Low & middle income | 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
Low & middle income
Records
63
Source
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Low & middle income | Imports of goods and services (% of GDP)
11.30663714 1960
10.97794543 1961
10.32000391 1962
10.72259169 1963
10.53320539 1964
10.26243175 1965
10.59326876 1966
10.59846521 1967
10.57802388 1968
10.13564969 1969
10.58340268 1970
10.92422759 1971
10.78003445 1972
11.90975743 1973
15.08527316 1974
16.26284856 1975
15.74104122 1976
16.19718766 1977
15.51191279 1978
15.85370642 1979
17.61020283 1980
17.60968614 1981
17.04812111 1982
16.5025559 1983
16.08789415 1984
16.40594163 1985
15.49599756 1986
15.87906118 1987
17.25088226 1988
18.56730183 1989
17.88669576 1990
18.04003984 1991
23.59177583 1992
21.13950388 1993
21.48795715 1994
22.28031441 1995
21.66422348 1996
21.90965309 1997
21.02386479 1998
22.33674908 1999
23.98399745 2000
23.93895138 2001
24.91731077 2002
26.21810537 2003
28.42943264 2004
28.40443995 2005
28.23149854 2006
27.97927642 2007
28.70151284 2008
24.73318019 2009
25.80183835 2010
26.57171556 2011
26.40348778 2012
25.8977388 2013
25.19444384 2014
23.29632151 2015
22.37658437 2016
23.1408432 2017
24.32427178 2018
23.25133924 2019
21.48152036 2020
24.01425966 2021
25.36187993 2022
Low & middle income | 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
Low & middle income
Records
63
Source
Create chart Download showed records Download Full dataset