Burkina Faso - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in Burkina Faso was 31.05 as of 2019. Its highest value over the past 59 years was 36.96 in 2013, while its lowest value was 11.38 in 1965.

Definition: 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.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 15.84
1961 15.79
1962 15.71
1963 15.67
1964 11.52
1965 11.38
1966 11.65
1967 13.93
1968 15.29
1969 16.53
1970 16.14
1971 19.93
1972 21.29
1973 22.92
1974 24.47
1975 30.15
1976 27.01
1977 30.44
1978 27.75
1979 29.28
1980 31.26
1981 31.44
1982 31.62
1983 29.57
1984 28.76
1985 31.03
1986 28.97
1987 28.08
1988 27.13
1989 23.65
1990 24.46
1991 23.35
1992 19.53
1993 20.67
1994 25.03
1995 26.61
1996 27.62
1997 26.60
1998 28.13
1999 26.90
2000 26.28
2001 22.61
2002 22.45
2003 21.15
2004 24.60
2005 24.33
2006 24.15
2007 23.43
2008 25.24
2009 26.51
2010 28.56
2011 31.30
2012 34.64
2013 36.96
2014 31.89
2015 32.98
2016 31.98
2017 32.82
2018 32.52
2019 31.05

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.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts