Heavily indebted poor countries (HIPC) | 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
Heavily indebted poor countries (HIPC)
Records
63
Source
Heavily indebted poor countries (HIPC) | Imports of goods and services (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967 21.80868678
1968 22.30971431
1969 21.7720039
1970 22.7196254
1971 23.56806224
1972 23.16445342
1973 23.68086414
1974 27.6416057
1975 28.73932139
1976 27.55835522
1977 27.8817964
1978 29.25345053
1979 30.97623569
1980 32.45485042
1981 32.28248386
1982 30.36525936
1983 27.75638131
1984 27.08756342
1985 27.92138226
1986 25.72849679
1987 26.2195611
1988 23.5746793
1989 22.87605554
1990 21.75247504
1991 22.11024107
1992 26.45390039
1993 25.11690993
1994 29.69495845
1995 30.21797119
1996 30.44084526
1997 29.8337095
1998 30.67245377
1999 30.32682366
2000 28.92120416
2001 29.5467293
2002 29.95583794
2003 30.88515325
2004 32.10212609
2005 33.96306386
2006 33.59748778
2007 35.49238985
2008 36.48517798
2009 32.54768577
2010 34.52481754
2011 36.29011188
2012 36.96092683
2013 35.75247118
2014 34.53696654
2015 33.69896994
2016 31.08984921
2017 30.15755446
2018 32.63374391
2019 31.66913491
2020 28.46237191
2021 30.910262
2022 33.58521842

Heavily indebted poor countries (HIPC) | 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
Heavily indebted poor countries (HIPC)
Records
63
Source