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

Imports of goods and services (% of GDP) in Lesotho was 105.38 as of 2020. Its highest value over the past 60 years was 138.63 in 1976, while its lowest value was 38.46 in 1960.

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 38.46
1961 45.49
1962 47.83
1963 50.89
1964 49.60
1965 53.32
1966 56.54
1967 56.70
1968 55.14
1969 51.57
1970 48.88
1971 54.84
1972 69.13
1973 67.78
1974 77.07
1975 103.98
1976 138.63
1977 112.43
1978 90.60
1979 123.62
1980 110.09
1981 117.01
2007 111.81
2008 108.21
2009 114.14
2010 107.98
2011 102.07
2012 108.41
2013 95.24
2014 88.14
2015 86.83
2016 94.50
2017 98.91
2018 95.91
2019 94.74
2020 105.38

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