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

Imports of goods and services (% of GDP) in Greece was 39.60 as of 2020. Its highest value over the past 60 years was 41.86 in 2019, while its lowest value was 14.12 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.

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

See also:

Year Value
1960 14.57
1961 14.12
1962 14.76
1963 15.27
1964 16.72
1965 17.02
1966 15.62
1967 15.23
1968 15.65
1969 15.60
1970 15.23
1971 15.16
1972 16.19
1973 20.09
1974 21.26
1975 21.18
1976 20.83
1977 20.68
1978 19.48
1979 20.36
1980 25.26
1981 25.75
1982 24.64
1983 24.70
1984 24.10
1985 24.25
1986 24.96
1987 24.19
1988 23.30
1989 24.84
1990 25.35
1991 24.39
1992 23.94
1993 22.98
1994 21.72
1995 22.68
1996 23.21
1997 23.05
1998 25.97
1999 28.12
2000 34.70
2001 33.35
2002 30.24
2003 29.65
2004 29.19
2005 29.59
2006 31.68
2007 35.00
2008 35.97
2009 28.76
2010 29.40
2011 31.34
2012 33.32
2013 32.67
2014 34.04
2015 33.15
2016 32.73
2017 36.54
2018 41.16
2019 41.86
2020 39.60

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