Benin | Imports of goods and services (% of GDP)

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. 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
Republic of Benin
Records
63
Source
Benin | Imports of goods and services (% of GDP)
1960 12.110286
1961 9.53463214
1962 9.95930446
1963 11.62589881
1964 12.24316515
1965 14.90571057
1966 16.19606297
1967 19.77226627
1968 19.07658678
1969 21.42850573
1970 24.46132362
1971 27.83261413
1972 26.80014939
1973 25.95016696
1974 29.49464837
1975 33.41298203
1976 31.0285114
1977 34.7807829
1978 34.54536444
1979 37.02178868
1980 37.32210672
1981 43.95887164
1982 40.08629954
1983 31.5777227
1984 30.93192817
1985 36.64859962
1986 32.61549675
1987 30.95060709
1988 32.08308882
1989 24.80493838
1990 26.53887913
1991 30.34223077
1992 33.50159776
1993 32.9174161
1994 36.07346064
1995 36.43119751
1996 30.01897989
1997 31.53549502
1998 32.50068575
1999 31.38225836
2000 26.74284895
2001 28.38859183
2002 24.04181176
2003 22.97193331
2004 21.38942677
2005 20.61229121
2006 21.716773
2007 27.07093104
2008 25.634639
2009 24.77466222
2010 28.35881188
2011 26.36737731
2012 26.83999991
2013 31.62962651
2014 33.83743382
2015 32.03586197
2016 31.38014027
2017 34.27100218
2018 34.52096387
2019 34.05080512
2020 24.96076295
2021 27.13605466
2022 29.28031052

Benin | Imports of goods and services (% of GDP)

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. 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
Republic of Benin
Records
63
Source