Indicator: External balance on goods and services (% of GDP) - Ranking 2024

Description	External balance on goods and services (% of GDP) measures the balance of a country's international trade in goods and services, calculated as the difference between exports and imports, expressed as a percentage of Gross Domestic Product (GDP). GDP represents the total income generated through the production of goods and services within an economic territory during an accounting period. A positive value indicates a trade surplus, while a negative value indicates a trade deficit. By expressing the trade balance relative to GDP, the indicator provides a standardized measure of the importance of net exports to the size of the economy.
A cosa serve	The indicator is used to analyse international trade performance, external imbalances and the relationship between foreign trade and economic activity. It helps identify whether an economy systematically exports more or imports more goods and services relative to its economic output. When considered together with GDP growth, exports, imports, the current account and other external-sector indicators, it can contribute to the assessment of trade competitiveness, external sustainability and a country's integration into the global economy.
Unit of measure	%
Aggregation Operator	Average

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