A few large economies remain relatively closed

Trade openness measures exports plus imports as a share of GDP — how large a country's cross-border flows are relative to its domestic economy. Before 1800 the global index never exceeded 10%; two waves of globalization have since pushed the sum of world exports and imports above 50% of global output.

Size matters: trade is much smaller relative to the domestic economy in the United States than in almost all European countries, partly because so much European trade takes place within the EU. For the large economies that stay relatively closed, geography, policy, and sanctions keep cross-border flows modest.

In this 2026 edition's split of world trade openness, Asia & Pacific accounts for 44.2%, Africa 23.8%, and the Americas 17% — leaving 15% for the relatively closed large economies in the spotlight. Figures come from the World Bank via Our World in Data.

Exports plus imports relative to GDP (World Bank via OWID).