Luxembourg | Imports of goods and services (current 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 current U.S. dollars. 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
Grand Duchy of Luxembourg
Records
63
Source
Luxembourg | Imports of goods and services (current US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1035732150.0605 1970
1202551382.5836 1971
1369284208.5968 1972
1875419167.8742 1973
2431846520.2983 1974
2582040144.7845 1975
2642274817.1369 1976
2941575689.3641 1977
3644990393.2368 1978
4494679416.6208 1979
5038377707.27 1980
4243916775.3151 1981
3913174112.6611 1982
3821668639.0532 1983
4137947500.6981 1984
4440312521.2311 1985
5901361748.2391 1986
7485394921.664 1987
8465362589.1388 1988
8953389639.6396 1989
11257897151.135 1990
12320522150.029 1991
13027742785.445 1992
13144580223.881 1993
14806954424.885 1994
17738813628.9 1995
18315957003.257 1996
18755420613.442 1997
21937945098.911 1998
24086193884.227 1999
26488356335.112 2000
26641322485.15 2001
27038258008.937 2002
33265876312.436 2003
42601162807.289 2004
49069300287.104 2005
59275748177.428 2006
71143315823.83 2007
76920486012.782 2008
62968336727.602 2009
73618971440.6 2010
85896851544.319 2011
84030679320.929 2012
93990637386.742 2013
103651876358.48 2014
95691946360.772 2015
97891285783.94 2016
105827158919.45 2017
117095615920.89 2018
122963062245.27 2019
124663318709.59 2020
153981656420.29 2021
144698236057.38 2022
Luxembourg | Imports of goods and services (current 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 current U.S. dollars. 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
Grand Duchy of Luxembourg
Records
63
Source