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

Imports of goods and services (% of GDP) in Italy was 25.70 as of 2020. Its highest value over the past 50 years was 28.95 in 2018, while its lowest value was 14.82 in 1971.

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 14.94
1971 14.82
1972 15.51
1973 17.96
1974 22.28
1975 18.67
1976 21.15
1977 20.43
1978 19.59
1979 21.33
1980 22.79
1981 23.62
1982 22.39
1983 19.86
1984 21.43
1985 21.52
1986 17.46
1987 17.58
1988 17.53
1989 18.54
1990 18.06
1991 16.84
1992 17.43
1993 17.36
1994 18.58
1995 21.01
1996 19.17
1997 20.44
1998 21.03
1999 21.42
2000 24.78
2001 24.39
2002 23.65
2003 22.85
2004 23.42
2005 24.70
2006 26.99
2007 27.70
2008 27.63
2009 23.02
2010 26.93
2011 28.27
2012 27.28
2013 26.23
2014 26.21
2015 26.70
2016 26.04
2017 27.87
2018 28.95
2019 28.32
2020 25.70

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