Cabo Verde - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in Cabo Verde was 59.84 as of 2020. Its highest value over the past 40 years was 79.19 in 1982, while its lowest value was 47.05 in 1993.

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 66.98
1981 70.70
1982 79.19
1983 77.81
1984 77.70
1985 79.18
1986 75.44
1987 65.73
1988 59.49
1989 62.21
1990 68.82
1991 64.39
1992 66.66
1993 47.05
1994 56.52
1995 60.38
1996 55.29
1997 58.54
1998 59.09
1999 59.99
2000 60.51
2001 62.35
2002 68.54
2003 67.40
2004 69.56
2005 66.57
2006 72.68
2007 66.21
2008 63.09
2009 56.96
2010 61.77
2011 64.33
2012 59.85
2013 54.85
2014 60.69
2015 59.16
2016 59.96
2017 67.38
2018 68.00
2019 65.26
2020 59.84

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