Which country has the most Exports of goods and services (annual % growth)?

Timor-Leste has the highest Exports of goods and services (annual % growth) at 209.07%.

Which country has the least Exports of goods and services (annual % growth)?

Vanuatu has the lowest Exports of goods and services (annual % growth) at -71.09%.

What is the average Exports of goods and services (annual % growth) among the listed countries?

The average Exports of goods and services (annual % growth) among the listed countries is approximately -11.05%.

How is Exports of goods and services defined?

Exports of goods and services represent the value of all goods and other market services provided to the rest of the world, excluding compensation of employees, investment income, and transfer payments.

Why is Exports of goods and services an important macroeconomic statistic?

Exports of goods and services are crucial for a country's economy as they reflect its international trade competitiveness and impact its GDP growth, employment levels, and currency strength.

Exports of goods and services (annual % growth)

Countries By Exports of goods and services (annual % growth)

Key points

Timor-Leste experienced the highest annual % growth in exports of goods and services at 209.07%, indicating a significant increase in trade activity.
Vanutau had the lowest annual % growth in exports at -71.09%, pointing to a severe decline in trade performance.
The average annual % growth in exports among the listed countries is -11.05%, suggesting an overall downturn in global trade for these nations.
A negative growth rate in exports indicates a reduction in the value of goods and services being sold to international markets.
Several countries such as Albania, Argentina, and Lebanon experienced substantial negative growth in exports, further highlighting global economic challenges.

Official Definition of Exports of goods and services (annual % growth)

Annual growth rate of exports of goods and services based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. 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.

Importance

Exports of goods and services (annual % growth) is a crucial macroeconomic statistic for a country as it reflects the rate at which the country's exports are growing on an annual basis, based on constant local currency and 2015 prices in U.S. dollars. This statistic matters because:

High Values: A high growth rate in exports indicates a positive trend for the country's economy. It signifies increased demand for the country's goods and services in the global market, leading to higher revenue, job creation, and economic growth.
Low Values: Conversely, a low or negative growth rate in exports can be concerning. It may indicate a decline in international competitiveness, reduced demand for the country's products, trade imbalances, or economic slowdown. This could lead to reduced income, trade deficits, and potential economic challenges.

Top 10 Countries by Exports of goods and services (annual % growth)

Bottom 10 Countries by Exports of goods and services (annual % growth)

Regions

Europe

Analysis of the Exports of goods and services (annual % growth) statistic reveals a wide range of performance among the listed countries. Countries like Ireland demonstrate robust growth at 11.53%, indicating a strong export sector, while nations such as Montenegro face a significant decline of -47.64%, suggesting potential economic challenges. Advantages of high export growth include increased revenue, job creation, and economic diversity. However, disadvantages may include vulnerability to global market fluctuations. Positive growth, as seen in Ireland, can lead to enhanced development, improved infrastructure, and heightened global competitiveness. Conversely, negative growth, as evident in Montenegro, may necessitate policy interventions to stimulate economic recovery and reduce dependency on external markets.

Far East: East Asia, SE Asia, Australia

Regarding the Exports of goods and services (annual % growth) statistic for the selected countries, there is a diverse range of performance levels. Brunei stands out with a strong growth of 7.52%, while countries like Thailand and the Philippines experienced significant declines of -19.68% and -16.14% respectively. These figures reflect each country's economic resilience and competitiveness in the global market. For Brunei, this growth signifies a positive economic outlook and potential for increased trade partnerships. Meanwhile, Thailand and the Philippines may face challenges in their export sectors, impacting their GDP growth and trade balance. It is crucial for these nations to strengthen their export strategies to regain momentum and drive sustainable development.

ASEAN

The data on "Exports of goods and services (annual % growth)" show a varied performance among the listed countries. Brunei and Vietnam exhibit positive growth rates of 7.52% and 4.06%, respectively, indicating healthy export expansion. On the other hand, Cambodia, Indonesia, Malaysia, the Philippines, Singapore, and Thailand are experiencing negative growth rates, with the Philippines and Thailand facing significant declines of -16.14% and -19.68%, respectively. Brunei and Vietnam stand to benefit from increased export revenues, potentially boosting economic development. However, countries with negative growth rates like the Philippines and Thailand may face challenges such as reduced foreign exchange earnings, impacting their overall economic growth and stability.

Latin America

The annual % growth in exports of goods and services for the listed countries is quite varied, ranging from -30.32% for the Dominican Republic to -0.91% for Chile. This statistic indicates a decline in the export sector for most countries, which could lead to negative impacts such as economic instability, reduced foreign exchange earnings, and potential trade deficits. Countries like Colombia, El Salvador, and Honduras are experiencing significant contractions, possibly due to external factors like global demand fluctuations or internal challenges in their export industries. Conversely, countries with milder declines like Mexico and Guatemala may have more resilient economies or better export diversification strategies.

Middle East

The annual % growth in exports of goods and services varies significantly among the listed countries. Countries like Lebanon, Libya, and Armenia show a significant decline in exports, while Syria demonstrates a substantial increase. These fluctuations can have severe implications for the economic development of each country. For instance, a decrease in exports may lead to a trade balance deficit and economic challenges. On the other hand, an increase in exports can boost economic growth and improve the country's trade position. Each country's advantage lies in potential market diversification, while the disadvantage is overreliance on specific export sectors, impacting overall economic stability.

Rivals

Anglosphere v BRICS

In analyzing the Exports of goods and services (annual % growth) for the selected countries, it is evident that each country is experiencing a decline in this macroeconomic indicator. New Zealand is facing the most significant decrease at -17.63%, followed by Canada, South Africa, and the United States. This decline in exports growth may indicate weakened global demand or domestic supply chain disruptions. For Australia, Brazil, and the United Kingdom, the decrease is comparatively moderate. This statistic can have adverse effects on a country's development, causing economic slowdowns, job losses, and reduced government revenue. On the flip side, it could also prompt these nations to reassess their export strategies, innovate industries, and diversify markets to mitigate the impact of external shocks.

Russia v Ukraine

Both the Russian Federation and Ukraine show negative growth rates in exports of goods and services, with the Russian Federation at -4.17% and Ukraine at -5.81%. This indicates a decline in their ability to sell goods and services to the global market. The Russian Federation's more modest decline may suggest a relatively more stable economy compared to Ukraine. However, Ukraine's greater decline could signal underlying economic challenges. For the Russian Federation, this decline may impact government revenue and economic stability, potentially leading to a slowdown in development initiatives. Similarly, for Ukraine, the decrease in exports could worsen trade balances and hinder economic growth, posing challenges for overall development.

France v United Kingdom

France experienced a significant decline in exports of goods and services with a growth rate of -16.90%, while the United Kingdom also saw a decrease of -11.47% based on constant local currency. France's sharp decline could indicate economic challenges affecting its external trade, potentially leading to a decrease in revenue and economic instability. On the other hand, the United Kingdom's negative growth rate may be attributed to uncertainties surrounding Brexit and its impact on trade relations. For France, this could result in a strain on foreign exchange reserves and a slowdown in economic growth. Meanwhile, the United Kingdom might face difficulties in maintaining competitiveness in the global market and attracting foreign investments.

Israel v Iran

Iran experienced a significant decline in exports of goods and services with an annual growth rate of -12.83%, while Israel saw a more moderate decrease of -2.43%. This indicates a contrasting performance between the two countries in terms of international trade. Iran may face challenges such as reduced foreign exchange earnings and economic instability due to the substantial drop in exports. Conversely, Israel's milder decline could indicate a more resilient economy. For Iran, the impact of this statistic could hinder economic growth and lead to potential trade imbalances, while for Israel, it may present an opportunity to implement strategies for export diversification and market expansion.

Saudi Arabia v Iran

Iran and Saudi Arabia have experienced a decline in their Exports of goods and services, with Iran decreasing by 12.83% and Saudi Arabia by 10.60%. Both countries heavily rely on exporting goods and services for revenue generation. Iran's economy, already under pressure from sanctions, faces further challenges with this decrease, impacting its ability to earn foreign exchange. On the other hand, Saudi Arabia, heavily dependent on oil exports, sees a significant impact on its fiscal position. While Iran may face difficulties in meeting its financial obligations, Saudi Arabia's diversification efforts might be hindered by this decrease. Overall, both countries need to adapt to these changes to ensure sustainable economic growth.

India v Pakistan

India has experienced a negative growth rate in exports of goods and services, at -9.14%, indicating a decline in its international trade activity. In contrast, Pakistan has shown a modest growth rate of 1.52%, reflecting a slight expansion in its exports sector. India's decrease in exports signifies potential economic challenges such as reduced foreign exchange earnings and strained trade relations. On the other hand, Pakistan's positive growth may indicate an increase in global competitiveness. However, this growth rate may not be sufficient to significantly boost the economy. Overall, India and Pakistan face contrasting prospects in terms of trade growth, with India needing to address its export decline for sustained economic development, while Pakistan aims to capitalize on its small but positive export growth rate to enhance its economic performance.

Turkey v Greece

In 2015 constant prices, Greece's exports of goods and services experienced a significant annual decline of -21.52%, while Turkey's exports also saw a decrease of -14.62%. Greece's negative growth reflects challenges in its economy, potentially indicating reduced global competitiveness or internal economic issues. On the other hand, Turkey's decline could be impacted by political instability or changes in trade partnerships. The advantage for Greece may be a potential push for domestic production, while Turkey could benefit from a focus on export diversification. However, both countries may face economic strain due to the reduced income from exports, impacting their development paths differently.

FAQs

Which country has the most Exports of goods and services (annual % growth)?
Answer: Timor-Leste has the highest Exports of goods and services (annual % growth) at 209.07%.
Which country has the least Exports of goods and services (annual % growth)?
Answer: Vanuatu has the lowest Exports of goods and services (annual % growth) at -71.09%.
What is the average Exports of goods and services (annual % growth) among the listed countries?
Answer: The average Exports of goods and services (annual % growth) among the listed countries is approximately -11.05%.
How is Exports of goods and services defined?
Answer: Exports of goods and services represent the value of all goods and other market services provided to the rest of the world, excluding compensation of employees, investment income, and transfer payments.
Why is Exports of goods and services an important macroeconomic statistic?
Answer: Exports of goods and services are crucial for a country's economy as they reflect its international trade competitiveness and impact its GDP growth, employment levels, and currency strength.