Peru - 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 Peru was 10.07 as of 2020. Its highest value over the past 60 years was 14.93 in 2014, while its lowest value was 3.40 in 1967.

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 5.09
1961 3.59
1962 4.85
1963 4.43
1964 5.10
1965 5.42
1966 4.79
1967 3.40
1968 4.15
1969 4.95
1970 4.88
1971 7.76
1972 7.03
1973 6.41
1974 9.12
1975 10.77
1976 10.73
1977 11.37
1978 10.55
1979 14.59
1980 12.92
1981 8.16
1982 10.06
1983 7.35
1984 7.79
1985 9.58
1986 10.10
1987 11.69
1988 10.05
1989 11.95
1990 11.59
1991 12.10
1992 13.45
1993 13.36
1994 13.55
1995 10.85
1996 12.04
1997 12.66
1998 13.01
1999 11.42
2000 11.89
2001 12.29
2002 10.96
2003 10.11
2004 11.28
2005 10.74
2006 10.85
2007 10.15
2008 10.15
2009 10.04
2010 10.65
2011 10.18
2012 10.54
2013 12.32
2014 14.93
2015 13.13
2016 13.24
2017 12.07
2018 10.67
2019 10.54
2020 10.07

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