Eritrea - Imports of goods and services (current US$)

The latest value for Imports of goods and services (current US$) in Eritrea was $603,784,800 as of 2011. Over the past 19 years, the value for this indicator has fluctuated between $663,164,500 in 2004 and $214,474,300 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. Data are in current U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1992 $214,474,300
1993 $334,544,500
1994 $440,568,200
1995 $479,375,000
1996 $606,037,700
1997 $589,008,200
1998 $597,114,900
1999 $597,465,900
2000 $411,183,700
2001 $460,868,400
2002 $472,665,800
2003 $587,987,200
2004 $663,164,500
2005 $603,478,700
2006 $464,617,900
2007 $379,414,600
2008 $360,673,600
2009 $435,274,800
2010 $494,229,400
2011 $603,784,800

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: Gap-filled total

Periodicity: Annual


Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts