Nicaragua - Merchandise exports to low- and middle-income economies within region (% of total merchandise exports)

Merchandise exports to low- and middle-income economies within region (% of total merchandise exports) in Nicaragua was 27.43 as of 2020. Its highest value over the past 60 years was 42.85 in 2003, while its lowest value was 4.98 in 1962.

Definition: 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.

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

See also:

Year Value
1960 6.54
1961 5.12
1962 4.98
1963 5.16
1964 6.05
1965 8.66
1966 11.88
1967 12.34
1968 15.76
1969 20.58
1970 26.91
1971 26.37
1972 23.41
1973 22.48
1974 24.92
1975 25.23
1976 23.13
1977 22.34
1978 22.87
1979 16.40
1980 18.41
1981 19.37
1982 18.29
1983 14.31
1984 14.46
1985 11.83
1986 17.54
1987 17.18
1988 14.33
1989 27.97
1990 22.32
1991 25.18
1992 27.83
1993 26.55
1994 29.47
1995 21.63
1996 25.47
1997 25.96
1998 24.70
1999 31.09
2000 29.79
2001 35.13
2002 39.72
2003 42.85
2004 39.50
2005 40.12
2006 40.87
2007 42.11
2008 40.35
2009 37.92
2010 27.50
2011 24.74
2012 23.26
2013 24.59
2014 26.34
2015 26.73
2016 29.00
2017 25.10
2018 29.95
2019 27.85
2020 27.43

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: Exports