In general, when indicators are ratios, aggregates are computed using weights corresponding to the denominator of the ratio. Because of missing data, aggregates for groups of economies should be treated as approximations of unknown totals or average values. The aggregation rules are intended to yield estimates for a consistent set of economies from one period to the next and for all indicators. Small differences between sums of subgroup aggregates and overall totals and averages may occur because of the approximations used. In addition, compilation errors and data reporting practices may cause discrepancies in theoretically identical aggregates such as world exports and world imports.
Five methods of aggregation are used in World Development Indicators:
• For group and world totals denoted in the indicator metadata as gap-filled total, missing data are imputed based on the relationship of the sum of available data to the total in the year of the previous estimate. The imputation process works forward and backward from 2010. Missing values in 2010 are imputed using one of several proxy variables for which complete data are available in that year. The imputed value is calculated so that it (or its proxy) bears the same relationship to the total of available data. Imputed values are usually not calculated if missing data account for more than a third of the total in the benchmark year. The variables used as proxies are GNI in U.S. dollars; total population; exports and imports of goods and services in U.S. dollars; and value added in agriculture, industry, manufacturing, and services in U.S. dollars.
• For aggregates denoted in the indicator metadata as sums, missing values are not imputed. Sums are not computed if more than a third of the observations in the series or a proxy for the series are missing in a given year.
• For aggregates of ratios denoted as weighted averages of the ratios (using the value of the denominator or, in some cases, another indicator as a weight) and denoted as unweighted averages, the aggregate ratios are based on available data. Missing values are assumed to have the same average value as the available data. No aggregate is calculated if missing data account for more than a third of the value of weights in the benchmark year. In a few cases the aggregate ratio may be computed as the ratio of group totals after imputing values for missing data according to the above rules for computing totals. In a few cases growth rates may be computed from time series of group totals. Growth rates are not calculated if more than half the observations in a period are missing.
• Aggregates denoted as medians in the indicator metadata are medians of the values shown in the table. No value is shown if more than half the observations for countries with a population of more than 1 million are missing. Exceptions to the rules may occur. Depending on the judgment of World Bank analysts, the aggregates may be based on as little as 50 percent of the available data. In other cases, where missing or excluded values are judged to be small or irrelevant, aggregates are based only on the data shown in the tables.