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

Exports of goods and services (% of GDP) in Papua New Guinea was 72.16 as of 2004. Its highest value over the past 43 years was 72.16 in 2004, while its lowest value was 16.10 in 1961.

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
1961 16.10
1962 16.21
1963 17.41
1964 18.31
1965 18.03
1966 16.79
1967 17.37
1968 18.86
1969 18.92
1970 18.48
1971 21.37
1972 31.21
1973 44.88
1974 46.88
1975 39.98
1976 41.77
1977 44.97
1978 41.94
1979 45.48
1980 43.18
1981 38.24
1982 36.83
1983 36.20
1984 39.44
1985 42.11
1986 43.58
1987 43.17
1988 43.25
1989 40.65
1990 40.62
1991 42.26
1992 47.85
1993 52.64
1994 53.53
1995 61.04
1996 59.40
1997 49.16
1998 54.04
1999 63.12
2000 66.18
2001 65.33
2002 60.92
2003 69.42
2004 72.16

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