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

Exports of goods and services (% of GDP) in Vietnam was 105.55 as of 2020. Its highest value over the past 34 years was 106.80 in 2019, while its lowest value was 3.95 in 1988.

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
1986 6.62
1987 6.00
1988 3.95
1989 23.85
1990 36.04
1991 30.92
1992 34.75
1993 28.72
1994 34.01
1995 32.81
1996 40.87
1997 43.10
1998 44.85
1999 49.97
2000 53.92
2001 55.06
2002 54.74
2003 56.67
2004 59.73
2005 63.70
2006 67.72
2007 70.52
2008 70.34
2009 62.61
2010 72.00
2011 79.39
2012 80.03
2013 83.63
2014 86.40
2015 89.78
2016 93.62
2017 101.59
2018 105.83
2019 106.80
2020 105.55

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