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

Imports of goods and services (% of GDP) in Congo was 55.83 as of 2020. Its highest value over the past 60 years was 85.78 in 2016, while its lowest value was 16.45 in 1992.

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 85.61
1961 83.66
1962 62.95
1963 57.85
1964 56.45
1965 53.09
1966 51.11
1967 55.82
1968 57.23
1969 56.89
1970 57.76
1971 52.65
1972 51.79
1973 43.38
1974 59.47
1975 63.75
1976 66.56
1977 65.27
1978 61.07
1979 48.63
1980 60.13
1981 76.09
1982 68.51
1983 51.76
1984 45.62
1985 56.01
1986 53.67
1987 38.62
1988 40.42
1989 34.83
1990 19.04
1991 28.05
1992 16.45
1993 31.34
1994 74.22
1995 63.61
1996 59.95
1997 60.16
1998 72.62
1999 59.10
2000 43.61
2001 53.31
2002 53.94
2003 76.05
2004 50.84
2005 44.55
2006 48.14
2007 80.10
2008 59.71
2009 71.07
2010 55.54
2011 50.98
2012 39.36
2013 40.07
2014 51.08
2015 79.97
2016 85.78
2017 55.16
2018 49.01
2019 53.16
2020 55.83

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