Wednesday, September 5, 2007
A Small Open Economy
Slovakia was the 11th most trade-open economy in the world according World Bank's 2005 available data, with exports and imports valued together at 161.7% of the country's GDP. Only Hong Kong, Malaysia and Belgium were both more populous and more economically open. Other more open countries included mini-states such as Luxembourg, Seychelles or Guyana. According to the most recent numbers (1st half of 2007), the country's exports amounted to 89.0% of GDP, imports 89.6% of GDP. The total trade openness was thus 178.6% of GDP.