Tonga - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in Tonga was 62.27 as of 2020. Its highest value over the past 45 years was 72.23 in 1985, while its lowest value was 35.09 in 1999.

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
1975 70.82
1976 56.63
1977 57.18
1978 67.87
1979 69.80
1980 67.72
1981 67.25
1982 64.63
1983 69.17
1984 62.96
1985 72.23
1986 69.88
1987 64.61
1988 66.75
1989 62.81
1990 65.10
1991 60.56
1992 48.99
1993 47.55
1994 45.77
1995 54.16
1996 57.71
1997 50.99
1998 58.70
1999 35.09
2000 38.55
2001 45.18
2002 55.26
2003 56.68
2004 56.62
2005 56.87
2006 51.92
2007 58.22
2008 52.71
2009 64.52
2010 60.69
2011 62.55
2012 60.97
2013 62.59
2014 57.95
2015 64.49
2016 63.27
2017 65.81
2018 66.14
2019 65.16
2020 62.27

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