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

Imports of goods and services (% of GDP) in Lebanon was 25.91 as of 2020. Its highest value over the past 31 years was 99.91 in 1990, while its lowest value was 25.91 in 2020.

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
1989 91.58
1990 99.91
1991 79.93
1992 71.99
1993 67.18
1994 62.40
1995 62.33
1996 55.25
1997 47.55
1998 40.95
1999 36.75
2000 35.94
2001 39.95
2002 34.94
2003 37.35
2004 55.92
2005 56.14
2006 55.48
2007 60.83
2008 68.08
2009 57.20
2010 60.07
2011 65.78
2012 59.71
2013 59.49
2014 56.02
2015 48.57
2016 45.78
2017 46.27
2018 47.18
2019 40.71
2020 25.91

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