Australia | Imports of goods and services (constant 2015 US$)

Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Data are in constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on exports and imports are compiled from customs reports and balance of payments data. Although the data from the payments side provide reasonably reliable records of cross-border transactions, they may not adhere strictly to the appropriate definitions of valuation and timing used in the balance of payments or corresponds to the change-of ownership criterion. This issue has assumed greater significance with the increasing globalization of international business. Neither customs nor balance of payments data usually capture the illegal transactions that occur in many countries. Goods carried by travelers across borders in legal but unreported shuttle trade may further distort trade statistics. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
Commonwealth of Australia
Records
63
Source
Australia | Imports of goods and services (constant 2015 US$)
1960 11700004172.935
1961 13163972808.45
1962 11286859650.028
1963 13242732801.111
1964 14730882136.127
1965 17542061172.423
1966 18024984285.318
1967 18328970221.905
1968 20141140930.237
1969 20836163321.614
1970 22572337545.8
1971 23265287305.791
1972 21409591338.357
1973 21679724295.641
1974 28256874559.966
1975 28983677299.259
1976 27562543045.717
1977 30186494380.161
1978 28772268897.906
1979 31093616050.02
1980 31124705520.808
1981 34068532965.796
1982 38008605230.233
1983 34800862722.118
1984 36885239019.12
1985 43022991429.652
1986 42921432491.747
1987 40892326365.033
1988 45481823130.359
1989 56798390496.918
1990 59988861076.818
1991 56560728764.677
1992 58539400861.003
1993 62400022255.651
1994 67080714801.954
1995 78043553078.666
1996 81701056597.504
1997 89785009879.317
1998 98984038846.7
1999 104045404690.86
2000 116580679312.28
2001 115444186435.73
2002 117001423483.6
2003 132442527307.94
2004 150321045641.99
2005 169110830908.67
2006 183418896242.1
2007 202428380435.68
2008 231752660159.34
2009 223149858153.94
2010 238646232148.56
2011 263535080706.58
2012 293318793720.76
2013 295364480898.56
2014 286763751524.55
2015 291119040943.28
2016 290170466645.71
2017 305397398560.17
2018 326634270616.38
2019 327372818266.86
2020 307837576578.41
2021 297192541780.85
2022 317712974254.7

Australia | Imports of goods and services (constant 2015 US$)

Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Data are in constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on exports and imports are compiled from customs reports and balance of payments data. Although the data from the payments side provide reasonably reliable records of cross-border transactions, they may not adhere strictly to the appropriate definitions of valuation and timing used in the balance of payments or corresponds to the change-of ownership criterion. This issue has assumed greater significance with the increasing globalization of international business. Neither customs nor balance of payments data usually capture the illegal transactions that occur in many countries. Goods carried by travelers across borders in legal but unreported shuttle trade may further distort trade statistics. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
Commonwealth of Australia
Records
63
Source