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The terms of trade for the other country must be the reciprocal (100/50 = 2). When this number is falling, the country is said to have "deteriorating terms of trade". If multiplied by 100, these calculations can be expressed as a percentage (50% and 200% respectively). If a country's terms of trade fall from say 100% to 70% (from 1.0 to 0.7 ...
World map by trade as a share of GDP [1]. This is a list of countries by trade-to-GDP ratio, i.e. the sum of exports and imports of goods and services, divided by gross domestic product, expressed as a percentage, based on the data published by World Bank.
Trade openness in 2017 [1] The trade-to-GDP ratio is an indicator of the relative importance of international trade in the economy of a country. It is calculated by dividing the aggregate value of imports and exports over a period by the gross domestic product for the same period. Although called a ratio, it is usually expressed as a percentage.
Thirlwall's law (named after Anthony Thirlwall) states that if long-run balance of payments equilibrium on current account is a requirement, and the real exchange rate stays relatively constant, then the long run growth of a country can be approximated by the ratio of the growth of exports to the income elasticity of demand for imports (Thirlwall, 1979).
Balance of trade is the difference between the monetary value of a nation's exports and imports of goods over a certain time period. [1] Sometimes services are also considered but the official IMF definition only considers goods. The balance of trade measures a flow variable of exports and imports over a given period of time. The notion of the ...
Market size can be given in terms of the number of buyers and sellers in a particular market [61] or in terms of the total exchange of money in the market, generally annually (per year). When given in terms of money, market size is often termed "market value", but in a sense distinct from market value of individual products. For one and the ...
Based on Pew’s analysis, a household of three needs an income of $156,600 to meet the definition of upper class, which amounts to more than double the national median.
The economic data published on FRED are widely reported in the media and play a key role in financial markets. In a 2012 Business Insider article titled "The Most Amazing Economics Website in the World", Joe Weisenthal quoted Paul Krugman as saying: "I think just about everyone doing short-order research — trying to make sense of economic issues in more or less real time — has become a ...