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

Imports of goods and services (% of GDP) in Vanuatu was 43.88 as of 2020. Its highest value over the past 40 years was 68.42 in 1990, while its lowest value was 35.35 in 1981.

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
1980 39.10
1981 35.35
1982 38.83
1983 62.80
1984 58.39
1985 64.81
1986 60.81
1987 60.27
1988 56.39
1989 59.01
1990 68.42
1991 54.21
1992 51.85
1993 51.82
1994 50.36
1995 50.08
1996 49.83
1997 47.29
1998 52.45
1999 53.85
2000 47.98
2001 49.82
2002 49.39
2003 48.29
2004 53.11
2005 54.79
2006 48.27
2007 48.58
2008 59.30
2009 57.93
2010 55.10
2011 51.39
2012 53.14
2013 54.73
2014 53.96
2015 67.01
2016 60.68
2017 57.87
2018 60.02
2019 49.90
2020 43.88

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