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
1970 1035732150.0605
1971 1202551382.5836
1972 1369284208.5968
1973 1875419167.8742
1974 2431846520.2983
1975 2582040144.7845
1976 2642274817.1369
1977 2941575689.3641
1978 3644990393.2368
1979 4494679416.6208
1980 5038377707.27
1981 4243916775.3151
1982 3913174112.6611
1983 3821668639.0532
1984 4137947500.6981
1985 4440312521.2311
1986 5901361748.2391
1987 7485394921.664
1988 8465362589.1388
1989 8953389639.6396
1990 11257897151.135
1991 12320522150.029
1992 13027742785.445
1993 13144580223.881
1994 14806954424.885
1995 17738813628.9
1996 18315957003.257
1997 18755420613.442
1998 21937945098.911
1999 24086193884.227
2000 26488356335.112
2001 26641322485.15
2002 27038258008.937
2003 33265876312.436
2004 42601162807.289
2005 49069300287.104
2006 59275748177.428
2007 71143315823.83
2008 76920486012.782
2009 62968336727.602
2010 73618971440.6
2011 85896851544.319
2012 84030679320.929
2013 93990637386.742
2014 103651876358.48
2015 95691946360.772
2016 97891285783.94
2017 105827158919.45
2018 117095615920.89
2019 122963062245.27
2020 124663318709.59
2021 153981656420.29
2022 144698236057.38
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