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

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