Sri Lanka | 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
Democratic Socialist Republic of Sri Lanka
Records
63
Source
Sri Lanka | Imports of goods and services (current US$)
1960 464026785.71429
1961 411422958.10924
1962 418792243.68313
1963 341092712.80672
1964 349987424.18487
1965 432983193.27731
1966 452731092.43698
1967 433333333.33333
1968 424913594.43698
1969 483865546.21849
1970 656806722.68908
1971 630522765.59865
1972 610385259.63149
1973 735000000
1974 1211729323.3083
1975 1325392296.719
1976 1126991676.5755
1977 1237767756.4825
1978 1080845611.7873
1979 1539434810.5331
1980 2205444646.098
1981 2054961038.961
1982 2205910619.8943
1983 2141138971.5257
1984 2099724842.7673
1985 2269734904.271
1986 2262919343.3262
1987 2385292119.5652
1988 2570606727.4442
1989 2568294036.061
1990 3057438841.7374
1991 3497075175.2478
1992 3981473876.3404
1993 4481456953.6424
1994 5345325779.0368
1995 5998536585.3659
1996 6101194137.8686
1997 6579989218.5116
1998 6673560899.9224
1999 6774144497.4519
2000 8103470977.7951
2001 6861760295.4342
2002 6849730984.7376
2003 7681620389.5566
2004 9122927166.7161
2005 10071562189.055
2006 11632232538.679
2007 12775598413.4
2008 15686042402.127
2009 11703149676.658
2010
2011
2012
2013
2014
2015 23008991552.016
2016 23453073765.806
2017 25402506133.729
2018 26801436668.837
2019 24569908055.851
2020 18236265885.601
2021 21539647713.397
2022 18626984513.355

Sri Lanka | 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
Democratic Socialist Republic of Sri Lanka
Records
63
Source