Trade as percent of GDP is a variable that has grown since the foundation of WTO in 1994, the
worldwide trade growth was and still is a goal of the WTO. In the following chart is show all the
possibilities of trade as percent of GDP, the data goes from a minimum of 25% to a maximum of 455%.
Almost all the possibilities are taken from 25% to 150% then there are 3 outliers which are Macao,
Singapore, and Hong Kong. Trade as Percent of GDP can be higher that 100% since it is
(Import+Exports)/GDP and GDP is a sum of Consumption, Income, Government Spending, Exports Less
Imports. What happens in small countries with high productivity like Hong Kong and Singapore is that
due to their small size, instead of trying to be self-sufficient and produce all the products their population
needs, they specialize in a few highly-profitable industries. These industries may produce more money
from exports than the entire domestic economy. All that money from exports allows them to purchase
imports far into excess of what their domestic economy could otherwise support. All the data referring to
Trade as percent of GDP is taken from World Bank Database and are related to 2014.