Tonga | 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
Kingdom of Tonga
Records
63
Source
Tonga | Imports of goods and services (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975 70.81818145
1976 56.63051085
1977 57.17724097
1978 67.87251325
1979 69.80312369
1980 67.71855558
1981 67.24516737
1982 64.62503881
1983 69.17065084
1984 62.95502042
1985 72.23074955
1986 69.87580988
1987 64.60557113
1988 66.74918483
1989 62.80569358
1990 65.09554486
1991 60.55877068
1992 48.98885411
1993 47.54943392
1994 45.77477717
1995 54.16021548
1996 57.71370991
1997 50.98996214
1998 58.70358698
1999 35.09329299
2000 38.54938961
2001 45.18391761
2002 55.2583246
2003 56.68465781
2004 56.61509737
2005 56.86636688
2006 51.92057917
2007 58.22145583
2008 52.70588411
2009 64.51606269
2010 60.6871673
2011 62.54615357
2012 60.97002895
2013 62.58553569
2014 57.95062773
2015 64.49108682
2016 63.27111199
2017 65.81045431
2018 66.18274477
2019 65.19361427
2020 64.94385474
2021 60.84480504
2022

Tonga | 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
Kingdom of Tonga
Records
63
Source