The Bahamas - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in The Bahamas was 25.63 as of 2020. Its highest value over the past 43 years was 67.52 in 1978, while its lowest value was 25.63 in 2020.

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
1977 66.14
1978 67.52
1979 60.20
1980 62.88
1981 62.37
1982 59.55
1983 58.02
1984 58.31
1985 59.27
1986 57.90
1987 55.80
1989 57.17
1990 55.96
1991 55.17
1992 51.21
1993 51.39
1994 53.38
1995 54.92
1996 57.82
1997 42.85
1998 43.07
1999 39.25
2000 41.60
2001 38.43
2002 34.10
2003 35.25
2004 37.79
2005 42.64
2006 49.24
2007 47.92
2008 47.94
2009 42.33
2010 43.72
2011 50.90
2012 46.12
2013 47.26
2014 46.07
2015 36.36
2016 36.64
2017 39.68
2018 39.55
2019 36.31
2020 25.63

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