New Zealand - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in New Zealand was 22.48 as of 2020. Its highest value over the past 49 years was 34.39 in 1984, while its lowest value was 21.40 in 1972.

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
1971 21.69
1972 21.40
1973 23.86
1974 32.93
1975 30.03
1976 29.26
1977 27.75
1978 25.90
1979 30.18
1980 29.89
1981 30.95
1982 30.71
1983 29.58
1984 34.39
1985 31.44
1986 26.13
1987 23.88
1988 22.21
1989 25.63
1990 25.85
1991 25.47
1992 28.04
1993 26.95
1994 28.04
1995 27.52
1996 26.77
1997 26.93
1998 28.28
1999 30.45
2000 32.77
2001 31.80
2002 29.81
2003 28.08
2004 29.26
2005 29.73
2006 29.99
2007 29.15
2008 32.33
2009 26.41
2010 27.98
2011 28.85
2012 28.16
2013 27.20
2014 27.18
2015 26.96
2016 25.85
2017 26.57
2018 27.90
2019 27.10
2020 22.48

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