Commodity composition of trade in manufactures and south‐south trade potential

Abstract

Using two different measures, the degree of correspondence between a country's export vector of manufactures and a trade partner's import vector is determined. These export‐import similarity measures are shown to contribute to an explanation of bilateral trade intensity. They are then used in computing an index of export potential in manufactures for 34 developing countries, and an index showing the potential to replace LDC imports presently originating from developed countries. Given the existing LDC commodity composition, the possibility of substituting imports of DC manufactures by LDC supplies ‐ for example, through preferential inter‐LDC trading ‐is found to be limited only.

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