St. Vincent and the Grenadines - Imports of goods and services (current US$)

The latest value for Imports of goods and services (current US$) in St. Vincent and the Grenadines was $413,333,300 as of 2016. Over the past 39 years, the value for this indicator has fluctuated between $430,817,200 in 2008 and $31,840,740 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 $31,840,740
1978 $38,481,480
1979 $51,925,920
1980 $63,303,700
1981 $66,214,820
1982 $75,818,520
1983 $80,544,450
1984 $85,792,590
1985 $88,859,260
1986 $102,374,100
1987 $113,807,400
1988 $136,285,200
1989 $161,903,700
1990 $152,266,700
1991 $154,870,400
1992 $161,688,900
1993 $162,922,200
1994 $170,070,400
1995 $174,511,100
1996 $186,288,900
1997 $228,948,100
1998 $249,014,800
1999 $239,970,400
2000 $200,470,400
2001 $209,458,900
2002 $214,818,900
2003 $241,392,500
2004 $272,195,900
2005 $291,193,500
2006 $325,853,300
2007 $402,115,700
2008 $430,817,200
2009 $388,043,600
2010 $389,177,000
2011 $376,618,800
2012 $401,395,700
2013 $418,412,900
2014 $411,868,200
2015 $411,481,500
2016 $413,333,300

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