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

Imports of goods and services (% of GDP) in Nicaragua was 47.15 as of 2020. Its highest value over the past 60 years was 67.71 in 2012, while its lowest value was 13.76 in 1987.

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 26.17
1961 24.55
1962 28.90
1963 30.24
1964 30.50
1965 32.41
1966 34.12
1967 35.04
1968 30.39
1969 27.18
1970 29.19
1971 28.54
1972 29.64
1973 37.80
1974 42.61
1975 36.94
1976 31.84
1977 37.43
1978 31.25
1979 28.13
1980 43.27
1981 41.78
1982 26.06
1983 29.99
1984 29.45
1985 21.83
1986 20.83
1987 13.76
1988 58.27
1989 65.19
1990 46.34
1991 52.51
1992 53.27
1993 47.86
1994 25.94
1995 27.94
1996 31.64
1997 38.59
1998 37.68
1999 44.01
2000 41.19
2001 38.94
2002 39.24
2003 41.47
2004 44.14
2005 47.26
2006 56.04
2007 59.96
2008 62.32
2009 53.01
2010 59.90
2011 66.81
2012 67.71
2013 65.77
2014 61.69
2015 58.11
2016 54.93
2017 55.04
2018 51.71
2019 49.53
2020 47.15

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