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

Imports of goods and services (% of GDP) in Norway was 33.09 as of 2020. Its highest value over the past 50 years was 44.33 in 1976, while its lowest value was 26.92 in 2003.

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
1970 37.10
1971 37.31
1972 34.19
1973 37.79
1974 42.54
1975 41.89
1976 44.33
1977 43.39
1978 35.62
1979 36.92
1980 36.73
1981 35.58
1982 35.90
1983 33.48
1984 33.52
1985 34.76
1986 36.97
1987 33.97
1988 33.05
1989 33.84
1990 33.17
1991 31.47
1992 30.53
1993 30.89
1994 31.39
1995 31.14
1996 31.18
1997 32.51
1998 35.11
1999 31.40
2000 28.92
2001 28.32
2002 27.24
2003 26.92
2004 27.92
2005 27.41
2006 27.71
2007 29.89
2008 28.97
2009 27.82
2010 28.49
2011 28.40
2012 27.53
2013 28.35
2014 29.67
2015 32.06
2016 33.48
2017 32.83
2018 32.24
2019 34.78
2020 33.09

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