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