Iraq - Imports of goods and services (current US$)

The latest value for Imports of goods and services (current US$) in Iraq was $69,900,000,000 as of 2016. Over the past 46 years, the value for this indicator has fluctuated between $86,700,000,000 in 2014 and $662,559,500 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 $662,559,500
1971 $888,826,000
1972 $883,748,900
1973 $1,263,453,000
1974 $3,636,302,000
1975 $5,729,766,000
1976 $6,376,227,000
1977 $8,100,576,000
1978 $7,520,487,000
1979 $11,784,960,000
1980 $16,856,080,000
1981 $23,936,000,000
1982 $28,299,500,000
1983 $13,368,610,000
1984 $13,883,560,000
1985 $14,396,910,000
1986 $12,459,310,000
1987 $14,790,610,000
1988 $14,258,280,000
1989 $15,012,220,000
1990 $13,361,850,000
2004 $23,428,330,000
2005 $30,669,640,000
2006 $25,156,250,000
2007 $25,046,690,000
2008 $40,441,240,000
2009 $43,868,500,000
2010 $47,207,400,000
2011 $51,552,600,000
2012 $63,438,830,000
2013 $84,500,000,000
2014 $86,700,000,000
2015 $73,515,930,000
2016 $69,900,000,000

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


Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts