Colombia | Imports of goods and services (current 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 current U.S. dollars. 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 (current US$)
1960 594894694.8003
1961 627934716.41791
1962 605929106.90418
1963 597285655.55556
1964 755727700
1965 559333333.33333
1966 778814814.81482
1967 602411299.60639
1968 763579000.34987
1969 839120871.50799
1970 1047700632.177
1971 1252577345.4471
1972 1109769649.7414
1973 1306397077.8518
1974 1933488605.8853
1975 1835324549.3493
1976 2131690445.3091
1977 2569926742.1181
1978 3210026857.6544
1979 3756624824.0235
1980 5209514724.5142
1981 5610414540.8631
1982 5919610896.6417
1983 5127945978.5055
1984 4767852803.3328
1985 4370639548.4778
1986 4190788877.6325
1987 4697932909.5198
1988 5433539690.8748
1989 5464066788.8763
1990 7614454664.9146
1991 7165432649.9536
1992 9981383607.0864
1993 13954892238.387
1994 17092116533.985
1995 19390381150.077
1996 20251279515.928
1997 22137114223.747
1998 20585197362.265
1999 15359982697.601
2000 16731018377.432
2001 18180843172.173
2002 17793883920.379
2003 18873043327.337
2004 22356075159.729
2005 29777716185.854
2006 35453316060.93
2007 42618891600.722
2008 51066655641.145
2009 43545176388.253
2010 51351305096.505
2011 67642788214.391
2012 74226993336.156
2013 76037444586.24
2014 79499076760.09
2015 66653739144.072
2016 60743865896.627
2017 62802582419.224
2018 68961912989.375
2019 70067176054.929
2020 55649241831.608
2021 76179326802.271
2022 95466613971.84

Colombia | Imports of goods and services (current 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 current U.S. dollars. 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