| Code | TX.VAL.FUEL.ZS.UN |
| Indicator Name | Fuel exports (% of merchandise exports) |
| Short definition | Fuels comprise the commodities in SITC (Rev. 3) section 3 (mineral fuels, lubricants and related materials). This indicator is expressed as a percentage of merchandise exports which is comprised of goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. |
| Long definition | Fuels comprise the commodities in SITC (Rev. 3) section 3 (mineral fuels, lubricants and related materials). This indicator is expressed as a percentage of merchandise exports which is comprised of goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. |
| Source | Staff estimates, World Bank (WB);
Comtrade database, United Nations (UN), publisher: UN Statistics Division;
World Integrated Trade Solution system (WITS), World Bank (WB) |
| Topic | Private Sector & Trade: Exports |
| Dataset | WDI |
| Unit of measure | % |
| Periodicity | Annual |
| Reference period | 1962-2024 |
| Aggregation method | Weighted average |
| Statistical concept and methodology | Methodology: International merchandise trade statistics are compiled in accordance with international standards: International Merchandise Trade statistics – Concepts and Definitions 2010. Specific information on how countries compile their merchandise trade statistics can be found on the IMF website: https://dsbb.imf.org/
Statistical concept(s): The conceptual basis for international merchandise trade statistics covers a specialized multipurpose domain of official statistics concerned with the provision of data on the movements of goods between countries and areas. Trade statistics are compiled to serve the needs of many users, including Governments; the business community; compilers of other economic statistics, such as balance of payments and national accounts; various regional, supranational and international organizations; researchers; and the public at large. Different users need different data, ranging from data sets by country and commodity at varying levels of detail to aggregated figures. |
| Development relevance | This indicator is related to the trade statistics, which are essential for gauging a country's economic performance, particularly through the lens of its trade balance, which is the net of exports against imports. These statistics inform government trade policy, trade agreement negotiations, and decisions on tariffs and other trade barriers. For businesses, this information is crucial for strategic decisions about export and import locations, market entry, and product pricing. By enabling comparisons between nations, trade data sheds light on competitive strengths and the movement of goods and services internationally. It's also key for monitoring trade trends, including the rise of new markets or shifts in commodity demand, and for identifying both opportunities for growth and potential economic risks. Trade volumes and values are important economic indicators, offering insights into the economic health of a nation and affecting investment decisions and forecasts. Overall, trade statistics play a central role in understanding the complexities of global trade and in guiding both macroeconomic policy and microeconomic business decisions. |
| Limitations and exceptions | Previous editions contained data based on the SITC revision 1. Data for earlier years in previous editions may differ because of the change in methodology. Concordance tables are available to convert data reported in one system to another. |
| Other notes | Merchandise export shares may not sum to 100 percent because of unclassified trade. |
| License URL | https://datacatalog.worldbank.org/public-licenses#cc-by |
| License Type | CC BY-4.0 |
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