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

Exports of goods and services (% of GDP) in Ecuador was 22.53 as of 2020. Its highest value over the past 60 years was 34.16 in 2008, while its lowest value was 8.50 in 1969.

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 9.55
1961 8.96
1962 10.24
1963 9.23
1964 8.90
1965 8.98
1966 10.49
1967 10.11
1968 11.04
1969 8.50
1970 9.44
1971 10.58
1972 12.41
1973 17.88
1974 22.65
1975 16.07
1976 16.04
1977 16.30
1978 14.73
1979 17.91
1980 17.15
1981 14.62
1982 14.66
1983 15.56
1984 17.38
1985 19.68
1986 15.63
1987 15.37
1988 19.01
1989 20.28
1990 22.76
1991 23.67
1992 24.13
1993 20.04
1994 20.28
1995 21.29
1996 22.27
1997 21.53
1998 17.89
1999 26.38
2000 32.13
2001 23.22
2002 21.49
2003 22.60
2004 24.55
2005 27.62
2006 30.33
2007 31.93
2008 34.16
2009 25.25
2010 27.89
2011 31.12
2012 30.16
2013 28.64
2014 28.05
2015 21.26
2016 19.50
2017 20.83
2018 22.60
2019 23.05
2020 22.53

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