Variables | Description | Data sources |
| It is the dependent variable that measures the bilateral trade betwen i and j. | WITS (COMTRADE) |
| This is the distance that separates country i and j. It’s calculated from geographic coordinates and measured in kilometers. | CEPII |
| Gross Domestic Product (GDP) of country i and j | UNCTAD |
| Population Total of countries i and j | UNCTAD |
| Dummy variable indicating common language sharing between countries i and j | CEPII |
| Dummy variable that indicates whether countries i and j have a common colonizer | CEPII |
| Dummy variable to capture if countries i and j have a maritime opening | CEPII |
| This is the simple arithmetic mean of governance indicators | Authors based on World Bank |
| It’s all the physical infrastructure that considered in the model | WDI and UIT |