Europe & Central Asia | 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
Europe & Central Asia
Records
63
Source
Europe & Central Asia | Imports of goods and services (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
20.40763882 1970
20.19579676 1971
20.13100002 1972
21.81395272 1973
26.19910527 1974
23.44613967 1975
25.22326233 1976
25.13442382 1977
23.94204331 1978
25.39424935 1979
26.95455631 1980
27.35650429 1981
27.20896575 1982
26.8677072 1983
28.19171601 1984
28.27948901 1985
25.09263807 1986
24.86741836 1987
25.24998996 1988
26.72973214 1989
25.90007566 1990
24.8997787 1991
26.43773609 1992
24.99968992 1993
25.83100846 1994
26.96807655 1995
27.12378507 1996
28.67996283 1997
29.21372097 1998
29.86629221 1999
33.28554337 2000
32.9438267 2001
31.69488762 2002
31.37031683 2003
32.46174862 2004
33.91056668 2005
35.94176606 2006
36.41316136 2007
37.38432286 2008
33.13721529 2009
36.26178047 2010
38.42291333 2011
38.22060715 2012
37.96263841 2013
38.05743691 2014
38.59359018 2015
38.92163248 2016
40.42024217 2017
41.56355491 2018
41.93592455 2019
39.4135975 2020
42.09523073 2021
47.55514628 2022
Europe & Central Asia | 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
Europe & Central Asia
Records
63
Source