Caribbean small states | Merchandise imports from low- and middle-income economies within region (% of total merchandise imports)

Merchandise imports from low- and middle-income economies within region are the sum of merchandise imports by the reporting economy from other low- and middle-income economies in the same World Bank region according to the World Bank classification of economies. Data are as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data. No figures are shown for high-income economies, because they are a separate category in the World Bank classification of economies. Development relevance: The relative importance of intraregional trade is higher for both landlocked countries and small countries with close trade links to the largest regional economy. For most low- and middle-income economies - especially smaller ones - there is a "geographic bias" favoring intraregional trade. Despite the broad trend toward globalization and the reduction of trade barriers, the relative share of intraregional trade increased for most economies between 1999 and 2010. This is due partly to trade-related advantages, such as proximity, lower transport costs, increased knowledge from repeated interaction, and cultural and historical affinity. The direction of trade is also influenced by preferential trade agreements that a country has made with other economies. Though formal agreements on trade liberalization do not automatically increase trade, they nevertheless affect the direction of trade between the participating economies. Limitations and exceptions: Data on exports and imports are from the International Monetary Fund's (IMF) Direction of Trade database and should be broadly consistent with data from other sources, such as the United Nations Statistics Division's Commodity Trade (Comtrade) database. All high-income economies and major low- and middle-income economies report trade data to the IMF on a timely basis, covering about 85 percent of trade for recent years. Trade data for less timely reporters and for countries that do not report are estimated using reports of trading partner countries. Therefore, data on trade between developing and high-income economies should be generally complete. But trade flows between many low- and middle-income economies - particularly those in Sub-Saharan Africa - are not well recorded, and the value of trade among low- and middle-income economies may be understated.
Publisher
The World Bank
Origin
Caribbean small states
Records
63
Source
Caribbean small states | Merchandise imports from low- and middle-income economies within region (% of total merchandise imports)
1960 1.32552404
1961 0.88943623
1962 0.74680454
1963 1.02692204
1964 0.97528194
1965 1.17154164
1966 0.94285096
1967 1.01310426
1968 0.9135535
1969 1.11489567
1970 1.12685911
1971 1.12141214
1972 1.56255443
1973 1.52376455
1974 1.32105672
1975 1.50137833
1976 1.13593716
1977 1.12947723
1978 1.45333867
1979 1.30004959
1980 2.04131549
1981 1.89578878
1982 1.89930495
1983 2.22129565
1984 1.77623871
1985 2.18315708
1986 2.49430034
1987 3.29852648
1988 3.6962327
1989 3.07790319
1990 4.3676493
1991 2.98154329
1992 3.83368644
1993 2.82523443
1994 3.31961792
1995 3.42279909
1996 3.16866871
1997 3.76406645
1998 3.31216849
1999 3.83885413
2000 4.6907315
2001 4.88712899
2002 5.08285511
2003 5.07273751
2004 5.35966029
2005 5.36685092
2006 4.62176985
2007 5.08909166
2008 4.62816463
2009 5.4162467
2010 5.64862236
2011 5.89940642
2012 5.32653751
2013 5.17784813
2014 5.20000658
2015 4.59530592
2016 5.41273321
2017 6.04343813
2018 6.6970341
2019 6.94072751
2020 7.60521587
2021
2022

Caribbean small states | Merchandise imports from low- and middle-income economies within region (% of total merchandise imports)

Merchandise imports from low- and middle-income economies within region are the sum of merchandise imports by the reporting economy from other low- and middle-income economies in the same World Bank region according to the World Bank classification of economies. Data are as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data. No figures are shown for high-income economies, because they are a separate category in the World Bank classification of economies. Development relevance: The relative importance of intraregional trade is higher for both landlocked countries and small countries with close trade links to the largest regional economy. For most low- and middle-income economies - especially smaller ones - there is a "geographic bias" favoring intraregional trade. Despite the broad trend toward globalization and the reduction of trade barriers, the relative share of intraregional trade increased for most economies between 1999 and 2010. This is due partly to trade-related advantages, such as proximity, lower transport costs, increased knowledge from repeated interaction, and cultural and historical affinity. The direction of trade is also influenced by preferential trade agreements that a country has made with other economies. Though formal agreements on trade liberalization do not automatically increase trade, they nevertheless affect the direction of trade between the participating economies. Limitations and exceptions: Data on exports and imports are from the International Monetary Fund's (IMF) Direction of Trade database and should be broadly consistent with data from other sources, such as the United Nations Statistics Division's Commodity Trade (Comtrade) database. All high-income economies and major low- and middle-income economies report trade data to the IMF on a timely basis, covering about 85 percent of trade for recent years. Trade data for less timely reporters and for countries that do not report are estimated using reports of trading partner countries. Therefore, data on trade between developing and high-income economies should be generally complete. But trade flows between many low- and middle-income economies - particularly those in Sub-Saharan Africa - are not well recorded, and the value of trade among low- and middle-income economies may be understated.
Publisher
The World Bank
Origin
Caribbean small states
Records
63
Source