Colombia | 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
Republic of Colombia
Records
63
Source
Colombia | Imports of goods and services (constant 2015 US$)
1960 2010665117.84
1961 2094204818.7158
1962 2167200164.6375
1963 2163685304.3124
1964 2698314343.2403
1965 2211575246.096
1966 3081541605.6347
1967 2446934417.0123
1968 3026783630.9844
1969 3405699573.6835
1970 4125870911.0681
1971 4956944475.642
1972 4305547922.1844
1973 4465046888.9754
1974 4911505368.8325
1975 4371550150.2976
1976 4910658198.8962
1977 5389463161.7275
1978 6506109960.8587
1979 6557017163.9
1980 7786645607.327
1981 8167872013.0279
1982 8818652443.0281
1983 8018462068.0347
1984 7701004443.0962
1985 7191470321.5487
1986 7483512853.1386
1987 7883376994.1564
1988 8399842504.6
1989 8162711978.8895
1990 8803095324.9984
1991 9104148662.7004
1992 12868509119.435
1993 17638845194.7
1994 21916590544.956
1995 23507945558.757
1996 24046437424.448
1997 25535726752.13
1998 24536492652.162
1999 18480729193.73
2000 19580410908.965
2001 21291766846.983
2002 21361827572.217
2003 23107098256.304
2004 25480684236.223
2005 28706880987.97
2006 33782777500.518
2007 38464404836.514
2008 43276968929.57
2009 39534511926.247
2010 43816034464.207
2011 52679614046.583
2012 57618373454.243
2013 62529778386.195
2014 67382097650.614
2015 66653739144.072
2016 64293594979.906
2017 64948643491.549
2018 68719184423.267
2019 73765902828.391
2020 59086032257.613
2021 74864093846.519
2022 91551366795.236

Colombia | 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
Republic of Colombia
Records
63
Source