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

Imports of goods and services (% of GDP) in Portugal was 39.14 as of 2020. Its highest value over the past 50 years was 43.06 in 2019, while its lowest value was 24.06 in 1976.

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 24.10
1971 25.02
1972 24.89
1973 26.30
1974 32.89
1975 25.55
1976 24.06
1977 26.09
1978 25.37
1979 29.54
1980 32.78
1981 35.25
1982 35.08
1983 34.38
1984 35.23
1985 32.27
1986 28.03
1987 32.24
1988 35.56
1989 35.40
1990 35.89
1991 33.82
1992 31.85
1993 30.58
1994 32.04
1995 33.14
1996 33.66
1997 35.15
1998 36.50
1999 36.83
2000 39.25
2001 37.65
2002 35.23
2003 33.77
2004 35.54
2005 35.86
2006 38.19
2007 38.75
2008 40.81
2009 34.20
2010 37.71
2011 38.64
2012 38.27
2013 38.51
2014 40.07
2015 39.88
2016 39.06
2017 41.71
2018 42.98
2019 43.06
2020 39.14

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