Uruguay | 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
Eastern Republic of Uruguay
Records
63
Source
Uruguay | Imports of goods and services (% of GDP)
1960 18.62068966
1961 14.77272727
1962 14.43298969
1963 12.01716738
1964 11.34328358
1965 11.47540984
1966 11.48717949
1967 13.17829457
1968 12.20568336
1969 12.13035607
1970 15.20754717
1971 11.43349612
1972 14.89416624
1973 9.50559152
1974 16.89074882
1975 20.27809379
1976 20.07877267
1977 22.65854233
1978 21.15458089
1979 21.16702346
1980 20.63142597
1981 19.03134644
1982 17.2907916
1983 23.60386556
1984 21.37545371
1985 21.10004345
1986 20.26865098
1987 19.20594969
1988 17.73592505
1989 17.69969274
1990 18.09634874
1991 17.86123644
1992 19.62546881
1993 19.55895091
1994 20.38202333
1995 19.10086203
1996 19.85845666
1997 20.24854936
1998 19.22010482
1999 18.28879586
2000 20.01563921
2001 19.50485337
2002 19.40739483
2003 24.32677945
2004 29.36439248
2005 28.47367651
2006 31.67407011
2007 30.11996059
2008 35.00507104
2009 26.29520351
2010 25.35604266
2011 26.82488459
2012 29.14152474
2013 26.36471005
2014 25.54496245
2015 22.85038956
2016 21.53885286
2017 20.44679477
2018 21.41613779
2019 21.74690826
2020 20.80864526
2021 23.93429664
2022 25.86930525

Uruguay | 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
Eastern Republic of Uruguay
Records
63
Source