Guinea-Bissau - Imports of goods and services (current US$)

The latest value for Imports of goods and services (current US$) in Guinea-Bissau was $315,061,200 as of 2016. Over the past 46 years, the value for this indicator has fluctuated between $340,897,400 in 2015 and $23,768,620 in 1970.

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
1970 $23,768,620
1971 $26,948,630
1972 $31,248,660
1973 $36,398,980
1974 $38,767,760
1975 $28,278,220
1976 $31,395,550
1977 $37,483,120
1978 $44,225,220
1979 $49,224,570
1980 $46,299,660
1981 $55,268,030
1982 $68,336,750
1983 $52,759,850
1984 $71,013,940
1985 $83,018,770
1986 $41,457,270
1987 $67,719,950
1988 $84,150,250
1989 $98,449,730
1990 $90,350,140
1991 $97,180,090
1992 $113,410,000
1993 $77,499,980
1994 $80,839,740
1995 $89,252,260
1996 $86,090,220
1997 $107,106,600
1998 $74,000,260
1999 $96,100,140
2000 $122,592,300
2001 $105,220,700
2002 $97,104,770
2003 $117,152,500
2004 $140,134,400
2005 $167,664,100
2006 $192,413,700
2007 $236,085,600
2008 $284,083,300
2009 $289,214,200
2010 $299,729,800
2011 $340,256,700
2012 $254,421,200
2013 $270,137,100
2014 $339,011,900
2015 $340,897,400
2016 $315,061,200

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

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts