Openness index
The openness Index is an economic metric calculated as the ratio of a country's total trade, the sum of exports plus imports, to the country's gross domestic product.[1] = (Exports + Imports)/(Gross Domestic Product)[2]
The interpretation of the openness index is, the higher the index, the larger the influence of trade on domestic activities and the stronger that country's economy.[3]
References
[edit]- ^ Glossary, International Economics. "Deardorffs' Glossary of International Economics entry". Retrieved 21 September 2011.
- ^ "Trade (% of GDP) | Data".
- ^ "Homepage" (PDF).