that is average.
it allows you to get the max power from your location for a particular time (usually around 1000W/m2)
and get an idea of the power you will get from the panel.
this number is very misleading since it is a lab number, in very precise condition of light and temperature and probably applies only to new panels.
By nature, there are big chances you will always be under.
obviously , whatever efficiency a panel is, as they are sold by power (100, 250 300Watts) it is not really important.
a 12% efficiency just means a bigger panel than a 17% one, for same power.