European Union | Exports of goods and services (constant 2015 US$)

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. Data are in constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. 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
European Union
Records
63
Source
European Union | Exports of goods and services (constant 2015 US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 676846289825.03
1971 721011589760.15
1972 786028454360.82
1973 869140880816.29
1974 929508895983.17
1975 892248859422.37
1976 976832957873.65
1977 1029538840931.8
1978 1090900071695.7
1979 1171443028465.3
1980 1188090700163.9
1981 1255014490536.7
1982 1267999167928.7
1983 1311268433915
1984 1419218871669.4
1985 1484851980288.6
1986 1495195965483.9
1987 1552844814699.4
1988 1639686411233.9
1989 1758306862645.2
1990 1821781917225.7
1991 1900269611048.6
1992 1968242827044.5
1993 1997413460639.8
1994 2183365389677.8
1995 2383155186643.3
1996 2509406865871.2
1997 2784517861099.1
1998 2984837531084.8
1999 3152642825265
2000 3566615239896.2
2001 3708499351904.6
2002 3795780457665.4
2003 3858162321934.6
2004 4183351192041.8
2005 4427194076058.5
2006 4832150587268.8
2007 5175735580782.6
2008 5243402973163.4
2009 4618048186967.5
2010 5125616129260.5
2011 5469144346883.1
2012 5589834019944.4
2013 5706789974926.6
2014 5980771202074.1
2015 6376942117739.1
2016 6599919814804.8
2017 6980354986637.1
2018 7242098199406.9
2019 7490203932598.9
2020 6857775587467.9
2021 7628191804037.3
2022 8196224724430.8

European Union | Exports of goods and services (constant 2015 US$)

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. Data are in constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. 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
European Union
Records
63
Source