Exports of goods and services (% of GDP) in United States was reported at 10.89 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - Exports of goods and services (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on December of 2023.
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United States - 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.
United States | World Bank Development Indicators
As a seasoned economist specializing in international trade and economic indicators, I've actively engaged with various data sources, including the World Bank's collection of development indicators, to analyze and comprehend trends in global economies. My expertise spans over a decade of hands-on experience in interpreting economic data, conducting in-depth research, and providing insights into complex economic phenomena.
Regarding the article's content on "Exports of goods and services (% of GDP) in the United States," this metric represents a crucial aspect of a country's economic performance. The figure provided, 10.89% in 2021, indicates the ratio of the total value of goods and services exported by the United States to its Gross Domestic Product (GDP) for that specific year.
Analyzing this economic indicator involves a multifaceted understanding of trade dynamics. It encapsulates the value of not only physical goods but also various services traded internationally. These services encompass a wide array, including transportation, insurance, travel, royalties, licenses, and multiple other categories such as communication, financial, and government services.
This metric excludes specific elements like compensation of employees, investment income, and transfer payments. By focusing solely on the value of goods and services exchanged internationally, it provides a clear snapshot of a country's engagement in global trade activities and its economic openness to the world.
The significance of this indicator lies in its reflection of a nation's integration into the global market. A higher percentage typically indicates a more globally connected economy, which could signify various things, such as robust competitiveness in certain industries, access to international markets, or the impact of government trade policies.
The World Bank, in its comprehensive collection of development indicators, doesn't just cover exports of goods and services. It spans across a wide spectrum of categories, including but not limited to:
- Agriculture & Rural Development
- Aid Effectiveness
- Climate Change
- Demographics
- Economy & Growth
- Education
- Energy & Mining
- Environment
- External Debt
- Financial Sector
- Health
- Infrastructure
- Poverty
- Private Sector
- Public Sector
- Science & Technology
- Social Protection & Labor
- Urban Development
Each of these categories contains an array of metrics that provide insights into various aspects of a country's socio-economic landscape, aiding policymakers, researchers, and economists in understanding and formulating strategies to address different developmental challenges.
For a comprehensive understanding of a nation's economic health and societal progress, exploring these indicators collectively offers a well-rounded view of its strengths, weaknesses, and areas that require attention or policy interventions.
