Burkina Faso | 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
Burkina Faso
Records
63
Source
Burkina Faso | Imports of goods and services (% of GDP)
1960 15.83940461
1961 15.7899764
1962 15.70596469
1963 15.6690092
1964 11.51843946
1965 11.37662058
1966 11.64848834
1967 13.92730705
1968 15.28739068
1969 16.53239462
1970 16.14177019
1971 19.9310891
1972 21.28899967
1973 22.91953873
1974 24.47291572
1975 30.15111636
1976 27.00824323
1977 30.44326689
1978 27.75082927
1979 29.28244368
1980 31.26250766
1981 31.43511365
1982 31.62403532
1983 29.57414785
1984 28.75779204
1985 31.02608229
1986 28.97116629
1987 28.08112953
1988 27.13098209
1989 23.64589735
1990 24.45595903
1991 23.34868798
1992 19.52753601
1993 20.67354067
1994 25.02760109
1995 26.60691488
1996 27.61669256
1997 26.60388778
1998 28.13168055
1999 26.90081028
2000 26.27822449
2001 22.61408805
2002 22.44715722
2003 21.14780475
2004 24.5993563
2005 24.33032229
2006 24.14967885
2007 23.43117507
2008 25.23598993
2009 26.50701281
2010 28.55738968
2011 31.30175258
2012 34.64052256
2013 36.95886585
2014 31.89155834
2015 32.98153577
2016 31.977208
2017 32.81639457
2018 32.51671948
2019 31.15099722
2020 28.92838141
2021 29.70609731
2022 33.09930169

Burkina Faso | 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
Burkina Faso
Records
63
Source