Slovak Republic - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in Slovak Republic was 84.51 as of 2020. Its highest value over the past 30 years was 94.41 in 2018, while its lowest value was 33.35 in 1990.

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
1990 33.35
1991 46.26
1992 69.82
1993 59.74
1994 53.05
1995 54.63
1996 62.53
1997 63.98
1998 56.55
1999 51.14
2000 55.58
2001 64.56
2002 63.40
2003 62.81
2004 70.60
2005 75.43
2006 83.39
2007 82.95
2008 81.92
2009 68.20
2010 77.17
2011 84.00
2012 85.66
2013 88.18
2014 86.89
2015 88.80
2016 90.81
2017 93.14
2018 94.41
2019 91.87
2020 84.51

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