Latin America & the Caribbean (IDA & IBRD countries) | Imports of goods and services (constant 2015 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 constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. 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
Latin America & the Caribbean (IDA & IBRD countries)
Records
63
Source
Latin America & the Caribbean (IDA & IBRD countries) | Imports of goods and services (constant 2015 US$)
1960 53357572818.182
1961 54766206317.242
1962 57539628505.244
1963 58823519900.007
1964 63772613355.898
1965 68110592208.856
1966 76972066708.352
1967 78922498056.674
1968 84929228893.169
1969 89843394139.68
1970 99785272741.509
1971 106576779884.82
1972 115314376274.96
1973 132754227733.51
1974 158045906700.26
1975 151018665294.06
1976 148947461413.81
1977 147747957193.65
1978 157854660218.92
1979 179888111688.11
1980 211571446432.76
1981 216865419522.48
1982 166452885482.08
1983 132774378478.85
1984 138363957842.89
1985 140008714551.43
1986 152032264565.9
1987 162216562457.04
1988 177219032916.43
1989 194178736969.86
1990 217782032082.13
1991 249696447326.52
1992 297702742952.51
1993 327653756462.13
1994 384549404354.22
1995 398080793336.65
1996 432986735798.45
1997 508333164650.78
1998 548041545251.12
1999 527632927785.8
2000 595107367645.77
2001 598488769701.43
2002 576184064765.77
2003 596833043571.43
2004 657714700604.75
2005 711412808798.04
2006 787610065034.37
2007 874561641185.22
2008 956047919193.9
2009 824341391564.49
2010 1010250792044
2011 1109170165240.7
2012 1147742640229.8
2013 1199460828273.6
2014 1213400349762
2015 1194895183549
2016 1182684641770.5
2017 1256279324747.9
2018 1320712731660.7
2019 1309628577966.1
2020 1144137012520.1
2021 1346656250128.3
2022 1446322640960.8

Latin America & the Caribbean (IDA & IBRD countries) | Imports of goods and services (constant 2015 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 constant 2015 prices, expressed in U.S. dollars. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. 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
Latin America & the Caribbean (IDA & IBRD countries)
Records
63
Source