The Bahamas - Exports of goods and services (% of GDP)

Exports of goods and services (% of GDP) in The Bahamas was 24.28 as of 2020. Its highest value over the past 43 years was 82.66 in 1978, while its lowest value was 24.28 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
1977 82.65
1978 82.66
1979 68.87
1980 70.38
1981 67.38
1982 65.79
1983 66.57
1984 63.59
1985 64.79
1986 63.82
1987 61.32
1989 53.83
1990 54.16
1991 50.95
1992 50.25
1993 51.97
1994 51.02
1995 49.55
1996 48.04
1997 36.88
1998 34.66
1999 36.46
2000 38.05
2001 34.07
2002 36.18
2003 35.81
2004 38.22
2005 38.76
2006 38.31
2007 40.09
2008 39.49
2009 34.19
2010 34.95
2011 37.44
2012 38.13
2013 40.05
2014 37.82
2015 36.91
2016 33.47
2017 32.30
2018 36.02
2019 35.03
2020 24.28

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