Pacific island small states - Imports of goods and services (% of GDP)

Imports of goods and services (% of GDP) in Pacific island small states was 46.74 as of 2020. Its highest value over the past 40 years was 74.62 in 1990, while its lowest value was 46.74 in 2020.

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
1980 60.06
1981 65.14
1982 58.83
1983 60.07
1984 55.34
1985 56.67
1986 50.84
1987 54.41
1988 64.22
1989 70.92
1990 74.62
1991 69.82
1992 63.66
1993 67.45
1994 64.50
1995 62.70
1996 60.99
1997 59.72
1998 58.15
1999 57.70
2000 61.97
2001 61.23
2002 58.92
2003 62.13
2004 63.88
2005 61.36
2006 63.82
2007 61.64
2008 68.67
2009 60.68
2010 64.69
2011 64.54
2012 63.72
2013 66.89
2014 60.33
2015 57.37
2016 54.67
2017 54.84
2018 57.61
2019 59.47
2020 46.74

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