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

Imports of goods and services (% of GDP) in Kiribati was 87.25 as of 2018. Its highest value over the past 46 years was 123.32 in 1992, while its lowest value was 23.80 in 1974.

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
1972 39.40
1973 39.30
1974 23.80
1975 27.81
1976 35.70
1977 38.20
1978 46.20
1979 59.59
1980 49.35
1981 74.05
1982 66.26
1983 60.29
1984 53.06
1985 46.13
1986 42.04
1987 109.98
1988 86.27
1989 96.17
1990 117.87
1991 94.70
1992 123.32
1993 103.37
1994 81.88
1995 104.14
1996 92.40
1997 91.36
1998 80.14
1999 93.87
2000 93.21
2001 97.79
2002 110.01
2003 93.05
2004 91.01
2005 111.29
2006 89.49
2007 87.64
2008 84.77
2009 88.39
2010 78.56
2011 86.56
2012 90.71
2013 93.86
2014 102.71
2015 107.39
2016 109.59
2017 103.90
2018 87.25

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