A relative measure of the importance of trade is

Question

Quizplus · Accepted Answer

Trade as a percentage of GDP is a better measure as it indicates the relative importance of trade to the overall economy. A high percentage of trade to GDP implies that the economy is heavily dependent on international trade, whereas a low percentage implies that the economy is less reliant on trade for its growth and development. This measure accounts for the size of the economy and provides a more accurate measure of the impact of trade on a country's economic performance.

A Relative Measure of the Importance of Trade Is