Doing Business

ADRS

Availability of Alternative Dispute Resolution Mechanisms (Score)

One of the qualitative indicators introduced upon request from the ECOWAS Commission. Currently included as a memo item only, pending the identification of a satisfactory scoring system and the availability of underlying data/information.

IPA or other national authorities

%PAY

% of Firms Expected to Pay Informal Payment to Public Officials to Get Things Done

Measures the impact of corruption conditions on business activity.

World Bank - Enterprise Surveys

%COU

% of Firms Identifying Functioning of the Courts as a Major Constraint

Measures the impact of the functioning of courts on business activity.

World Bank - Enterprise Surveys

%COR

% of Firms Identifying Corruption as a Major Constraint

Measures the impact of corruption on business activity.

World Bank - Enterprise Surveys

PROC

Degree of transparency in public procurement

This indicator was added as a result of comments received during the Validation Meeting. Currently included as a memo item only, pending the identification of a satisfactory scoring system and the availability of underlying data/information.

IPA or other national authorities

TIM%

Senior Management Time Spent in Dealing with Requirements of Government Regulation (% of total)

Measures the impact of red tape on business activity.

World Bank - Enterprise Surveys

EST#

Time required to establish a business (days)

One of the basic indicators covered by the annual Doing Business Report, dealing with company registration. Data refer to the establishment of a locally owned limited liability company.

World Bank Group - Doing Business

CON#

Time to obtain a construction permit for business premises (days)

Initially, this indicator was referred the time required to obtain a construction permit for a warehouse and the relevant information was derived from the annual Doing Business Report, which makes reference to the erection of a 1,300 sqm warehouse located in a peri-urban area in the largest city. During the Validation Meeting it was decided to broaden the scope of the indicator, to encompass business premises. This will require reliance of data collected at the local level by national authorities and may result in the formulation of more than one indicator, to take into account the various typologies of buildings. The data currently included in the database refer to warehouses and are taken from the Doing Business Report.

IPA or other national authorities. In the case of warehouses, data can be gathered from the World Bank Group Doing Business

REG#

Time to register a property (days)

One of the basic indicators covered by the annual Doing Business Report, dealing with property registration. Data refer to a land plot of about 560 sqm, fully owned and unencumbered.

World Bank Group - Doing Business

%LIC

% of Firms Identifying Business Licensing and Permits as a Major Constraint

An indicator measuring the impact of red tape on business activity.

World Bank - Enterprise Surveys

MFN%

Average MFN Tariff Rate (simple average, %)

Indicator of the import restrictiveness regime, resulting from the simple average of MFN applied duties on all goods.

WTO - ITC - UNCTAD, World Tariff Profiles, 2008

EXP#

Average Time to Clear Exports through Customs (days)

One of the basic indicators covered by the annual Doing Business Report, dealing with export trade. Data refer to a standard dry-cargo, 20-foor container.

World Bank Group - Doing Business

IMP#

Average Time to Clear Imports from Customs (days)

One of the basic indicators covered by the annual Doing Business Report, dealing with export trade. Data refer to a standard dry-cargo, 20-foor container.

World Bank Group - Doing Business

%CUS

% of Firms that Trade Identifying Customs & Trade Regulations as a Major Constraint

An indicator measuring the impact of customs and trade regulations on business activity.

World Bank - Enterprise Surveys

PRT%

Profit Tax (%)

One of the basic indicators covered by the annual Doing Business Report, dealing with taxation. Data refer to tax liabilities for a locally-owned limited liability company.

World Bank Group - Doing Business

OTT%

Other Taxes (%)

One of the basic indicators covered by the annual Doing Business Report, dealing with taxation. Data refer to tax liabilities for a locally-owned limited liability company.

World Bank Group - Doing Business

SOC%

Social Contributions (%)

One of the basic indicators covered by the annual Doing Business Report, dealing with taxation. Data refer to tax liabilities for a locally-owned limited liability company.

World Bank Group - Doing Business

VIS#

Average number of visits or required meetings with tax officials

Measures the impact of red tape in tax administration on business activity.

World Bank - Enterprise Surveys

%TAX

% of Firms Identifying Tax Rates as a Major Constraint

Measures the impact of taxation on business activity.

World Bank - Enterprise Surveys

%ADM

% of Firms Identifying Tax Administration as a Major Constraint

Measures the impact of red tape in tax administration on business activity.

World Bank - Enterprise Surveys

CRE%

Domestic credit to private sector (% of GDP)

Share of bank lending going to the private sector.

