United Kingdom | 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
United Kingdom of Great Britain and Northern Ireland
Records
63
Source
United Kingdom | Imports of goods and services (current US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 27390683945.284
1971 30398715015.819
1972 35227235264.735
1973 47664321411.073
1974 65196019167.835
1975 65470776548.673
1976 67703462713.387
1977 76129611023.897
1978 89576933844.679
1979 118461785260.48
1980 137878526609.34
1981 125075548633.44
1982 122079601677.15
1983 121284026072.46
1984 127222996807.66
1985 130906558008.21
1986 152853686602.17
1987 188285036770.71
1988 229177427961.58
1989 241238426047.12
1990 272323540482.95
1991 259552895943.56
1992 275735375570.38
1993 264364892021.6
1994 294236152433.42
1995 338952185576.77
1996 367441497659.91
1997 393418467583.5
1998 411883073865.52
1999 427461575796.8
2000 447394462097.14
2001 449981286886.43
2002 479812649880.1
2003 537910204081.63
2004 638784328084.95
2005 697065454545.45
2006 796344066237.35
2007 848431372549.02
2008 855172794117.65
2009 678558965570.96
2010 755985189200.57
2011 857154298140.55
2012 855641065409.25
2013 883068333064.17
2014 935305726198.98
2015 859564412420.22
2016 828192624115.95
2017 863846532337.87
2018 946466621329.18
2019 941829862195.15
2020 784591451435.64
2021 934640027640.59
2022 1111559340263.3

United Kingdom | 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
United Kingdom of Great Britain and Northern Ireland
Records
63
Source