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

Exports of goods and services (% of GDP) in Luxembourg was 204.69 as of 2020. Its highest value over the past 50 years was 205.48 in 2019, while its lowest value was 83.73 in 1972.

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 89.79
1971 89.04
1972 83.73
1973 90.24
1974 103.68
1975 93.42
1976 89.02
1977 87.74
1978 84.63
1979 91.85
1980 89.42
1981 87.53
1982 89.91
1983 91.16
1984 102.12
1985 109.56
1986 100.26
1987 97.47
1988 99.04
1989 101.81
1990 99.71
1991 99.61
1992 98.60
1993 98.86
1994 102.14
1995 104.48
1996 107.98
1997 116.22
1998 127.70
1999 129.94
2000 147.64
2001 146.20
2002 136.36
2003 132.85
2004 143.73
2005 153.82
2006 167.74
2007 169.58
2008 161.49
2009 147.93
2010 162.71
2011 169.49
2012 171.21
2013 176.38
2014 182.78
2015 191.84
2016 191.10
2017 192.75
2018 196.42
2019 205.48
2020 204.69

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