Colombia | 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 Colombia
Records
63
Source
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Colombia | Imports of goods and services (% of GDP)
14.75743288 1960
13.82979718 1961
12.22731175 1962
12.35039437 1963
12.65162081 1964
9.70936384 1965
14.34672853 1966
10.34152229 1967
12.81127062 1968
13.00927252 1969
14.55471198 1970
16.01683281 1971
12.79810563 1972
12.66408949 1973
15.63042831 1974
14.01157222 1975
13.89501569 1976
13.19876709 1977
13.79854797 1978
13.44513075 1979
15.59700595 1980
15.41815427 1981
15.19093837 1982
13.24030323 1983
12.46395774 1984
12.5253253 1985
11.99338947 1986
12.91588059 1987
13.85663438 1988
13.81905844 1989
15.91514135 1990
14.43537919 1991
17.09303665 1992
20.99297616 1993
20.91917562 1994
20.96348743 1995
20.84464548 1996
20.75552435 1997
20.90157222 1998
17.80270056 1999
16.75194575 2000
18.51397603 2001
18.16706954 2002
19.94088381 2003
19.09267551 2004
20.45165376 2005
21.91276821 2006
20.66575497 2007
21.05805428 2008
18.73163282 2009
17.92375841 2010
20.19391848 2011
20.02394574 2012
19.90020908 2013
20.85271653 2014
22.71055261 2015
21.48551371 2016
20.13762519 2017
20.63503312 2018
21.69049533 2019
20.59931325 2020
23.91726886 2021
27.78244179 2022
Colombia | 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 Colombia
Records
63
Source
Create chart Download showed records Download Full dataset