IDA blend - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in IDA blend was 19.56 as of 2020. Its highest value over the past 60 years was 25.86 in 1997, while its lowest value was 12.61 in 1983.

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 18.37
1961 18.18
1962 16.78
1963 17.32
1964 18.18
1965 19.32
1966 16.96
1967 18.41
1968 17.08
1969 16.36
1970 14.76
1971 16.71
1972 14.75
1973 18.15
1974 19.25
1975 24.98
1976 24.37
1977 23.68
1978 25.05
1979 22.87
1980 23.84
1981 14.65
1982 13.02
1983 12.61
1984 13.51
1985 14.02
1986 15.03
1987 15.89
1988 15.89
1989 18.35
1990 17.83
1991 18.80
1992 20.46
1993 20.81
1994 20.19
1995 22.34
1996 23.92
1997 25.86
1998 22.83
1999 18.91
2000 17.47
2001 21.50
2002 19.41
2003 22.13
2004 16.97
2005 18.36
2006 19.53
2007 22.45
2008 22.12
2009 21.79
2010 21.59
2011 24.03
2012 19.18
2013 18.52
2014 17.75
2015 16.23
2016 16.30
2017 18.10
2018 21.79
2019 22.70
2020 19.56

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