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

Exports of goods and services (% of GDP) in Cyprus was 76.03 as of 2020. Its highest value over the past 45 years was 76.03 in 2020, while its lowest value was 35.49 in 1975.

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
1975 35.49
1976 49.75
1977 47.81
1978 42.33
1979 44.68
1980 45.26
1981 50.25
1982 50.92
1983 50.41
1984 54.66
1985 48.74
1986 45.04
1987 47.29
1988 48.08
1989 51.46
1990 51.50
1991 47.09
1992 49.46
1993 47.49
1994 47.69
1995 66.76
1996 70.21
1997 69.19
1998 68.70
1999 66.93
2000 69.96
2001 68.21
2002 62.41
2003 57.76
2004 56.89
2005 55.69
2006 53.44
2007 53.26
2008 50.08
2009 48.72
2010 50.38
2011 53.50
2012 55.31
2013 61.36
2014 66.03
2015 70.10
2016 70.54
2017 73.94
2018 75.07
2019 75.59
2020 76.03

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