United States Trade (% of GDP) USTRADE Economic
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What is United States Trade (% of GDP)?
This economic indicator quantifies the total value of a nation's exports and imports of goods and services relative to its Gross Domestic Product (GDP). It provides a crucial measure of a country's integration into the global economy and the significance of international trade to its overall economic activity. For economists and policymakers, USTRADE offers insights into a nation's competitiveness, its reliance on foreign markets for demand, and its vulnerability to global economic shocks. A rising percentage suggests increased global trade participation, potentially indicating stronger export performance or higher import dependency. Conversely, a declining percentage might signal a contraction in international trade, possibly due to protectionist policies, weaker global demand, or a shift towards domestic production. The calculation involves summing the value of all exported goods and services and all imported goods and services, then dividing this total by the country's GDP for the same period. This ratio is then expressed as a percentage. Fluctuations in USTRADE can signal shifts in economic growth drivers, changes in trade balances, and the potential impact of international economic conditions on domestic employment and production.
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