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

Imports of goods and services (% of GDP) in Guyana was 109.73 as of 2005. Its highest value over the past 45 years was 149.22 in 1992, while its lowest value was 44.88 in 1962.

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 56.96
1961 52.98
1962 44.88
1963 46.13
1964 53.52
1965 57.66
1966 60.16
1967 59.79
1968 55.15
1969 55.44
1970 57.00
1971 54.69
1972 58.77
1973 68.89
1974 66.42
1975 74.91
1976 91.00
1977 78.77
1978 63.10
1979 69.23
1980 93.64
1981 92.31
1982 70.08
1983 64.58
1984 51.36
1985 61.88
1986 53.21
1987 90.76
1988 67.93
1989 73.53
1990 79.86
1991 120.29
1992 149.22
1993 131.05
1994 117.12
1995 112.12
1996 108.72
1997 109.48
1998 107.91
1999 104.55
2000 110.69
2001 106.70
2002 104.42
2003 99.49
2004 105.16
2005 109.73

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