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

Exports of goods and services (% of GDP) in Australia was 23.98 as of 2020. Its highest value over the past 60 years was 24.17 in 2019, while its lowest value was 11.93 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 12.97
1961 12.38
1962 13.92
1963 12.98
1964 14.91
1965 13.20
1966 12.91
1967 12.86
1968 12.28
1969 11.93
1970 12.95
1971 12.64
1972 12.80
1973 14.13
1974 13.13
1975 14.25
1976 13.50
1977 14.00
1978 13.60
1979 14.28
1980 16.41
1981 14.88
1982 13.51
1983 13.57
1984 13.55
1985 15.23
1986 14.98
1987 15.46
1988 15.96
1989 15.12
1990 15.12
1991 16.03
1992 16.66
1993 17.54
1994 17.97
1995 17.88
1996 18.90
1997 19.14
1998 19.57
1999 18.32
2000 19.42
2001 22.18
2002 20.75
2003 19.07
2004 17.18
2005 18.24
2006 19.88
2007 20.21
2008 20.17
2009 23.03
2010 19.82
2011 21.45
2012 21.50
2013 19.99
2014 21.10
2015 20.07
2016 19.27
2017 21.23
2018 21.87
2019 24.17
2020 23.98

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