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

Imports of goods and services (% of GDP) in Benin was 24.96 as of 2020. Its highest value over the past 60 years was 43.96 in 1981, while its lowest value was 9.53 in 1961.

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 12.11
1961 9.53
1962 9.96
1963 11.63
1964 12.24
1965 14.91
1966 16.20
1967 19.77
1968 19.08
1969 21.43
1970 24.46
1971 27.83
1972 26.80
1973 25.95
1974 29.49
1975 33.41
1976 31.03
1977 34.78
1978 34.55
1979 37.02
1980 37.32
1981 43.96
1982 40.09
1983 31.58
1984 30.93
1985 36.65
1986 32.62
1987 30.95
1988 32.08
1989 24.80
1990 26.54
1991 30.34
1992 33.50
1993 32.92
1994 36.07
1995 36.43
1996 30.02
1997 31.54
1998 32.50
1999 31.38
2000 26.74
2001 28.39
2002 24.04
2003 22.97
2004 21.39
2005 20.61
2006 21.72
2007 27.07
2008 25.63
2009 24.77
2010 28.36
2011 26.37
2012 26.84
2013 31.63
2014 33.84
2015 32.04
2016 31.38
2017 34.27
2018 34.52
2019 34.05
2020 24.96

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