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

Imports of goods and services (% of GDP) in Paraguay was 29.33 as of 2020. Its highest value over the past 58 years was 62.26 in 1994, while its lowest value was 12.97 in 1963.

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
1962 14.68
1963 12.97
1964 14.34
1965 15.75
1966 16.14
1967 15.63
1968 16.77
1969 18.20
1970 16.12
1971 15.94
1972 13.84
1973 14.27
1974 17.16
1975 17.85
1976 18.04
1977 22.44
1978 22.11
1979 21.56
1980 20.05
1981 17.98
1982 19.76
1983 15.89
1984 22.75
1985 27.13
1986 32.85
1987 36.11
1988 36.69
1989 31.08
1990 39.08
1991 38.30
1992 39.66
1993 53.68
1994 62.26
1995 56.29
1996 50.29
1997 47.46
1998 46.97
1999 34.76
2000 35.31
2001 31.96
2002 31.97
2003 33.98
2004 34.42
2005 37.43
2006 38.44
2007 35.63
2008 38.34
2009 32.74
2010 39.12
2011 38.25
2012 36.77
2013 34.66
2014 33.62
2015 32.17
2016 30.62
2017 33.04
2018 35.58
2019 35.16
2020 29.33

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