29.1

30.7

30.0

30.1

31.7

31.5

France

26.0

27.8

28.1

28.3

29.0

30.0

Middle Income Countries

Brazil

10.9

11.9

12.6

12.6

11.2

13.0

Mexico

29.9

31.2

32.6

31.7

32.3

35.3

South Korea

49.4

55.7

56.3

53.9

50.3

45.9

Lower Income Countries

Chad

China

India

36.8

38.9

36.9

32.2

34.2

29.8

29.4

28.5

27.3

26.4

23.9

22.4

22.0

23.9

24.0

24.8

22.9

Nigeria

25.3

31.3

31.4

18.0

18.4

TABLE 1.2 The Extent of Globalization (exports/GDP)

(Source: http://databank.worldbank.org/data/)

-

-

In recent decades, the export/GDP ratio has generally risen, both worldwide and for the U.S. economy.

Interestingly, the share of U.S. exports in proportion to the U.S. economy is well below the global average, in

part because large economies like the United States can contain more of the division of labor inside their
national borders. However, smaller economies like Belgium, Korea, and Canada need to trade across their
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