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

Exports of goods and services (% of GDP) in Spain was 30.62 as of 2020. Its highest value over the past 50 years was 35.16 in 2018, while its lowest value was 12.13 in 1970.

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 12.13
1971 13.01
1972 13.34
1973 13.32
1974 13.18
1975 12.38
1976 12.57
1977 13.25
1978 13.88
1979 13.70
1980 14.29
1981 16.28
1982 16.98
1983 19.08
1984 21.30
1985 20.86
1986 18.20
1987 17.72
1988 17.30
1989 16.60
1990 15.72
1991 15.76
1992 16.19
1993 17.71
1994 20.31
1995 21.83
1996 23.03
1997 25.67
1998 26.10
1999 26.35
2000 28.56
2001 27.86
2002 26.55
2003 25.63
2004 25.41
2005 24.98
2006 25.24
2007 25.98
2008 25.62
2009 23.06
2010 25.95
2011 29.53
2012 31.46
2013 32.96
2014 33.48
2015 33.63
2016 33.88
2017 35.15
2018 35.16
2019 34.95
2020 30.62

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