Cuba - Merchandise imports from low- and middle-income economies within region (% of total merchandise imports)

Merchandise imports from low- and middle-income economies within region (% of total merchandise imports) in Cuba was 21.23 as of 2020. Its highest value over the past 39 years was 21.23 in 2020, while its lowest value was 6.44 in 1981.

Definition: 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.

Source: World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.

See also:

Year Value
1981 6.44
1982 7.01
1983 10.15
1984 13.77
1985 12.04
1986 9.41
1987 12.58
1988 13.61
1989 14.81
1990 14.61
1991 13.84
1992 15.90
1993 13.09
1994 16.91
1995 20.21
1996 20.15
1997 9.02
1998 6.55
1999 15.52
2000 14.24
2001 13.09
2002 12.27
2003 11.91
2004 12.43
2005 11.89
2006 11.82
2007 10.58
2008 14.46
2009 14.98
2010 17.70
2011 18.66
2012 18.71
2013 17.07
2014 18.62
2015 16.40
2016 17.58
2017 18.40
2018 20.19
2019 20.56
2020 21.23

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.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Imports