Translation of Economic Terminology and
Texts
Theo...tlwl Part
WMlc 1 Sep. 28"', 2024
WMlt 3 Oct. 12"', 2021.
Plan
Partl
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I • What Is Economic: Transkrtlon? - Economic and Trading Abbreviation
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- Common Abbreviations used In Customs - Economic: Terminology
Portll
-English Passages - Arabic Passages
Simple Sentences
What is Economic Translation?
Economic t ranslation is an integral part of any International business
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process. The existence and prosperity of a company are impossible without
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I developing economic relations, local, national or international.
The collective expression ·economic translation• indudes the translation of
"'.arious texts on finances, banking, accounting, taxation, insurance, trade
'and economics. The translation of economic texts is rot her difficult
Authors and translators virtually mass- produce new, unique expressions
that are not always suitable for the intended purpose.
An additional dif fculty is the dif ~rence between the terminology used in
the United States, in certain countries of Europe and in Hungary.
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Economic translation is on essential port of any global business process.
The presence and flourishing of o corporation are incomprehensible
without developing international relations.
No doubt that economic translation is considered to be one of the most
dif fcult types of translation services. As translators should mark
specific state expressions and word mixtures, which may not only
become pointless but even, toke objectionable meaning if being
translated literally.
Economic translation involves the transformation of economic
,concepts, models, and data from one language to another. This
process allows policymakers and economists to accurately and
ef fciently shore and understand economic Information. By
understanding the role of economic translation, policymakers can
make informed decisions and formulate inclusive economic policies
that address local and global challenges.
One problem is the lack of equivalence between terms in dlf ftren t
languages. Economic terms may not hove direct translations, which
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Effective Economic Translation Strategies
Ef fictive economic translation strategies ore critical for companies
operating in global markets. It is necessary to make uae of
professional translators with economic experience to accurately
convey economic and financial concepts.
These translators possess o deep understanding of economic
termlnology, ensuring that complex economic concepts are
accurately translated and properly communicated to the target
audience.
Cooperation with economls,t s and subject matter expert, plays an
Important role In achieving et 1tctlve economic translations. By
involving these experts in the translation process. companies can
ensure the accuracy and relevance of the translated content.
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Types of economic and financial documents
Every company has a unique style and tone for their financial reports and
texts, and dif f!rent countries have dif f!rent standards. It is essential for the
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tronslotions to hove consistent IOr'lguoge ond the corre<:t ten'liinology.
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Like any specialized translation field. the economic: (financial) one Involves a
series of specific documents designed and drafted following a set of rules
that must be respected in the target document as well
Annual financial reports;
I Financial Statements;
Reports of mutual funds;
Reports and bank contracts;
Contracts for the insurance of movable and immovable property;
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Accounting documents;
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/ Audit reports;
Dividends.
Year-end reports .
Articles of association.
I nterlm reports.
Economic reports.
Economic and Trading Abbreviation
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BIDC: Business & Industry Dato Center.
I C of C : Chamber of Commerce.
CSCE: Conference on Security and Cooperation in Europe.
DAC: Development Assistance Committee (of OECD)
' DAV: Domestic Added Value.
FAO: Food and Agriculture Organization (Of the United Nations).
FDI: Foreign Direct Investment..
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GATT: General Agreement on Tariff and Trade.
GATS: General agreement on Trade in Services.
HDI: Human Development Index.
NADO: National Association of Development Organization.
NGOs: Non - Governmental Organizations.
/ OECD: Organization fOf Economic Cooperation and Development.
PA YE: Poy as You Earn.
QA: Quality Assurance.
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Common Abbreviations used in CUSTOMS
A/C: Account/Current -Average Cost (AC)
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A/D After Date - Aggregate Demand
/ AAR: Against All Risks
AO: Advisory Opinion
APP: Actual Price Paid
ATA Carnet: ATA
A WB: Air Waybill
B/0: Bonk Draft
B/E: Bill of Exchange - Bill of Entry
B/P: Bills Payable
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B/R: Bills Receivable
B/S: Bill of Sole
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/ D/D: Demond Drott
0/0: Delivery Order
DIC: Delivered -in-charge
DIS: Delivery into Store
E&OE: Errors and Omissions excepted
IF: Inland Freight
L/A: Letter of Authority
L/C: Letter of Credit
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conomic Te. i, ilnology
con ■umer - anyone (person or busi1ess) that uHs (consunn) goods or services
leverage - the extant to which on investment is funded with borrowed money (debt) ; the
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1 Investor is relying on earning a return period pay off the debt and stillmokeo profit
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llquldlty - the extent to which assets could quickly be converted to cash; for example, a
checking account Is more liquid than a one-year certificate of d41posk
market - any mean s that buyers and s•llers us• ID e>cchonge money for goods or services
consumer price Index (CPI) - overage change in the cost to consumers of certain goods
and services Cll/er a set period; a CPI i1creose is on indicator of i1ftotion
economk: growth - on Increase in production of goods and services typlcolly measured In
th·• context of changes In GDP or GDP
Income - money a business or a person earns in e>cchonge for providing services or
products to a purchaser or employer
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