Merchandise trade has become an increasingly important contributor to a country’s gross domestic product (GDP), particularly for developing countries. Before the global financial crisis hit in 2008, merchandise trade as a percent of GDP for low- and middle-income economies was 57 percent, about 5% higher than for high-income economies. This is very evident in Europe and Central Asia (ECA) where merchandise trade accounts for 73 percent of the developing region’s GDP. Many ECA countries including Hungary, Belarus, and Bulgaria have merchandise trade to GDP ratios above 100 percent (155, 136, and 114 percent respectively in 2011), meaning merchandise exports are a large contributor to their overall economy.
world development indicators
Gross Domestic Product (GDP) estimates are some of the most heavily requested and used data published on data.worldbank.org. And as many users notice, the estimates are sometimes revised, occasionally resulting in large changes from previously published values. Why do revisions happen, what information do we publish about those revisions, and where do you find it?
A number of World Bank Open Data users have been taking advantage of the new Databank. Databank offers over 8,000 indicators with which to create and save custom reports with tables, charts, or maps. The saved reports are updated automatically when the data are udpated. And you can revisit, share, and embed the tables, charts, or maps as widgets on websites or blogs.