IDA total - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in IDA total was 24.75 as of 2020. Its highest value over the past 45 years was 30.43 in 2008, while its lowest value was 18.22 in 1982.

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
1975 23.54
1976 25.38
1977 24.96
1978 25.55
1979 25.86
1980 27.74
1981 20.46
1982 18.22
1983 18.33
1984 18.85
1985 18.97
1986 19.16
1987 20.98
1988 20.20
1989 21.70
1990 21.72
1991 22.70
1992 25.09
1993 26.12
1994 28.17
1995 28.68
1996 29.11
1997 28.90
1998 27.40
1999 26.06
2000 24.30
2001 26.66
2002 26.07
2003 26.98
2004 26.46
2005 28.22
2006 28.00
2007 30.35
2008 30.43
2009 28.19
2010 28.74
2011 29.63
2012 27.68
2013 27.16
2014 25.84
2015 24.56
2016 24.42
2017 25.52
2018 28.39
2019 28.00
2020 24.75

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