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

Imports of goods and services (% of GDP) in Australia was 20.06 as of 2020. Its highest value over the past 60 years was 22.75 in 2009, while its lowest value was 11.00 in 1973.

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 14.04
1961 15.00
1962 12.61
1963 13.81
1964 13.74
1965 15.24
1966 15.10
1967 13.87
1968 14.46
1969 13.31
1970 13.20
1971 12.91
1972 11.95
1973 11.00
1974 13.19
1975 14.71
1976 13.36
1977 14.63
1978 14.57
1979 15.33
1980 15.88
1981 16.71
1982 16.80
1983 15.60
1984 14.98
1985 17.27
1986 18.05
1987 17.06
1988 16.62
1989 16.95
1990 17.04
1991 16.16
1992 16.39
1993 17.86
1994 18.49
1995 19.85
1996 19.36
1997 18.87
1998 20.45
1999 20.76
2000 21.58
2001 22.10
2002 20.75
2003 21.16
2004 19.86
2005 20.96
2006 21.73
2007 21.85
2008 22.72
2009 22.75
2010 20.74
2011 20.41
2012 21.67
2013 21.29
2014 21.38
2015 21.56
2016 21.55
2017 20.71
2018 21.51
2019 21.68
2020 20.06

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