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

Exports of goods and services (% of GDP) in Belize was 36.11 as of 2020. Its highest value over the past 40 years was 65.36 in 2013, while its lowest value was 36.11 in 2020.

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
1980 44.95
1981 43.33
1982 38.94
1983 39.83
1984 50.68
1985 39.34
1986 45.05
1987 49.07
1988 50.32
1989 46.84
1990 48.97
1991 43.62
1992 49.69
1993 46.66
1994 49.80
1995 47.94
1996 49.98
1997 52.76
1998 52.57
1999 54.32
2000 52.97
2001 51.07
2002 52.98
2003 53.55
2004 50.87
2005 55.24
2006 61.48
2007 62.00
2008 63.17
2009 52.39
2010 59.06
2011 62.62
2012 64.45
2013 65.36
2014 62.15
2015 58.89
2016 52.18
2017 54.33
2018 56.36
2019 51.02
2020 36.11

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