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

Exports of goods and services (% of GDP) in Kuwait was 53.29 as of 2019. Its highest value over the past 54 years was 84.96 in 1974, while its lowest value was 16.90 in 1991.

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
1965 67.69
1966 65.69
1967 59.52
1968 61.72
1969 63.50
1970 59.82
1971 66.35
1972 68.60
1973 71.93
1974 84.96
1975 80.47
1976 77.93
1977 72.03
1978 70.54
1979 77.97
1980 78.35
1981 69.50
1982 54.50
1983 59.13
1984 60.11
1985 53.67
1986 46.19
1987 52.54
1988 47.56
1989 52.40
1990 44.94
1991 16.90
1992 40.47
1993 47.77
1994 50.85
1995 52.35
1996 52.28
1997 52.85
1998 43.86
1999 45.93
2000 56.47
2001 51.31
2002 44.62
2003 52.09
2004 56.92
2005 63.98
2006 65.55
2007 63.42
2008 66.76
2009 59.43
2010 66.67
2011 73.20
2012 74.73
2013 70.86
2014 68.51
2015 53.77
2016 47.63
2017 51.20
2018 57.50
2019 53.29

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