Question

Assume that Georgia has exports of $ 50 billion, imports of $45 billion, and GDP of $200 billion. What is Georgia's level of trade

Answer 1

Answer: 25%

Explanation:

Level of trade is simply calculated as the percentage of export of a particular country to its share of the gross domestic product.

Based on the scenario given in the question, the level of trade will be:

= (Exports / GDP) × 100

= 50/200 × 100.

= 1/4 × 100

= 25%