Saudi Arabia - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in Saudi Arabia was 24.26 as of 2020. Its highest value over the past 52 years was 47.68 in 1983, while its lowest value was 13.20 in 1974.

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
1968 24.72
1969 24.94
1970 21.56
1971 17.92
1972 18.27
1973 20.92
1974 13.20
1975 21.73
1976 24.25
1977 32.56
1978 41.60
1979 34.24
1980 27.30
1981 30.09
1982 39.12
1983 47.68
1984 45.22
1985 36.64
1986 35.79
1987 37.13
1988 35.20
1989 38.08
1990 31.37
1991 36.39
1992 35.99
1993 33.45
1994 26.07
1995 27.70
1996 26.63
1997 26.03
1998 26.46
1999 23.18
2000 24.76
2001 23.93
2002 23.64
2003 23.98
2004 24.10
2005 24.90
2006 30.11
2007 34.93
2008 33.99
2009 37.77
2010 32.98
2011 29.49
2012 29.24
2013 30.79
2014 33.77
2015 37.80
2016 30.72
2017 29.33
2018 26.65
2019 27.61
2020 24.26

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