Latin America & Caribbean | Merchandise exports to low- and middle-income economies within region (% of total merchandise exports)
Merchandise exports to low- and middle-income economies within region are the sum of merchandise exports from the reporting economy to other low- and middle-income economies in the same World Bank region as a percentage of total merchandise exports 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
Latin America & Caribbean
Records
63
Source
Create chart Download showed records Download Full dataset
Latin America & Caribbean | Merchandise exports to low- and middle-income economies within region (% of total merchandise exports)
3.21863383 1960
2.81358301 1961
3.16342997 1962
3.60390203 1963
4.64756367 1964
5.58660836 1965
5.67819974 1966
5.67947894 1967
6.49774867 1968
6.75639973 1969
6.67793886 1970
8.93339567 1971
7.59261945 1972
7.47118059 1973
7.16356085 1974
8.54494482 1975
8.18590743 1976
7.99919948 1977
7.93387549 1978
7.93854427 1979
7.84536686 1980
8.08318278 1981
7.6199538 1982
6.32980622 1983
6.62215995 1984
6.19127164 1985
7.36158838 1986
7.02120161 1987
6.86070591 1988
7.40175729 1989
7.2883989 1990
7.74724587 1991
9.57854007 1992
10.81459952 1993
10.90764439 1994
10.5082271 1995
10.54108847 1996
11.30201489 1997
11.14563906 1998
8.71123571 1999
8.78139949 2000
9.26357507 2001
8.56407952 2002
8.92719443 2003
9.4117155 2004
9.7135814 2005
9.89085101 2006
10.71246009 2007
11.51690938 2008
11.33035763 2009
11.88627961 2010
11.76863509 2011
11.4680566 2012
11.31495929 2013
10.58451263 2014
10.5258084 2015
10.45828703 2016
10.62465111 2017
10.18981854 2018
9.61146116 2019
8.89252758 2020
2021
2022
Latin America & Caribbean | Merchandise exports to low- and middle-income economies within region (% of total merchandise exports)
Merchandise exports to low- and middle-income economies within region are the sum of merchandise exports from the reporting economy to other low- and middle-income economies in the same World Bank region as a percentage of total merchandise exports 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
Latin America & Caribbean
Records
63
Source
Create chart Download showed records Download Full dataset