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

Imports of goods and services (% of GDP) in Honduras was 50.52 as of 2020. Its highest value over the past 60 years was 84.42 in 2008, while its lowest value was 21.93 in 1961.

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 23.03
1961 21.93
1962 22.08
1963 24.72
1964 24.75
1965 26.82
1966 30.08
1967 30.55
1968 31.62
1969 30.87
1970 34.11
1971 30.51
1972 28.21
1973 33.10
1974 44.08
1975 39.68
1976 38.17
1977 39.26
1978 39.87
1979 41.74
1980 45.25
1981 41.75
1982 30.32
1983 31.91
1984 34.35
1985 32.71
1986 30.16
1987 27.52
1988 30.90
1989 35.78
1990 39.29
1991 40.80
1992 42.85
1993 47.58
1994 55.80
1995 54.01
1996 60.69
1997 61.85
1998 64.25
1999 67.20
2000 66.42
2001 64.56
2002 65.27
2003 68.15
2004 77.04
2005 77.48
2006 77.08
2007 81.56
2008 84.42
2009 57.37
2010 63.68
2011 70.96
2012 70.29
2013 68.36
2014 65.41
2015 62.10
2016 57.10
2017 58.72
2018 62.10
2019 58.11
2020 50.52

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