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

The latest value for Imports of goods and services (current US$) in Grenada was $553,047,300 as of 2016. Over the past 39 years, the value for this indicator has fluctuated between $565,461,000 in 2015 and $32,592,590 in 1977.

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
1977 $32,592,590
1978 $39,703,700
1979 $56,888,890
1980 $66,370,370
1981 $78,703,700
1982 $79,000,000
1983 $71,777,780
1984 $71,148,150
1985 $88,111,110
1986 $105,807,400
1987 $115,092,600
1988 $119,888,900
1989 $128,629,600
1990 $138,800,000
1991 $149,118,500
1992 $138,625,900
1993 $159,318,500
1994 $161,914,800
1995 $169,207,400
1996 $194,092,600
1997 $212,592,600
1998 $253,185,200
1999 $266,296,300
2000 $310,138,500
2001 $280,206,800
2002 $272,108,100
2003 $311,462,500
2004 $319,121,000
2005 $396,159,900
2006 $402,395,600
2007 $436,385,200
2008 $451,733,200
2009 $360,979,600
2010 $379,569,200
2011 $395,495,500
2012 $395,684,300
2013 $424,283,100
2014 $536,930,200
2015 $565,461,000
2016 $553,047,300

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