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

Imports of goods and services (% of GDP) in Chile was 26.30 as of 2020. Its highest value over the past 60 years was 39.37 in 2008, while its lowest value was 12.04 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
1960 15.83
1961 15.52
1962 12.80
1963 14.77
1964 13.23
1965 12.65
1966 13.40
1967 12.91
1968 13.10
1969 14.06
1970 13.97
1971 12.04
1972 13.16
1973 15.39
1974 19.30
1975 26.57
1976 20.31
1977 22.02
1978 23.66
1979 25.55
1980 26.45
1981 26.22
1982 21.25
1983 21.40
1984 24.46
1985 24.33
1986 24.73
1987 25.85
1988 25.98
1989 29.27
1990 29.25
1991 26.79
1992 27.29
1993 27.73
1994 25.75
1995 26.34
1996 28.12
1997 28.48
1998 28.80
1999 26.58
2000 28.78
2001 30.74
2002 30.59
2003 30.66
2004 29.93
2005 31.46
2006 29.30
2007 31.34
2008 39.37
2009 29.30
2010 31.32
2011 34.44
2012 34.15
2013 32.77
2014 32.16
2015 29.60
2016 27.54
2017 27.22
2018 28.81
2019 28.85
2020 26.30

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