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

Exports of goods and services (% of GDP) in Romania was 37.26 as of 2020. Its highest value over the past 30 years was 42.02 in 2017, while its lowest value was 16.73 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
1990 16.73
1991 17.60
1992 27.79
1993 23.02
1994 24.90
1995 25.63
1996 26.46
1997 28.20
1998 23.02
1999 26.66
2000 21.59
2001 22.11
2002 24.01
2003 24.21
2004 25.74
2005 24.54
2006 24.77
2007 24.71
2008 26.16
2009 26.02
2010 32.38
2011 37.06
2012 37.53
2013 40.03
2014 41.43
2015 41.39
2016 41.78
2017 42.02
2018 41.86
2019 40.38
2020 37.26

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