Iraq | 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 Iraq
Records
63
Source
Iraq | Imports of goods and services (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
20.18943596 1970
22.99473068 1971
21.48229281 1972
24.60776749 1973
31.57399512 1974
42.57353496 1975
35.91264543 1976
40.83336178 1977
31.64885279 1978
31.16358622 1979
31.56232761 1980
62.29278481 1981
66.43805988 1982
32.9316219 1983
29.66414449 1984
29.81654432 1985
26.43734644 1986
26.12727273 1987
22.81213656 1988
22.87006502 1989
7.42796349 1990
2.50073024 1991
1.33873809 1992
0.469148 1993
0.06401637 1994
0.01562247 1995
0.01772671 1996
42.34115834 1997
54.34417187 1998
60.67971899 1999
49.63282142 2000
61.50686531 2001
49.19199647 2002
76.84180506 2003
63.96306859 2004
61.39466973 2005
38.61857708 2006
28.19301393 2007
30.72723605 2008
39.28726856 2009
34.08065041 2010
27.75380518 2011
29.10024923 2012
27.74648187 2013
30.04076041 2014
35.07762216 2015
26.47979651 2016
25.86484898 2017
24.99914974 2018
30.93807022 2019
29.99203887 2020
24.4145166 2021
2022
Iraq | 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 Iraq
Records
63
Source