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

Exports of goods and services (% of GDP) in Uruguay was 25.37 as of 2020. Its highest value over the past 60 years was 32.11 in 2004, while its lowest value was 10.28 in 1971.

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
1960 13.79
1961 14.20
1962 11.34
1963 12.02
1964 11.94
1965 18.40
1966 17.13
1967 14.61
1968 15.18
1969 13.40
1970 13.89
1971 10.28
1972 15.44
1973 10.42
1974 14.38
1975 16.78
1976 19.56
1977 19.90
1978 18.85
1979 16.83
1980 15.03
1981 15.20
1982 14.33
1983 25.69
1984 26.58
1985 26.76
1986 26.22
1987 21.65
1988 22.06
1989 23.49
1990 23.53
1991 20.69
1992 20.45
1993 19.13
1994 19.77
1995 19.00
1996 19.67
1997 17.46
1998 16.42
1999 15.10
2000 16.70
2001 16.80
2002 20.62
2003 27.43
2004 32.11
2005 30.40
2006 30.30
2007 29.09
2008 30.20
2009 27.10
2010 26.34
2011 26.42
2012 25.92
2013 23.35
2014 23.54
2015 22.48
2016 26.95
2017 26.15
2018 26.40
2019 27.75
2020 25.37

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