Solomon Islands - Imports of goods and services (constant 2010 US$)

The latest value for Imports of goods and services (constant 2010 US$) in Solomon Islands was 567,831,400 as of 2020. Over the past 40 years, the value for this indicator has fluctuated between 719,246,000 in 2019 and 106,468,400 in 2002.

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. Data are in constant 2010 U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1980 163,102,800
1981 160,127,600
1982 157,471,200
1983 163,634,000
1984 163,952,800
1985 158,746,300
1986 165,440,400
1987 182,228,800
1988 238,438,200
1989 250,870,100
1990 231,319,000
1991 189,241,700
1992 175,322,200
1993 227,600,100
1994 260,008,100
1995 245,663,600
1996 202,629,900
1997 231,425,300
1998 216,336,900
1999 168,521,800
2000 129,632,200
2001 117,519,000
2002 106,468,400
2003 112,737,500
2004 133,563,600
2005 196,148,300
2006 281,153,000
2007 360,738,700
2008 355,957,200
2009 366,582,800
2010 528,941,700
2011 494,408,500
2012 498,127,500
2013 552,530,500
2014 543,923,800
2015 618,090,400
2016 645,716,900
2017 666,118,000
2018 684,819,100
2019 719,246,000
2020 567,831,400

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

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: Gap-filled total

Base Period: 2010

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts