Canada - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in Canada was 31.42 as of 2020. Its highest value over the past 59 years was 38.56 in 2000, while its lowest value was 17.44 in 1963.

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
1961 18.27
1962 17.99
1963 17.44
1964 18.06
1965 18.65
1966 19.30
1967 19.24
1968 19.97
1969 21.11
1970 19.71
1971 19.76
1972 20.70
1973 21.67
1974 24.17
1975 23.98
1976 22.66
1977 23.13
1978 24.40
1979 26.00
1980 25.90
1981 25.80
1982 21.50
1983 21.87
1984 24.63
1985 25.39
1986 26.19
1987 24.97
1988 25.41
1989 25.12
1990 25.01
1991 24.96
1992 26.63
1993 29.20
1994 31.71
1995 33.07
1996 33.27
1997 36.20
1998 38.05
1999 38.25
2000 38.56
2001 36.30
2002 35.65
2003 32.97
2004 32.86
2005 32.90
2006 32.65
2007 32.05
2008 32.63
2009 29.96
2010 31.04
2011 31.82
2012 32.24
2013 31.90
2014 32.64
2015 34.31
2016 33.86
2017 33.65
2018 34.17
2019 33.50
2020 31.42

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