Saudi Arabia - Exports of goods and services (% of GDP)

Exports of goods and services (% of GDP) in Saudi Arabia was 26.34 as of 2020. Its highest value over the past 52 years was 99.70 in 1973, while its lowest value was 26.34 in 2020.

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
1968 47.73
1969 48.19
1970 50.80
1971 53.98
1972 61.59
1973 99.70
1974 62.94
1975 73.33
1976 59.73
1977 57.42
1978 49.32
1979 54.86
1980 63.46
1981 62.82
1982 50.73
1983 38.47
1984 34.52
1985 30.07
1986 26.70
1987 30.86
1988 31.32
1989 33.75
1990 40.33
1991 38.31
1992 39.11
1993 34.35
1994 34.00
1995 37.34
1996 40.02
1997 39.16
1998 29.63
1999 34.67
2000 43.41
2001 39.63
2002 40.95
2003 45.85
2004 50.99
2005 57.05
2006 59.83
2007 59.94
2008 62.11
2009 47.09
2010 49.57
2011 56.05
2012 54.27
2013 51.92
2014 46.88
2015 33.32
2016 31.14
2017 34.85
2018 40.04
2019 36.05
2020 26.34

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