Trade-to-GDP ratio

The trade-to-GDP ratio is an indicator of the relative importance of international trade in the economy of a country.

[2]: 64 Other factors aside, the trade-to-GDP ratio tends to be low in countries with large economies and large populations such as Japan and the United States and to have a higher value in small economies.

[2]: 63 [3] Singapore has the highest trade-to-GDP ratio of any country; between 2008 and 2011 it averaged about 400%.

[4]: vii For economies such as Armenia the trade to GDP ratio is not as high as for Singapore, but at the same time it is not as low as for the developed countries such as USA and Japan.

Taking into account the last available data for Armenia, trade openness is approximately 78% for 2021.