Georgia - Exports of goods and services (% of GDP)

Exports of goods and services (% of GDP) in Georgia was 37.29 as of 2020. Its highest value over the past 33 years was 57.77 in 1994, while its lowest value was 13.33 in 1996.

Definition: Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1987 41.55
1988 42.47
1989 42.36
1990 40.00
1991 27.60
1992 35.66
1993 46.89
1994 57.77
1995 25.50
1996 13.33
1997 15.61
1998 16.46
1999 19.06
2000 22.99
2001 24.46
2002 29.23
2003 31.46
2004 31.13
2005 33.26
2006 32.47
2007 30.82
2008 28.26
2009 29.55
2010 32.95
2011 34.69
2012 36.52
2013 41.72
2014 39.93
2015 40.86
2016 40.80
2017 46.53
2018 50.56
2019 54.82
2020 37.29

Limitations and Exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on exports and imports are compiled from customs reports and balance of payments data. Although the data from the payments side provide reasonably reliable records of cross-border transactions, they may not adhere strictly to the appropriate definitions of valuation and timing used in the balance of payments or corresponds to the change-of ownership criterion. This issue has assumed greater significance with the increasing globalization of international business. Neither customs nor balance of payments data usually capture the illegal transactions that occur in many countries. Goods carried by travelers across borders in legal but unreported shuttle trade may further distort trade statistics.

Statistical Concept and Methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts