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

Exports of goods and services (% of GDP) in Guinea was 53.14 as of 2020. Its highest value over the past 34 years was 53.14 in 2020, while its lowest value was 19.20 in 1996.

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
1986 31.09
1987 31.63
1988 26.87
1989 31.09
1990 31.08
1991 30.33
1992 24.87
1993 26.52
1994 22.75
1995 21.12
1996 19.20
1997 19.56
1998 21.29
1999 21.64
2000 24.52
2001 28.58
2002 26.48
2003 25.96
2004 24.63
2005 34.79
2006 23.82
2007 23.55
2008 21.64
2009 22.52
2010 30.34
2011 32.60
2012 33.14
2013 26.47
2014 26.69
2015 21.50
2016 29.37
2017 44.66
2018 40.21
2019 29.96
2020 53.14

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