St. Kitts and Nevis - Imports of goods and services (current US$)

The latest value for Imports of goods and services (current US$) in St. Kitts and Nevis was $514,332,400 as of 2016. Over the past 39 years, the value for this indicator has fluctuated between $518,413,100 in 2015 and $24,000,000 in 1977.

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 current U.S. dollars.

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

See also:

Year Value
1977 $24,000,000
1978 $25,592,590
1979 $33,407,410
1980 $46,640,740
1981 $50,596,300
1982 $48,281,480
1983 $55,700,000
1984 $58,177,780
1985 $60,725,920
1986 $72,525,930
1987 $91,348,150
1988 $106,863,000
1989 $119,403,700
1990 $132,370,400
1991 $131,970,400
1992 $125,125,900
1993 $140,781,500
1994 $143,129,600
1995 $172,188,900
1996 $193,277,800
1997 $196,355,600
1998 $193,208,000
1999 $205,461,000
2000 $248,986,000
2001 $242,039,100
2002 $256,537,700
2003 $256,063,700
2004 $241,650,100
2005 $280,128,900
2006 $320,690,000
2007 $346,320,100
2008 $437,002,600
2009 $367,386,000
2010 $367,327,200
2011 $374,276,400
2012 $351,901,300
2013 $379,951,700
2014 $498,004,300
2015 $518,413,100
2016 $514,332,400

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

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts