1 article

Getting Richer, Trading More

A look at the correlation between gross domestic product (GDP) and openness to trade.

A well-established correlation in trade economics is the connection between gross domestic product (GDP) and openness to trade: as countries become wealthier, they tend to trade more as a percentage of their gross domestic product (GDP). The correlation is complex and not fully understood. As the authors of the World Bank’s Trade Competitiveness Diagnostic put […]