Colombia | Exports of goods and services (% of GDP)

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. 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.
Publisher
The World Bank
Origin
Republic of Colombia
Records
63
Source
Colombia | Exports of goods and services (% of GDP)
1960 15.69457914
1961 12.9913517
1962 12.22350581
1963 11.98285511
1964 11.95749707
1965 12.13463828
1966 9.98157877
1967 11.21248698
1968 11.77318696
1969 12.53938135
1970 13.27051699
1971 11.96643701
1972 13.25482296
1973 14.92432966
1974 14.54011365
1975 15.81726354
1976 17.04623593
1977 16.86565768
1978 16.62596607
1979 15.2164715
1980 16.21798079
1981 11.85123057
1982 10.91283459
1983 10.4595177
1984 11.88479234
1985 13.80777598
1986 18.83724644
1987 16.9496696
1988 16.28616763
1989 18.00256341
1990 18.86266903
1991 19.0945389
1992 16.5185547
1993 15.18449529
1994 14.99836183
1995 14.53374289
1996 15.1994617
1997 14.84154374
1998 15.00735084
1999 18.34657875
2000 15.91513972
2001 15.38713577
2002 14.81556968
2003 16.57529971
2004 16.77075142
2005 16.97104374
2006 17.72858775
2007 16.43314213
2008 18.10959514
2009 16.42449569
2010 16.34084476
2011 19.27650507
2012 18.81120528
2013 18.08643972
2014 16.63474911
2015 15.65021151
2016 14.71713928
2017 15.14528975
2018 15.89971968
2019 15.86803865
2020 13.53215561
2021 16.32829834
2022 20.58372796

Colombia | Exports of goods and services (% of GDP)

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. 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.
Publisher
The World Bank
Origin
Republic of Colombia
Records
63
Source