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

Imports of goods and services (% of GDP) in Estonia was 70.69 as of 2020. Its highest value over the past 25 years was 84.55 in 2012, while its lowest value was 55.90 in 2009.

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
1995 73.19
1996 71.70
1997 80.67
1998 83.20
1999 74.25
2000 64.87
2001 65.21
2002 65.36
2003 65.61
2004 68.90
2005 70.50
2006 73.38
2007 71.39
2008 70.30
2009 55.90
2010 68.63
2011 80.79
2012 84.55
2013 81.88
2014 78.38
2015 73.50
2016 73.40
2017 71.75
2018 71.87
2019 69.89
2020 70.69

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