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

Imports of goods and services (% of GDP) in Ghana was 35.82 as of 2020. Its highest value over the past 60 years was 67.25 in 2000, while its lowest value was 2.98 in 1982.

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 35.44
1961 36.45
1962 28.47
1963 27.45
1964 23.87
1965 26.74
1966 19.63
1967 19.95
1968 20.82
1969 20.34
1970 22.71
1971 20.24
1972 15.20
1973 16.40
1974 21.80
1975 18.44
1976 16.04
1977 11.55
1978 9.69
1979 11.16
1980 9.15
1981 5.32
1982 2.98
1983 5.99
1984 10.77
1985 13.59
1986 20.14
1987 26.19
1988 24.06
1989 24.34
1990 25.85
1991 25.52
1992 28.77
1993 36.42
1994 36.76
1995 32.93
1996 40.09
1997 52.99
1998 46.73
1999 49.63
2000 67.25
2001 64.81
2002 54.87
2003 56.61
2004 60.37
2005 61.72
2006 40.73
2007 40.83
2008 44.48
2009 42.30
2010 45.90
2011 49.36
2012 52.81
2013 35.32
2014 35.60
2015 42.69
2016 36.68
2017 36.67
2018 34.50
2019 39.38
2020 35.82

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