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

Imports of goods and services (% of GDP) in Ireland was 108.84 as of 2020. Its highest value over the past 50 years was 124.41 in 2019, while its lowest value was 36.69 in 1972.

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
1970 41.33
1971 39.88
1972 36.69
1973 41.22
1974 52.57
1975 44.82
1976 49.83
1977 53.78
1978 55.01
1979 60.79
1980 57.94
1981 57.60
1982 50.93
1983 50.78
1984 55.00
1985 53.72
1986 48.03
1987 48.30
1988 49.63
1989 53.54
1990 50.32
1991 50.86
1992 51.14
1993 53.24
1994 58.53
1995 62.58
1996 63.96
1997 65.14
1998 73.45
1999 73.41
2000 80.57
2001 79.62
2002 73.27
2003 65.69
2004 66.11
2005 68.65
2006 70.99
2007 72.56
2008 75.71
2009 80.04
2010 86.59
2011 84.54
2012 86.83
2013 84.98
2014 91.91
2015 93.18
2016 105.86
2017 99.02
2018 94.43
2019 124.41
2020 108.84

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