Eureopean Sales Listing Report + the Setup: Econominc Zone ESL ?

We have multiple operating countries (MO's), and now the new ESL(1) report.

Can anyone confirm for me that the Economic Zone setup (e.g.Inventory Set-up>Movement Statistics>Economic Zones) dictates which countries will appear in this report?

I also assume that, when a 'home' country runs the report, the report will not include any sales made within that home country even though that country is in the ESL Economic zone set-up.  Is that assumption correct?  Hows does the report know - is it using a profile or a user territory or something to work this out?

Grateful for intelligence on this, thanks.  Only asking because I've noticed that the set-up ESL economic Zone  list is out of date because no-one here knew to update it!