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

Imports of goods and services (% of GDP) in Austria was 48.56 as of 2020. Its highest value over the past 50 years was 52.44 in 2018, while its lowest value was 27.35 in 1971.

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
1970 27.47
1971 27.35
1972 27.37
1973 27.54
1974 30.45
1975 28.50
1976 31.16
1977 32.32
1978 30.55
1979 32.44
1980 35.13
1981 35.40
1982 32.38
1983 31.99
1984 33.82
1985 35.16
1986 32.02
1987 31.45
1988 33.49
1989 35.52
1990 35.79
1991 35.46
1992 34.47
1993 31.80
1994 33.83
1995 34.72
1996 35.83
1997 37.84
1998 38.58
1999 38.90
2000 42.01
2001 42.92
2002 41.63
2003 41.82
2004 43.93
2005 45.41
2006 47.25
2007 48.17
2008 48.82
2009 41.85
2010 47.76
2011 51.15
2012 51.18
2013 50.63
2014 50.12
2015 49.34
2016 48.58
2017 50.89
2018 52.44
2019 52.04
2020 48.56

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