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

Exports of goods and services (% of GDP) in Norway was 32.25 as of 2020. Its highest value over the past 50 years was 45.92 in 2008, while its lowest value was 31.76 in 1987.

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
1970 36.48
1971 34.77
1972 34.95
1973 37.41
1974 39.86
1975 36.10
1976 35.97
1977 34.29
1978 35.98
1979 39.25
1980 42.75
1981 42.78
1982 40.96
1983 41.27
1984 42.26
1985 41.98
1986 33.59
1987 31.76
1988 32.46
1989 37.32
1990 39.42
1991 39.20
1992 37.14
1993 37.16
1994 37.34
1995 37.18
1996 39.94
1997 40.56
1998 36.91
1999 38.60
2000 45.73
2001 44.96
2002 40.37
2003 39.63
2004 41.09
2005 43.40
2006 44.64
2007 43.30
2008 45.92
2009 39.24
2010 39.76
2011 41.27
2012 40.68
2013 39.20
2014 39.00
2015 37.80
2016 35.46
2017 36.33
2018 37.97
2019 36.26
2020 32.25

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