World Bank - World Development Indicators

DEF%

Bank non performing loans to total gross loans (%)

Share of problematic loans.

World Bank - World Development Indicators

INT%

Real Interest Rate (%)

Measures the cost of financing in real terms, i.e. net of inflation.

World Bank - World Development Indicators

SPR%

Average Interest Spread (%)

Measures the difference between on lending rates and the rates paid by banks to depositors. Is a broad measure of the efficiency and competitiveness of the banking sector.

World Bank - World Development Indicators

%FIN

% of Firms Identifying Access to Finance as a Major Constraint

Measures the impact of difficulties in accessing finance on business activity. The indicator refers to both accessibility and cost of finance.

World Bank - Enterprise Surveys

%LOA

% of Firms with Line of Credit or Loan from Financial Institutions

Measures the level of access to finance.

World Bank - Enterprise Surveys

LIT%

Literacy Rate - Adult (%)

Provides an indication of overall level of literacy.

World Bank - World Development Indicators

EN2%

School Enrollment - Secondary (% gross)

Measures the share of people enrolled in secondary education.

World Bank - World Development Indicators

EN3%

School Enrollment - Tertiary (% gross)

Measures the share of people attending university courses.

World Bank's World Development Indicators

%SKI

% of Firms Identifying Labor Skill Level as a Major Constraint

An indicator measuring the impact of lack of skilled workers on business activity.

World Bank - Enterprise Surveys

WEE#

Cost of Firing Workers (Weeks of salary)

One of the basic indicators covered by the annual Doing Business Report, dealing with labor related issues. Data refer to the cost of firing redundant workers, in terms of severance payment and penalties.

World Bank Group - Doing Business

%LAR

% of Firms Identifying Labor Regulations as a Major Constraint

Measures the impact of labor regulations on business activity.

World Bank - Enterprise Surveys

ROA#

Road Network (km)

Provides an indication of the total length of the road network.

World Bank - World Development Indicators

PAV%

Paved Roads (% of total)

Provides an indication of the total length of the paved road network.

World Bank - World Development Indicators

MOB#

Mobile Phone Subscribers (per 100 people)

A basic indicator of access to telephony.

ITU - ICT Statistics Dataset

TEL#

Telephone Mainlines (per 100 people)

A basic indicator of access to telephony.

ITU - ICT Statistics Dataset

FLI#

Number of Direct Flights to Other ECOWAS Destinations (per week)

Measures the level of interconnection among ECOWAS countries, in terms of air transport.

FlightStats website

POW#

Number of Power Outages in a Typical Month

Measures the problems experienced with infrastructure.

World Bank - Enterprise Surveys

WAT#

Number of Incidents of Water Insufficiency in a Typical Month

Measures the problems experienced with infrastructure.

World Bank - Enterprise Surveys

%TRA

% of Firms Identifying Transportation as a Major Constraint

Measures the impact of problems with transport on business activity.

World Bank - Enterprise Surveys

%ELE

% of Firms Identifying Electricity as a Major Constraint

Measures the impact of problems with power supply on business activity.

World Bank - Enterprise Surveys

TCO#

Delay in Obtaining a Mainline Telephone Connection (days)

Measures the problems experienced with infrastructure.

World Bank - Enterprise Surveys

AIR#

Number of Airlines Serving the Main National Airport (per week)

This indicator was added as a result of comments received during the Validation Meeting and is intended to complement the FLI# indicator. It can be regarded as another measure of the accessibility of ECOWAS countries, in terms of air transport.

FlightStats website

IPAS

Status and Importance of Investment Promotion Agency (Score)

One of the qualitative indicators introduced upon request from the ECOWAS Commission. The proposed scoring is on a 1 to 5 scale, the latter being the highest possible result.

IPA or other national authorities

COOS

Existence and Effectiveness of Investment-related Inter-service Coordinating Mechanisms (Score)

One of the qualitative indicators introduced upon request from the ECOWAS Commission. The proposed scoring is on a 1 to 5 scale, the latter being the highest possible result.

IPA or other national authorities

COPS

Existence and Effectiveness of Coordinating Mechanisms with Private Sector (Score)

One of the qualitative indicators introduced upon request from the ECOWAS Commission. The proposed scoring is on a 1 to 5 scale, the latter being the highest possible result.

IPA or other national authorities

GEOS

Geographical Presence of IPA (Score)

One of the qualitative indicators introduced upon request from the ECOWAS Commission. The proposed scoring is on a 1 to 5 scale, the latter being the highest possible result.

IPA or other national authorities

BIT#

Number of Investment Treaties Signed (total at year end)

Provides an indication of the network of international agreements reached to protect international investors' activities.

UNCTAD - Dataset for the World Investment Report

DTT#

Number of Double Taxation Treaties Signed (total at year end)

Provides an indication of the network of international agreements reached to protect international investors' activities.

UNCTAD - Dataset for the World Investment Report

UNS$

Labor Cost - Unskilled Workers (US$/year)

Unskilled labor is defined to include people working as drivers, janitors,  chambermaids, entry-level assembly line workers, and farmhands. The indicator is intended to measure total labor costs, including wages and benefits such as mandatory pension or social security contributions, healthcare, transportation, lodging, and any other benefits paid by the employer.

IPA or other national authorities. See also MIGA, Snapshot Africa, 2007

SKI$

Labor Cost - Skilled Workers (US$/year)

Skilled labor is defined to include people working as data entry clerks, customer service representatives, assembly line workers with special skills. For a definition of labor cost and other aspects, refer to the description provided for UNS$.

IPA or other national authorities. See also MIGA, Snapshot Africa, 2007

PRO$

Labor Cost - Professionals/Technical Workers (US$/year)

The category of professionals-technical workers includes people working as engineer, programmer, systems analyst, agronomist, accountant. For a definition of labor cost and other aspects, refer to the description provided for UNS$.

IPA or other national authorities. See also MIGA, Snapshot Africa, 2007

ELE$

Cost of Electricity (US$/kwh)

The cost of electricity is defined as the price charged by utilities per kilowatt-hour (kWh) for industrial electricity usage during peak operating periods. Capacity charges are excluded.

IPA or other national authorities. See also MIGA, Snapshot Africa, 2007

WAT$

Cost of Water (US$/m3)

The cost of water is defined as the price charged by utilities per cubic meter for industrial usage. Connection charges are excluded.

IPA or other national authorities. See also MIGA, Snapshot Africa, 2007

MOB$

Price basket for mobile (US$ per month)

A summary indicator of the cost of mobile telephony, considering calls and SMS with pre paid cards. For a full definition see ITU, Measuring the Information Society - The ICT Development Index, 2009

World Bank - World Development Indicators

TEL$

Price basket for residential fixed line  (US$ per month)

A summary indicator of the cost of fixed telephony, considering subscription charges and calls. For a full definition see ITU, Measuring the Information Society - The ICT Development Index, 2009.

World Bank - World Development Indicators

TUS$

Average cost of call to the US$ (US$ per three minutes)

The indicator provides a simpler and more intelligible measure of telecom costs.

World Bank - World Development Indicators

EXP$

Cost to export (US$ per container)

Fees levied on a 20-foot container. All the fees associated with completing the procedures to export the goods are included, with exclusion of tariffs or trade taxes.

World Bank Group - Doing Business

IMP$

Cost to import (US$ per container)

Fees levied on a 20-foot container. All the fees associated with completing the procedures to import the goods are included, with exclusion of tariffs or trade taxes.

World Bank Group - Doing Business

DIE$

Pump price for diesel fuel (US$ per liter)

Retail price for diesel fuel, inclusive of all taxes and charges.

GTZ - International Fuel Prices Dataset

GAS$

Pump price for gasoline (US$ per liter)

Retail price for gasoline (super), inclusive of all taxes and charges.

GTZ - International Fuel Prices Dataset

LAR$

Land rent (US$/sqm/year)

Rental fee for an annual lease for industrially zoned land or industrial estate, located in a major economic center.

IPA or other national authorities. See also MIGA, Snapshot Africa, 2007

LAP$

Land price (US$/sqm)

Purchasing price for industrially zoned land or industrial estate, located in a major economic center.

IPA or other national authorities. See also MIGA, Snapshot Africa, 2007

HOR$

Housing cost - Rent (US$/sqm/year)

Rental fee for an apartment of about 100 - 120 sqm located in the center of the most important city of each country.

IPA or other national authorities.

 See also Global Property Guide - Dataset on African real estate prices

HOP$

Housing cost - Purchase (US$/sqm)

Purchasing price for an apartment of about 100 - 120 sqm located in the center of the most important city of each country.

IPA or other national authorities.

 See also Global Property Guide - Dataset on African real estate prices

PRI%

Prime Lending Rate (%)

Interest rate charged by commercial banks to prime clients.

National and regional monetary authorities

MAX%

Maximum Lending Rate (%)

Maximum interest rate charged by commercial banks to clients.

National and regional monetary authorities