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

Imports of goods and services (% of GDP) in Namibia was 43.03 as of 2020. Its highest value over the past 40 years was 72.20 in 2009, while its lowest value was 40.12 in 1985.

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
1980 56.27
1981 67.79
1982 60.93
1983 52.65
1984 51.54
1985 40.12
1986 46.19
1987 51.38
1988 44.75
1989 46.51
1990 50.20
1991 49.87
1992 48.96
1993 49.49
1994 45.39
1995 48.87
1996 51.14
1997 50.20
1998 50.76
1999 49.67
2000 44.40
2001 47.53
2002 48.25
2003 52.52
2004 42.06
2005 40.27
2006 41.47
2007 55.12
2008 65.99
2009 72.20
2010 59.79
2011 56.65
2012 60.16
2013 60.22
2014 64.06
2015 61.87
2016 58.96
2017 47.60
2018 45.83
2019 47.03
2020 43.03

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