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

Imports of goods and services (% of GDP) in Uruguay was 21.00 as of 2020. Its highest value over the past 60 years was 35.01 in 2008, while its lowest value was 9.51 in 1973.

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 18.62
1961 14.77
1962 14.43
1963 12.02
1964 11.34
1965 11.48
1966 11.49
1967 13.18
1968 12.21
1969 12.13
1970 15.21
1971 11.43
1972 14.89
1973 9.51
1974 16.89
1975 20.28
1976 20.08
1977 22.66
1978 21.15
1979 21.17
1980 20.63
1981 19.03
1982 17.29
1983 23.60
1984 21.38
1985 21.10
1986 20.27
1987 19.21
1988 17.74
1989 17.70
1990 18.10
1991 17.86
1992 19.63
1993 19.56
1994 20.38
1995 19.10
1996 19.86
1997 20.25
1998 19.22
1999 18.29
2000 20.02
2001 19.50
2002 19.41
2003 24.33
2004 29.36
2005 28.47
2006 31.67
2007 30.12
2008 35.01
2009 26.30
2010 25.36
2011 26.82
2012 29.14
2013 26.36
2014 25.54
2015 22.85
2016 21.62
2017 20.66
2018 21.43
2019 21.86
2020 21.00

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