How much does Myanmar’s economy rely on external trade?
Trade openness
The trade-to-GDP ratio is frequently used to measure the importance of international transactions relative to domestic transactions. This indicator is calculated for each country as the simple average (i.e., the mean) of total trade (i.e., the sum of exports and imports of goods and services) relative to GDP. This ratio is often called the trade openness ratio.
Trade openness level of Myanmar
Myanmar’s main trade partners have been Thailand and China, but that could change as the economy is open to the world. Its trade openness level is now the lowest in ASEAN, but this too could change soon with the opening of the economy.
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