“…Over the years, in addition to the fundamental gravity variables, the gross domestic products of the trading partners, which stand for economic masses, and the weighted distance between the capitals of the trading partners, many authors have included various trade facilitation, logistics, socio-economic variables that influence bilateral trade (Anderson & van Wincoop, 2004;Baier & Bergstrand, 2001;Baldwin & Taglioni, 2007;Soloaga et al 2006;Head & Mayer, 2014;Host et al, 2019;Bugarčić et al, 2020;Zaninović et al, 2020;Zaninović et al, 2023). This equation was previously estimated based on cross-section data.…”