Senegal - 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 Senegal was 38.67 as of 2020. Its highest value over the past 60 years was 51.07 in 2007, while its lowest value was 2.01 in 1961.

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 2.51
1961 2.01
1962 3.08
1963 3.09
1964 4.46
1965 5.73
1966 2.28
1967 3.89
1968 11.70
1969 4.46
1970 2.44
1971 27.12
1972 20.31
1973 27.50
1974 16.95
1975 16.55
1976 12.32
1977 19.61
1978 26.42
1979 17.82
1980 30.23
1981 36.28
1982 20.58
1983 12.98
1984 22.33
1985 20.72
1986 16.27
1987 19.95
1988 18.09
1989 16.47
1990 18.25
1991 12.47
1992 18.87
1993 17.68
1994 21.94
1995 25.55
1996 25.25
1997 25.66
1998 26.19
1999 25.51
2000 28.03
2001 30.10
2002 32.42
2003 38.67
2004 38.88
2005 40.70
2006 43.08
2007 51.07
2008 46.59
2009 43.72
2010 50.77
2011 43.32
2012 43.92
2013 46.17
2014 45.61
2015 42.42
2016 44.96
2017 42.52
2018 35.40
2019 41.13
2020 38.67

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