Trade globalization
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Trade globalization is a type of economic globalization and a measure (economic indicator) of economic integration. On a national scale, it loosely represents the proportion of all production that crosses the boundaries of a country, as well as the number of jobs in that country dependent upon external trade. On a global scale, it represents the proportion of all world production that is used for imports and exports between countries.
- For an individual country, trade globalization is measured as the proportion of that country's total volume of trade to its Gross Domestic Product (GDP):[1]
- For the world as a whole, trade globalization is the share of total world trade in total world production (GDP), where the sums are taken over all countries:[2]