Imports of goods and services (annual % growth)

This indicator reflects the yearly percentage increase in the value of goods and services imported, calculated using constant local currency to eliminate inflationary effects. By expressing figures in U.S. dollars at 2015 constant prices, it provides a clearer picture of a country's import dynamics. The measure encompasses a broad range of imports, including merchandise, freight, and various market services from overseas, such as travel, royalties, and diverse financial and business services. Notably, it excludes employee compensation, investment income, and transfer payments, offering a focused view of international trade and economic activity. Understanding this growth rate is vital for assessing a nation's dependence on foreign markets and the overall health of its economy in a global context. Source: