South Asia - Imports of goods and services (constant 2010 US$)

The latest value for Imports of goods and services (constant 2010 US$) in South Asia was 704,449,000,000 as of 2020. Over the past 60 years, the value for this indicator has fluctuated between 812,380,000,000 in 2018 and 29,781,160,000 in 1975.

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. Data are in constant 2010 U.S. dollars.

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

See also:

Year Value
1960 29,834,720,000
1961 31,317,250,000
1962 31,910,910,000
1963 35,599,270,000
1964 38,476,890,000
1965 39,285,470,000
1966 41,023,400,000
1967 44,739,190,000
1968 43,906,600,000
1969 40,657,220,000
1970 51,571,570,000
1971 47,200,350,000
1972 39,791,940,000
1973 32,754,980,000
1974 31,062,110,000
1975 29,781,160,000
1976 32,482,460,000
1977 34,810,970,000
1978 38,147,020,000
1979 47,170,680,000
1980 52,474,680,000
1981 45,683,500,000
1982 47,012,850,000
1983 53,992,320,000
1984 52,183,400,000
1985 57,178,510,000
1986 60,950,770,000
1987 61,116,830,000
1988 63,003,590,000
1989 66,088,850,000
1990 66,917,790,000
1991 64,817,690,000
1992 79,126,400,000
1993 93,137,850,000
1994 100,564,000,000
1995 120,155,000,000
1996 123,916,000,000
1997 133,039,000,000
1998 149,349,000,000
1999 155,276,000,000
2000 161,630,000,000
2001 165,636,000,000
2002 180,090,000,000
2003 203,040,000,000
2004 241,159,000,000
2005 317,546,000,000
2006 381,047,000,000
2007 411,963,000,000
2008 484,067,000,000
2009 466,367,000,000
2010 530,155,000,000
2011 630,084,000,000
2012 664,087,000,000
2013 621,731,000,000
2014 630,004,000,000
2015 604,632,000,000
2016 631,678,000,000
2017 735,027,000,000
2018 812,380,000,000
2019 808,789,000,000
2020 704,449,000,000

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

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: Gap-filled total

Base Period: 2010

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts