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

Exports of goods and services (% of GDP) in Brunei was 57.36 as of 2020. Its highest value over the past 46 years was 95.06 in 1979, while its lowest value was 49.57 in 2017.

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
1974 90.05
1975 90.06
1976 93.65
1977 94.63
1978 95.01
1979 95.06
1980 93.36
1981 93.14
1982 89.34
1983 88.27
1989 61.81
1990 61.81
1991 66.68
1992 57.87
1993 54.76
1994 51.08
1995 59.72
1996 59.93
1997 57.19
1998 50.47
1999 55.82
2000 67.35
2001 69.53
2002 67.12
2003 69.29
2004 68.80
2005 70.17
2006 71.72
2007 67.85
2008 78.30
2009 72.78
2010 67.41
2011 69.51
2012 70.16
2013 68.04
2014 68.18
2015 52.21
2016 49.58
2017 49.57
2018 51.93
2019 57.95
2020 57.36

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