DB CPU and SQL Execute elapsed time in Time Model Statistics in AWR report

Hello Experts,

This is the Time Model Statistics section of AWR report:

Statistic Name	Time (s)	% of DB Time
sql execute elapsed time	686,804.62	97.89
DB CPU	14,579.90	2.08
parse time elapsed	8,554.54	1.22
hard parse elapsed time	6,611.62	0.94
PL/SQL execution elapsed time	3,941.89	0.56
hard parse (sharing criteria) elapsed time	2,406.10	0.34
connection management call elapsed time	324.65	0.05
PL/SQL compilation elapsed time	34.66	0.00
hard parse (bind mismatch) elapsed time	25.44	0.00
repeated bind elapsed time	21.93	0.00
sequence load elapsed time	1.49	0.00
failed parse elapsed time	0.51	0.00
DB time	701,577.24
background elapsed time	5,921.55
background cpu time	117.49

I have a doubt.

It shows that 2.08% of DB time is spent consuming CPU and 97.89% of DB time is spent in executing SQL statements.