One way to measure the importance of trade to a nation is to examine the volume of trade in an economy relative to its total output.

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The ratio of trade to total output, also known as the trade-to-GDP ratio, is a commonly used indicator for measuring the importance of trade to an economy. High ratios indicate that trade plays a significant role in a country's economic activity, while low ratios suggest that other factors, such as domestic consumption and investment, are more important drivers of economic growth.

One Way to Measure the Importance of Trade to a Nation