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

Exports of goods and services (% of GDP) in Guatemala was 16.90 as of 2020. Its highest value over the past 60 years was 28.66 in 2001, while its lowest value was 11.79 in 1962.

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 12.64
1961 11.95
1962 11.79
1963 14.29
1964 15.39
1965 16.79
1966 18.94
1967 16.21
1968 16.73
1969 17.80
1970 18.57
1971 17.29
1972 18.91
1973 20.88
1974 22.41
1975 21.72
1976 21.57
1977 24.46
1978 21.48
1979 21.35
1980 22.19
1981 17.09
1982 14.79
1983 12.99
1984 13.00
1985 11.95
1986 16.05
1987 15.85
1988 16.10
1989 17.31
1990 21.03
1991 17.95
1992 18.07
1993 17.70
1994 17.52
1995 19.26
1996 17.81
1997 17.96
1998 18.17
1999 19.00
2000 20.20
2001 28.66
2002 26.73
2003 26.18
2004 27.42
2005 25.45
2006 25.34
2007 25.98
2008 25.12
2009 24.37
2010 26.23
2011 27.07
2012 25.27
2013 22.00
2014 21.74
2015 19.83
2016 18.75
2017 18.50
2018 18.20
2019 17.65
2020 16.90

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