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

Exports of goods and services (% of GDP) in Mongolia was 57.66 as of 2020. Its highest value over the past 39 years was 60.79 in 2004, while its lowest value was 18.27 in 1990.

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
1981 23.87
1982 26.26
1983 26.61
1984 29.18
1985 26.73
1986 30.18
1987 30.80
1988 28.45
1989 22.49
1990 18.27
1991 54.07
1992 28.93
1993 59.33
1994 44.63
1995 40.54
1996 35.52
1997 52.67
1998 47.84
1999 50.16
2000 54.00
2001 50.32
2002 50.73
2003 52.35
2004 60.79
2005 58.77
2006 59.44
2007 59.61
2008 54.02
2009 50.28
2010 46.68
2011 52.55
2012 43.57
2013 38.89
2014 52.25
2015 44.18
2016 50.87
2017 59.17
2018 58.16
2019 59.22
2020 57.66

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