Canada - Imports of goods and services (constant 2010 US$)

The latest value for Imports of goods and services (constant 2010 US$) in Canada was 516,956,000,000 as of 2020. Over the past 59 years, the value for this indicator has fluctuated between 579,926,000,000 in 2019 and 32,674,790,000 in 1961.

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. Data are in constant 2010 U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1961 32,674,790,000
1962 33,410,750,000
1963 34,000,560,000
1964 38,289,100,000
1965 43,404,750,000
1966 49,174,680,000
1967 51,870,060,000
1968 57,150,790,000
1969 64,769,230,000
1970 63,771,890,000
1971 67,989,940,000
1972 77,725,140,000
1973 88,927,970,000
1974 97,893,680,000
1975 95,045,260,000
1976 100,870,000,000
1977 100,502,000,000
1978 103,661,000,000
1979 111,089,000,000
1980 107,676,000,000
1981 109,854,000,000
1982 92,412,850,000
1983 101,751,000,000
1984 119,439,000,000
1985 129,306,000,000
1986 137,803,000,000
1987 145,245,000,000
1988 164,890,000,000
1989 174,470,000,000
1990 177,855,000,000
1991 182,322,000,000
1992 191,672,000,000
1993 206,015,000,000
1994 223,107,000,000
1995 236,010,000,000
1996 248,664,000,000
1997 284,371,000,000
1998 299,437,000,000
1999 323,557,000,000
2000 351,018,000,000
2001 333,795,000,000
2002 340,010,000,000
2003 354,403,000,000
2004 384,549,000,000
2005 412,811,000,000
2006 434,775,000,000
2007 459,882,000,000
2008 463,999,000,000
2009 406,488,000,000
2010 462,536,000,000
2011 488,411,000,000
2012 506,524,000,000
2013 517,046,000,000
2014 530,132,000,000
2015 534,115,000,000
2016 534,386,000,000
2017 559,114,000,000
2018 577,863,000,000
2019 579,926,000,000
2020 516,956,000,000

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

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: Gap-filled total

Base Period: 2010

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts