Cyprus | 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 Cyprus
Records
63
Source
Cyprus | Imports of goods and services (current US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975 277745397.74629
1976 360768050.08583
1977 497972959.23554
1978 606584939.28929
1979 821765628.74251
1980 1358664013.267
1981 1321842817.2943
1982 1387106288.5327
1983 1382085650.723
1984 1528712761.7149
1985 1429846928.9827
1986 1496618983.0508
1987 1862396345.9196
1988 2289354454.2033
1989 2732346863.9053
1990 3192962740.0768
1991 3294451136.3636
1992 4191531290.7432
1993 3158397055.3593
1994 3570773571.4286
1995 6717504527.8137
1996 7072548306.1481
1997 6738597491.4481
1998 6785841628.9593
1999 6748355987.055
2000 6743650329.8775
2001 6617244990.8925
2002 6993294230.7692
2003 8181782559.4564
2004 9875106250
2005 10364178584.753
2006 11315149918.454
2007 13905730906.105
2008 17498754943.606
2009 14028341205.89
2010 15110295648.07
2011 15800751377.34
2012 14293543422.01
2013 14287083385.905
2014 15071914423.271
2015 13390807237.578
2016 14424834047.471
2017 17021049337.668
2018 18829478502.503
2019 19578781921.825
2020 20698591443.12
2021 25193305925.293
2022 27706022594.206

Cyprus | 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 Cyprus
Records
63
Source