Sri Lanka - 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 Sri Lanka was 21.16 as of 2020. Its highest value over the past 60 years was 30.72 in 2007, while its lowest value was 5.19 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
1960 15.17
1961 13.60
1962 11.15
1963 12.19
1964 10.61
1965 12.28
1966 10.85
1967 9.04
1968 9.10
1969 11.70
1970 12.91
1971 14.61
1972 9.40
1973 6.98
1974 11.07
1975 7.25
1976 10.24
1977 10.94
1978 10.43
1979 12.72
1980 6.50
1981 5.19
1982 5.21
1983 7.31
1984 7.08
1985 6.41
1986 7.89
1987 6.75
1988 7.98
1989 6.07
1990 6.98
1991 10.07
1992 12.15
1993 10.39
1994 11.55
1995 12.16
1996 13.65
1997 11.76
1998 10.35
1999 10.05
2000 10.84
2001 12.80
2002 15.94
2003 18.17
2004 20.22
2005 22.98
2006 23.49
2007 30.72
2008 25.83
2009 23.98
2010 27.19
2011 27.58
2012 24.73
2013 19.80
2014 22.34
2015 30.68
2016 22.07
2017 24.35
2018 21.88
2019 21.28
2020 21.16

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