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

Exports of goods and services (% of GDP) in Cuba was 8.17 as of 2020. Its highest value over the past 50 years was 33.71 in 1985, while its lowest value was 8.17 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
1970 32.63
1971 32.63
1972 32.63
1973 32.62
1974 32.61
1975 32.64
1976 32.63
1977 32.63
1978 32.61
1979 32.56
1980 32.75
1981 32.58
1982 32.64
1983 32.53
1984 32.31
1985 33.71
1986 31.73
1987 32.90
1988 32.03
1989 31.16
1990 30.24
1991 21.93
1992 16.92
1993 13.19
1994 13.24
1995 13.40
1996 15.31
1997 14.92
1998 14.25
1999 14.54
2000 14.13
2001 13.23
2002 11.53
2003 12.95
2004 16.02
2005 21.02
2006 18.71
2007 20.34
2008 20.57
2009 17.46
2010 22.57
2011 25.10
2012 25.51
2013 24.10
2014 22.08
2015 17.15
2016 14.98
2017 14.55
2018 14.52
2019 12.21
2020 8.17

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