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

Imports of goods and services (% of GDP) in Gabon was 22.75 as of 2020. Its highest value over the past 60 years was 72.26 in 1972, while its lowest value was 22.00 in 2019.

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 32.63
1961 31.66
1962 30.77
1963 45.39
1964 35.95
1965 37.30
1966 39.57
1967 48.05
1968 49.25
1969 54.05
1970 37.99
1971 52.33
1972 72.26
1973 57.67
1974 43.26
1975 47.90
1976 46.10
1977 51.26
1978 46.92
1979 37.40
1980 31.63
1981 40.70
1982 39.67
1983 43.54
1984 40.20
1985 57.28
1986 54.70
1987 45.22
1988 41.79
1989 41.20
1990 30.86
1991 33.27
1992 33.79
1993 34.55
1994 38.25
1995 35.75
1996 33.01
1997 37.23
1998 48.57
1999 38.12
2000 32.67
2001 29.36
2002 32.15
2003 28.37
2004 26.73
2005 23.94
2006 28.08
2007 26.60
2008 26.80
2009 31.33
2010 31.49
2011 28.75
2012 31.39
2013 33.28
2014 29.00
2015 27.92
2016 26.10
2017 24.84
2018 22.74
2019 22.00
2020 22.75

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