Irish Exports as a % of GDP

noodler

I always thought this was really high but I can only calculate it at around 50% (for 2009) when I do it manually.

External Tarde figures from CSO show exports in 2009 at €84bn

GDP (constant prices) in 2009 was around €166bn

So thats near 50%

Am I calculating this wrong?

Were exports ever as high as 90% of GDP?



EDIT:This table here says they were as high as 79% as recently as 2007? http://data.worldbank.org/indicator/NE.EXP.GNFS.ZS?cid=GPD_35

noodler

Think I figured it out, the External Trade data doesn't seem to include exports of services.

Quarterly National Accounts do.

Économiste Monétaire

On this table, click on the 'Select Data' tab at the top, then under the 'unit' tab tick 'percentage of GDP'. After that, click the 'INDIC_NA' tab, then tick 'Exports of goods and services'. Then click 'Update' and 'View Table'. In 2009 it was 93%.

noodler

Thanks.

Can't quite get it as high as the 93% eurostat say for 2009 though.

If I use GDP at constant MP: I get 87%

If I use it at current MP: I get 90%.

Économiste Monétaire

That's odd.

CSO numbers from the Q2 QNA document for 2009:

• Exports: 144,782
• GDP: 159,647
• Ratio: 91%

Eurostat:

• Exports 148,455
• GDP: 159,646
• Ratio: 93%

Sometimes there's differences in how factor income is attributed, so that could be the problem, or someone at Eurostat messed up. Be careful when comparing sub-components of real GDP and the overall figure as it's based on a chain-linked index.

noodler

Économiste Monétaire wrote: »

That's odd.

CSO numbers from the Q2 QNA document for 2009:

• Exports: 144,782
• GDP: 159,647
• Ratio: 91%

Eurostat:

• Exports 148,455
• GDP: 159,646
• Ratio: 93%

Sometimes there's differences in how factor income is attributed, so that could be the problem, or someone at Eurostat messed up. Be careful when comparing sub-components of real GDP and the overall figure as it's based on a chain-linked index.

Aye, it is a pain as everyone reports the constant prices when announcing changes in GDP but its more popular to use current for exports as a % GDP.

Nearly went mad this morning staring at the exports figures in the external trade document and wondering why they were so bloody low.

noodler

Économiste Monétaire wrote: »

Be careful when comparing sub-components of real GDP and the overall figure as it's based on a chain-linked index.

Current GDP more apt her then?

Not a huge difference, but do we generally use that when expressing things as a % GDP?

Économiste Monétaire

Superlative indices are not additive in their sub-components, so when you're comparing the ratio over time you might get a biased trend. It's better to use current prices for this.

noodler

I am trying to find up to date info on Exports % GDP for all the major economies but it is turning out ot be troublesome.

OECD can help but only seem to have figure until 2008 for many countries, any ideas?

Économiste Monétaire

Have you tried the IMF database?

noodler

Économiste Monétaire wrote: »

Have you tried the IMF database?

Actually eurostat did the job nicely as you reccommended previously.

I overlooked it as I forgot it had data on non-EU countries.

Cheers.