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

Exports of goods and services (% of GDP) in Belgium was 80.01 as of 2020. Its highest value over the past 50 years was 83.18 in 2017, while its lowest value was 43.77 in 1971.

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 44.96
1971 43.77
1972 44.14
1973 48.03
1974 52.89
1975 45.92
1976 48.55
1977 47.51
1978 45.76
1979 49.92
1980 50.12
1981 54.06
1982 58.10
1983 60.40
1984 64.41
1985 62.45
1986 57.28
1987 55.87
1988 59.41
1989 63.57
1990 61.61
1991 60.23
1992 58.81
1993 56.11
1994 58.42
1995 60.11
1996 61.19
1997 64.79
1998 64.17
1999 64.56
2000 72.55
2001 71.61
2002 70.83
2003 69.04
2004 70.91
2005 74.28
2006 76.81
2007 78.30
2008 80.88
2009 68.83
2010 75.85
2011 80.70
2012 80.40
2013 79.32
2014 79.80
2015 77.81
2016 79.43
2017 83.18
2018 83.04
2019 82.19
2020 80.01

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