The psalm begins with an invitation to all the earth: shout to God with joy, sing the glory of his name and say that his deeds are awesome. His enemies will cringe before his power, and all the earth will worship him.
Then comes a call to come and see God's works. He turned the sea into dry land, and the people passed through the river on foot. There they rejoiced in him, for he rules by his might forever and his eyes keep watch on the nations, so the rebellious may not exalt themselves.
In verses 8 to 12 the psalmist blesses God because he has kept his people among the living and has not let their feet slip. God tested them as silver is refined, brought them into the net, laid a burden on their backs and let men ride over their heads. They went through fire and through water, but he brought them out to a place of abundance.
In verses 13 to 15 the psalmist enters God's house with burnt offerings to fulfill the vows he made in trouble. Finally he invites all who fear God to hear what God has done for him: he cried to God, and God heard. He says that if he had cherished iniquity in his heart, the Lord would not have listened. But God did listen, and blessed be God, who has not rejected his prayer or removed his steadfast love from him.