Hello everyone,
I was looking at trade statistics on wits.worldbank.org, and I am facing a bit of a struggle understanding the information. For example, if I look at import and export values for China and narrow down the values for Burundi, I get a trade balance of 38,323.58, export value of 45, 252.63 and import value of 6,929.05 for 2017.
However, if I do the same for Burundi and narrow on China as a trading partner, I get the values -105, 820.60, 2,230.72 and 108,051.32 for trade balance, export and import respectively.
I am wondering why these values are different (imports for China don't match exports for Burudi, etc)? Sorry if this is something obvious but it is the first time I've looked at such information.
I don't know exactly, but the World Bank probably does not compile this data itself, but rather receives it from individual countries. Each country has its own methodology for registering trade, and this is, in my opinion, the reason for these differences.
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