Trade bloc

Trade blocs can be stand-alone agreements between several states (such as the USMCA) or part of a regional organization (such as the European Union).

Depending on the level of economic integration, trade blocs can be classified as preferential trading areas, free-trade areas, customs unions, common markets, or economic and monetary unions.

[2] Economist Jeffrey J. Schott of the Peterson Institute for International Economics notes that members of successful trade blocs usually share four common traits: similar levels of per capita GNP, geographic proximity, similar or compatible trading regimes, and political commitment to regional organization.

A single market is a type of trade bloc in which most trade barriers have been removed (for goods) with some common policies on product regulation, and freedom of movement of the factors of production (capital and labour) and of enterprise and services.

8 Additionally some non member states also participate (ASEAN Plus Three) 9 Limited to "entitled persons" and duration of one year.

Stages of economic integration around the World (each country colored according to the most integrated multilateral agreement that it participates in):
Economic and monetary union ( ECCU / XCD , Eurozone / EUR , Switzerland–Liechtenstein / CHF )
Economic union ( CSME , EAEU , EU , GCC , Mercosur , SICA )
Common market ( EEA –Switzerland )
Customs and monetary union ( CEMAC / XAF , UEMOA / XOF )
Customs union ( CAN , EAC , EUCU , SACU )
Multilateral free-trade area ( AANZFTA , ASEAN , CEFTA , CISFTA , COMESA , CPTPP , EFTA , GAFTA , PAFTA , RCEP , SADCFTA , SAFTA , USMCA )
Selection of GDP PPP data (top 10 countries and blocs) in no particular order