Puerto Rico - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in Puerto Rico was 46.04 as of 2018. Its highest value over the past 58 years was 61.63 in 1977, while its lowest value was 40.30 in 1998.

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
1960 53.52
1963 49.15
1964 52.17
1965 52.18
1966 51.94
1967 50.84
1968 49.42
1969 50.02
1970 49.92
1971 50.99
1972 49.10
1973 49.93
1974 55.45
1975 60.39
1976 60.56
1977 61.63
1978 58.72
1979 57.94
1980 59.84
1981 57.91
1982 50.65
1983 49.24
1984 49.72
1985 49.84
1986 45.88
1987 44.63
1988 44.95
1989 49.87
1990 51.37
1991 49.26
1992 44.43
1993 44.38
1994 41.96
1995 44.12
1996 42.04
1997 44.38
1998 40.30
1999 43.74
2000 43.83
2001 42.12
2002 40.47
2003 45.10
2004 48.43
2005 46.36
2006 48.85
2007 50.56
2008 47.98
2009 42.18
2010 41.48
2011 44.51
2012 45.86
2013 44.02
2014 41.56
2015 41.66
2016 41.52
2017 44.41
2018 46.04

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