Question

Discuss international trade and globalisation.

Answer 1

For an individual country, trade globalization is measured as the proportion of that country's total volume of trade to its Gross Domestic Product (GDP)

(Imports+Exports) / GDP

For the world as a whole, trade globalization is the share of total world trade in total world production (GDP), where the sums are taken over all countries

sum of Exports / sum of GDP