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

Imports of goods and services (% of GDP) in Guatemala was 24.95 as of 2020. Its highest value over the past 60 years was 43.02 in 2007, while its lowest value was 12.98 in 1985.

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 14.54
1961 13.49
1962 13.42
1963 15.93
1964 18.09
1965 19.61
1966 19.13
1967 19.51
1968 18.42
1969 17.43
1970 17.78
1971 18.70
1972 18.54
1973 20.20
1974 25.67
1975 23.53
1976 27.58
1977 26.26
1978 27.26
1979 25.85
1980 24.92
1981 23.60
1982 18.69
1983 14.55
1984 15.15
1985 12.98
1986 14.59
1987 22.29
1988 21.94
1989 22.47
1990 24.84
1991 21.57
1992 27.30
1993 26.08
1994 24.85
1995 25.43
1996 22.58
1997 23.60
1998 26.25
1999 27.36
2000 28.95
2001 42.01
2002 40.38
2003 40.82
2004 42.80
2005 41.65
2006 42.57
2007 43.02
2008 40.05
2009 33.67
2010 36.90
2011 37.98
2012 36.69
2013 34.69
2014 33.34
2015 30.06
2016 27.62
2017 27.57
2018 28.89
2019 27.95
2020 24.95

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