Togo Trade (% of GDP) TGOTRADE Economic
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What is Togo Trade (% of GDP)?
This indicator quantifies the total value of a nation's exports and imports of goods and services as a percentage of its Gross Domestic Product (GDP). It serves as a crucial measure of a country's integration into the global economy and its reliance on international commerce for economic activity. For economists and policymakers, this figure provides insights into a nation's competitiveness, its exposure to external economic shocks, and the potential impact of trade policies. A higher percentage suggests a more open economy, potentially benefiting from increased specialization and access to a wider range of goods and services. Conversely, a lower percentage might indicate a more domestically focused economy, possibly with less reliance on imports or exports. The calculation involves summing the value of all exports and imports, then dividing that sum by the country's total GDP for a given period. An upward trend typically signals increasing international trade engagement, which can be associated with economic growth and greater efficiency. A downward trend might suggest a slowdown in global trade, domestic economic weakness, or protectionist policies, potentially leading to reduced economic dynamism.
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