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

Exports of goods and services (% of GDP) in Austria was 51.44 as of 2020. Its highest value over the past 50 years was 55.44 in 2019, while its lowest value was 26.92 in 1973.

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
1970 27.39
1971 27.04
1972 26.93
1973 26.92
1974 29.11
1975 28.09
1976 28.75
1977 27.95
1978 29.12
1979 30.88
1980 31.69
1981 33.00
1982 31.74
1983 30.48
1984 32.75
1985 34.92
1986 32.00
1987 31.41
1988 33.07
1989 35.02
1990 35.70
1991 34.59
1992 33.16
1993 31.46
1994 32.16
1995 33.53
1996 34.25
1997 37.03
1998 38.35
1999 39.36
2000 43.35
2001 44.62
2002 45.32
2003 44.57
2004 46.87
2005 48.62
2006 50.84
2007 52.56
2008 53.25
2009 45.21
2010 51.26
2011 53.95
2012 53.97
2013 53.44
2014 53.39
2015 53.09
2016 52.41
2017 54.05
2018 55.44
2019 55.44
2020 51.44

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