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

Imports of goods and services (% of GDP) in Nepal was 33.89 as of 2020. Its highest value over the past 55 years was 41.47 in 2019, while its lowest value was 6.95 in 1967.

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
1965 13.92
1966 8.76
1967 6.95
1968 7.50
1969 10.22
1970 8.30
1971 9.13
1972 7.92
1973 10.37
1974 10.55
1975 13.37
1976 14.18
1977 14.32
1978 15.47
1979 15.97
1980 18.73
1981 19.62
1982 18.81
1983 21.32
1984 19.45
1985 20.00
1986 20.30
1987 20.91
1988 22.38
1989 22.28
1990 21.66
1991 23.18
1992 25.74
1993 28.76
1994 31.44
1995 34.52
1996 35.64
1997 37.71
1998 33.89
1999 29.72
2000 32.43
2001 33.24
2002 28.49
2003 28.55
2004 29.46
2005 29.48
2006 31.32
2007 31.72
2008 33.26
2009 34.66
2010 36.40
2011 28.43
2012 29.17
2013 32.57
2014 35.86
2015 36.45
2016 33.94
2017 36.83
2018 40.63
2019 41.47
2020 33.89

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