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

Imports of goods and services (% of GDP) in Kuwait was 44.89 as of 2019. Its highest value over the past 54 years was 125.71 in 1991, while its lowest value was 13.84 in 1974.

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
1965 23.10
1966 24.36
1967 28.44
1968 26.08
1969 28.92
1970 24.12
1971 18.66
1972 20.66
1973 22.17
1974 13.84
1975 26.01
1976 32.55
1977 43.44
1978 39.87
1979 28.82
1980 34.30
1981 38.48
1982 52.36
1983 49.35
1984 44.64
1985 42.74
1986 48.01
1987 37.12
1988 42.94
1989 41.37
1990 58.07
1991 125.71
1992 54.22
1993 44.29
1994 42.33
1995 41.97
1996 39.19
1997 39.59
1998 51.10
1999 39.43
2000 30.15
2001 35.54
2002 36.61
2003 34.46
2004 32.38
2005 28.27
2006 24.17
2007 28.32
2008 25.92
2009 29.38
2010 30.35
2011 25.89
2012 26.28
2013 26.75
2014 31.53
2015 44.93
2016 48.53
2017 46.64
2018 45.62
2019 44.89

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