Lower middle income | 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
Lower middle income
Records
63
Source
Lower middle income | Imports of goods and services (constant 2015 US$)
1960 141722999199.24
1961 140508364750.8
1962 121042223521.65
1963 138021489020.3
1964 153372937771.85
1965 159088109162.52
1966 169828300925.68
1967 190917829489.16
1968 202122163638
1969 207035857627.21
1970 238832121969.39
1971 245959667951.58
1972 251299577911.34
1973 277155942314.54
1974 397119412862.09
1975 531185989519.34
1976 528691220270.59
1977 599234515049.44
1978 484681659780.11
1979 432677182404.88
1980 453543438768.39
1981 446366231131.12
1982 417785520669.09
1983 501800023341.51
1984 425221422190.53
1985 422489067696.88
1986 395813698754.27
1987 401530107925.41
1988 392214586104.93
1989 436200824969.31
1990 491651845658.54
1991 500745742855.29
1992 462453466657.2
1993 437325132633.28
1994 414865134177.13
1995 449129567529.93
1996 483884541926.97
1997 500786280726.53
1998 526727967449.31
1999 525537542883.55
2000 570560895591.81
2001 614654047925.42
2002 666578535610.19
2003 743767793898.2
2004 850744151594.7
2005 970507482620.96
2006 1077245176990.3
2007 1203317487681.1
2008 1373942645777.6
2009 1288136829439.9
2010 1406316774105.1
2011 1536216519221.8
2012 1586249350835.7
2013 1554649934441.7
2014 1581132331181.7
2015 1559519135782.1
2016 1640341731721
2017 1870326525463.6
2018 1994814085616.1
2019 1986539882146
2020 1740599175931.8
2021 2013704215047.3
2022 2247844785119.2

Lower middle income | 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
Lower middle income
Records
63
Source