Is it possible that the amount of import of a country to be larger than its GDP?
Answer:
As long as their exports are high as well, sure.
GDP uses NET exports (exports - imports) as the variable.
i'm no expert, but i dont see why not
i believe thats what we call a "trade deficit" and a "fiscal deficit"
however, its hard to imagine can survive for very long, given a certain amt. of time
It can be because the GDP is formed by others variables.
The formula of GDP is GDP=C+G+I+X-M, where X is export and M is import. So imagine you have C=G=I=X=5, the M can be more than the X but not much bigger than the addition of the variables like C (consume) cuz what you import, part of that, it have to be consumed. SO you could have M=15. the GDP would be 5 and M=15. Conclusion the Import amount is larger than the GDP, if the others variables are very smaller, but it would be very irealistic.
GDP= consumer consumption+investment+gov't consumption +exports -imports
It is possible but unlikely.
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