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
Middle income
Records
63
Source
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Middle income | Imports of goods and services (% of GDP)
11.18988945 1960
10.81161214 1961
10.07818557 1962
10.45593431 1963
10.27322535 1964
10.02026749 1965
10.29849552 1966
10.34935674 1967
10.32492731 1968
9.87717491 1969
10.36648822 1970
10.6607011 1971
10.53436413 1972
11.72162554 1973
14.88072585 1974
16.05534484 1975
15.56124898 1976
15.98811739 1977
15.27991204 1978
15.5305346 1979
17.33197152 1980
17.38309971 1981
16.89236086 1982
16.36379284 1983
15.98482292 1984
16.2814794 1985
15.40751017 1986
15.63170108 1987
17.22456798 1988
18.54371852 1989
17.88601871 1990
17.91857153 1991
23.43799441 1992
20.86451596 1993
21.11853619 1994
21.99692334 1995
21.35743931 1996
21.68971073 1997
20.77895659 1998
22.11154766 1999
23.85948999 2000
23.7826945 2001
24.7288095 2002
26.09510091 2003
28.23368003 2004
28.16530796 2005
28.03651464 2006
27.75388325 2007
28.49009835 2008
24.52869837 2009
25.61490435 2010
26.45998765 2011
26.29454202 2012
25.76003323 2013
25.07235007 2014
23.18873934 2015
22.26894499 2016
23.03638397 2017
24.1797226 2018
23.11201463 2019
21.34530761 2020
23.87830195 2021
25.21488695 2022
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
Middle income
Records
63
Source
Create chart Download showed records Download Full dataset