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

Exports of goods and services (% of GDP) in Panama was 39.61 as of 2020. Its highest value over the past 60 years was 78.23 in 2011, while its lowest value was 39.61 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
1960 45.79
1961 47.19
1962 53.18
1963 52.66
1964 52.47
1965 54.44
1966 55.79
1967 56.35
1968 57.30
1969 57.41
1970 55.79
1971 54.32
1972 53.45
1973 53.57
1974 67.59
1975 68.99
1976 62.85
1977 65.31
1978 59.03
1979 58.95
1980 65.03
1981 62.29
1982 56.81
1983 47.14
1984 44.51
1985 45.44
1986 47.11
1987 47.36
1988 49.81
1989 52.26
1990 57.49
1991 64.35
1992 66.36
1993 64.06
1994 66.04
1995 66.85
1996 71.29
1997 76.99
1998 67.65
1999 56.85
2000 62.01
2001 62.14
2002 57.64
2003 54.34
2004 57.77
2005 64.50
2006 66.17
2007 71.46
2008 78.09
2009 69.81
2010 70.04
2011 78.23
2012 75.19
2013 65.16
2014 55.36
2015 47.68
2016 41.97
2017 41.80
2018 42.79
2019 41.21
2020 39.61

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