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

Imports of goods and services (% of GDP) in Belize was 49.51 as of 2020. Its highest value over the past 40 years was 73.67 in 2000, while its lowest value was 0.00 in 1991.

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
1980 57.39
1981 63.05
1982 59.06
1983 54.40
1984 58.70
1985 51.28
1986 48.64
1987 52.38
1988 56.97
1989 57.48
1990 51.27
1991 0.00
1992 52.89
1993 50.15
1994 52.40
1995 49.09
1996 50.24
1997 55.68
1998 56.92
1999 67.35
2000 73.67
2001 69.38
2002 66.66
2003 66.39
2004 58.87
2005 63.36
2006 62.00
2007 62.13
2008 70.54
2009 57.06
2010 58.65
2011 64.33
2012 63.80
2013 66.59
2014 65.09
2015 66.34
2016 61.12
2017 57.75
2018 56.65
2019 59.00
2020 49.51

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