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The issue of the (in)accuracy of foreign trade statistics remains in the economics, development and trade literature to the present day. This chapter proposes a non-parametric test in order to establish the level of accuracy of the Latin American foreign trade statistics when contrasted with the trade statistics of the main trading partners.
The study of Federico and Tena showed that, in historical terms, the accuracy of foreign trade statistics seems to be more robust than previously thought. The results of this chapter also point in such a direction. Nevertheless, this chapter departs from previous exercises regarding the (in)accuracy of foreign trade data in several aspects. First, the chapter focuses in the trade of a particular region in a single year. That is the chapter provides a test for the accuracy of the foreign trade statistics of seventeen Latin American countries for the year 1925. Second, rather than testing for the accuracy of the overall trade figures, the test is performed on data registered for a couple of quite homogeneous products, petroleum products and mineral coal. Third, the test applies to the accuracy of both the volumes and values registered on the official statistics of the exporting and importing countries. Most previous exercises did only test for the accuracy of the values registered, since the aggregate trade figures were used.
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