Openness of an economy

The degree of openness of an economy can be indicated by determining the importance of imports and exports of goods and services in gross domestic product (GDP). This can be measured by taking the value of goods and services exports/imports as a percentage of gross national income (GNI).
Notes:
1. This measure has the effect of qualifying larger countries like the United States as less open because their domestic market is large.
2. The measure percentage of GDP is higher than the contribution to GDP, because exports also require imports. This is particularly true with respect to re-exports.
3. A country with an open economy, as defined above, does not necessarily have an open attitude toward international trade. However, there is a clear connection.

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