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

Exports of goods and services (% of GDP) in Colombia was 13.52 as of 2020. Its highest value over the past 60 years was 19.28 in 2011, while its lowest value was 9.98 in 1966.

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 15.69
1961 12.99
1962 12.22
1963 11.98
1964 11.96
1965 12.13
1966 9.98
1967 11.21
1968 11.77
1969 12.54
1970 13.27
1971 11.97
1972 13.25
1973 14.92
1974 14.54
1975 15.82
1976 17.05
1977 16.87
1978 16.63
1979 15.22
1980 16.22
1981 11.85
1982 10.91
1983 10.46
1984 11.88
1985 13.81
1986 18.84
1987 16.95
1988 16.29
1989 18.00
1990 18.86
1991 19.09
1992 16.52
1993 15.18
1994 15.00
1995 14.53
1996 15.20
1997 14.84
1998 15.01
1999 18.35
2000 15.92
2001 15.39
2002 14.82
2003 16.58
2004 16.77
2005 16.97
2006 17.73
2007 16.43
2008 18.11
2009 16.42
2010 16.34
2011 19.28
2012 18.81
2013 18.09
2014 16.63
2015 15.65
2016 14.72
2017 15.15
2018 15.90
2019 15.85
2020 13.52

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