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

Exports of goods and services (% of GDP) in Armenia was 29.76 as of 2020. Its highest value over the past 30 years was 47.22 in 1993, while its lowest value was 14.27 in 2008.

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
1990 35.00
1991 40.75
1992 39.82
1993 47.22
1994 39.33
1995 23.93
1996 23.24
1997 20.27
1998 19.00
1999 20.76
2000 22.16
2001 24.15
2002 27.83
2003 30.48
2004 28.19
2005 27.31
2006 22.15
2007 18.19
2008 14.27
2009 14.67
2010 19.75
2011 22.52
2012 27.56
2013 28.35
2014 28.56
2015 29.73
2016 33.74
2017 38.22
2018 39.39
2019 41.35
2020 29.76

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