This page provides a glossary of terms and abbreviations used in the Trade Survey for Wales reports.
Contents
Glossary of Terms
Ceased trading
A business that has ceased trading is no longer operating or engaged in economic activity.
Dormant
A dormant company is a company that, in legal terms, has 'no significant accounting transactions' during a financial year.
Exports
Sales to destinations outside of the UK.
General Data Protection Regulation
The regulation in EU law on data protection and privacy in the European Union and the European Economic Area.
Goods
Goods or materials of a company’s own production.
Imports
Purchases originating from countries outside of the UK.
Inter-Departmental Business Register
The Inter-Departmental Business Register is a comprehensive list of UK businesses used by government for statistical purposes.
Large businesses
Businesses with employment of 250 or more.
Medium businesses
Businesses with employment between 50 to 249.
Purchases
The purchase of any goods or services by a business, including sub-contracting of services, purchase of goods or services from other parts of respondent’s business and purchases from suppliers outside of Wales (imports) and the UK (international imports).
Rest of UK (RUK)
All of the United Kingdom except Wales.
Sales
The sales of any goods or services by a business to a customer, including sub-contracting of services, provision of goods or services to other parts of respondent’s business and sales made to customers outside of Wales (exports) and the UK (international exports).
Services
Provision or supply of services to another business or customer.
Small businesses
Businesses with 3 to 49 employees.
Total trade
The value of sales + purchases.
Unallocated
The value of any sales or purchases that was not possible to allocate to a location or break down further.
Abbreviations
EU
European Union member states
GDPR
General Data Protection Regulation
HMRC
His Majesty’s Revenue & Customs
IDBR
Inter-Departmental Business Register
IFF
IFF Research
Non-EU
Rest of World (countries beyond the EU)
n.e.c.
Not elsewhere classified
ONS
Office for National Statistics
RIM
Random Iterative Method
RUK
Rest of UK
SIC
Standard Industrial Classification
TSW
Trade Survey for Wales
WG
Welsh Government