Lower middle income - Exports of goods and services (constant 2010 US$)

The latest value for Exports of goods and services (constant 2010 US$) in Lower middle income was 1,713,800,000,000 as of 2020. Over the past 60 years, the value for this indicator has fluctuated between 1,849,820,000,000 in 2019 and 132,293,000,000 in 1962.

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. Data are in constant 2010 U.S. dollars.

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

See also:

Year Value
1960 147,687,000,000
1961 154,558,000,000
1962 132,293,000,000
1963 151,099,000,000
1964 163,915,000,000
1965 175,886,000,000
1966 192,448,000,000
1967 208,171,000,000
1968 228,241,000,000
1969 256,139,000,000
1970 286,092,000,000
1971 307,275,000,000
1972 353,525,000,000
1973 393,135,000,000
1974 387,193,000,000
1975 364,333,000,000
1976 402,285,000,000
1977 398,610,000,000
1978 354,894,000,000
1979 338,354,000,000
1980 267,608,000,000
1981 272,296,000,000
1982 290,317,000,000
1983 314,244,000,000
1984 312,277,000,000
1985 301,197,000,000
1986 307,385,000,000
1987 346,088,000,000
1988 369,592,000,000
1989 407,538,000,000
1990 437,286,000,000
1991 444,157,000,000
1992 404,477,000,000
1993 423,373,000,000
1994 452,122,000,000
1995 473,852,000,000
1996 506,018,000,000
1997 526,142,000,000
1998 544,169,000,000
1999 533,785,000,000
2000 610,129,000,000
2001 617,062,000,000
2002 672,027,000,000
2003 736,382,000,000
2004 841,204,000,000
2005 936,272,000,000
2006 1,045,140,000,000
2007 1,100,910,000,000
2008 1,201,680,000,000
2009 1,104,580,000,000
2010 1,231,050,000,000
2011 1,348,870,000,000
2012 1,374,810,000,000
2013 1,424,720,000,000
2014 1,470,210,000,000
2015 1,468,980,000,000
2016 1,552,440,000,000
2017 1,694,960,000,000
2018 1,836,240,000,000
2019 1,849,820,000,000
2020 1,713,800,000,000

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

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: Gap-filled total

Base Period: 2010

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts