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

Imports of goods and services (% of GDP) in Oman was 36.80 as of 2020. Its highest value over the past 53 years was 55.19 in 1973, while its lowest value was 11.90 in 1969.

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
1967 22.42
1968 14.74
1969 11.90
1970 19.66
1971 32.13
1972 43.75
1973 55.19
1974 47.76
1975 50.69
1976 45.97
1977 44.04
1978 48.73
1979 40.71
1980 37.66
1981 38.09
1982 43.15
1983 38.07
1984 37.58
1985 37.18
1986 40.93
1987 29.07
1988 31.35
1990 27.60
1991 34.74
1992 35.55
1993 38.05
1994 34.79
1995 35.56
1996 35.77
1997 38.59
1998 50.04
1999 38.56
2000 32.56
2001 37.06
2002 37.30
2003 40.02
2004 44.52
2005 35.95
2006 37.02
2007 46.19
2008 43.65
2009 44.51
2010 37.29
2011 37.72
2012 39.35
2013 46.51
2014 40.84
2015 46.72
2016 41.54
2017 43.24
2018 38.66
2019 36.98
2020 36.80

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