South Africa - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in South Africa was 23.35 as of 2020. Its highest value over the past 60 years was 33.72 in 2008, while its lowest value was 15.78 in 1993.

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 24.56
1961 21.30
1962 20.66
1963 23.19
1964 25.52
1965 26.78
1966 23.14
1967 24.23
1968 22.23
1969 22.47
1970 24.64
1971 25.35
1972 22.17
1973 22.10
1974 27.71
1975 29.23
1976 28.07
1977 24.45
1978 24.87
1979 25.00
1980 26.55
1981 29.42
1982 26.02
1983 20.35
1984 22.93
1985 21.87
1986 21.08
1987 19.71
1988 21.90
1989 20.72
1990 18.19
1991 16.95
1992 16.78
1993 15.78
1994 17.57
1995 19.44
1996 20.42
1997 20.64
1998 21.52
1999 19.99
2000 21.82
2001 22.81
2002 25.03
2003 21.81
2004 22.89
2005 23.83
2006 27.67
2007 29.17
2008 33.72
2009 24.60
2010 24.62
2011 26.94
2012 28.44
2013 30.50
2014 30.50
2015 29.01
2016 27.71
2017 26.20
2018 27.02
2019 26.81
2020 23.35

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