IBRD only - Exports of goods and services (% of GDP)

Exports of goods and services (% of GDP) in IBRD only was 23.74 as of 2020. Its highest value over the past 60 years was 32.88 in 2006, while its lowest value was 10.55 in 1965.

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
1960 10.85
1961 11.40
1962 11.12
1963 12.09
1964 10.74
1965 10.55
1966 10.83
1967 10.78
1968 10.83
1969 10.70
1970 10.67
1971 10.88
1972 11.56
1973 13.51
1974 17.79
1975 15.98
1976 17.06
1977 16.90
1978 16.29
1979 18.60
1980 19.36
1981 17.27
1982 17.67
1983 18.32
1984 18.75
1985 17.29
1986 14.88
1987 17.60
1988 19.07
1989 19.96
1990 18.68
1991 18.57
1992 25.95
1993 21.62
1994 20.94
1995 21.69
1996 21.45
1997 22.00
1998 21.87
1999 23.67
2000 26.19
2001 25.37
2002 27.20
2003 28.84
2004 31.06
2005 32.04
2006 32.88
2007 31.99
2008 32.11
2009 26.53
2010 28.01
2011 28.59
2012 28.04
2013 27.30
2014 26.43
2015 24.93
2016 23.85
2017 24.42
2018 25.47
2019 24.53
2020 23.74

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