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

Imports of goods and services (% of GDP) in Vietnam was 102.70 as of 2020. Its highest value over the past 34 years was 104.70 in 2019, while its lowest value was 14.80 in 1987.

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
1986 16.60
1987 14.80
1988 15.01
1989 34.06
1990 45.28
1991 36.03
1992 38.83
1993 37.49
1994 43.46
1995 41.91
1996 51.84
1997 51.24
1998 52.15
1999 52.82
2000 57.50
2001 56.89
2002 61.96
2003 67.65
2004 73.29
2005 67.02
2006 70.60
2007 84.09
2008 83.98
2009 72.10
2010 80.22
2011 83.52
2012 76.53
2013 81.47
2014 83.13
2015 88.99
2016 91.06
2017 98.79
2018 102.47
2019 104.70
2020 102.70

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