China | 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
People's Republic of China
Records
63
Source
China | Imports of goods and services (% of GDP)
1960 4.42827019
1961 3.48941005
1962 2.9082774
1963 2.85988945
1964 2.86414042
1965 3.18915802
1966 3.23502939
1967 2.97625683
1968 2.91841064
1969 2.40546326
1970 2.46085011
1971 2.13276894
1972 2.50744397
1973 3.75879835
1974 5.40368497
1975 4.84948182
1976 4.32644047
1977 4.08615385
1978 5.09418739
1979 5.92373477
1980 6.51323639
1981 7.44960399
1982 6.26499769
1983 6.36107437
1984 7.87633298
1985 12.3621618
1986 11.17836701
1987 10.32801845
1988 12.01062681
1989 10.10736203
1990 9.74787071
1991 10.62996355
1992 12.54203293
1993 13.9025469
1994 17.23306642
1995 16.32444624
1996 15.89144991
1997 15.0398529
1998 14.08220459
1999 15.361685
2000 18.51731765
2001 18.21521353
2002 20.10265796
2003 24.82323147
2004 28.44418664
2005 28.3780353
2006 28.44385835
2007 26.75856495
2008 25.01000133
2009 20.43501444
2010 23.53174494
2011 24.17271524
2012 22.77500014
2013 22.14512114
2014 21.39515505
2015 18.11008945
2016 17.31003496
2017 17.94013625
2018 18.45368057
2019 17.48010372
2020 16.1681565
2021 17.35801704
2022 17.46681629

China | 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
People's Republic of China
Records
63
Source