What trade relative to GDP shows across six Southern African economies

Why the figure can pass 100%

Exports and imports are gross transaction flows, while GDP counts value added in the domestic economy. Both trade flows go into the numerator. An economy that imports inputs and exports finished goods can record large transactions on both sides of the border relative to its own output. Source 1

Mozambique’s ratio moved by nearly 40 points

The reported ratio for Mozambique fell from 135.27% in 2022 to 95.63% in 2024. Both the trade flows and GDP can change this ratio, so the figure alone cannot show how much export volume or import volume changed. Source 1

Botswana’s ratio fell while Namibia’s rose

Botswana’s trade ratio fell from 91.05% in 2021 to 69.45% in 2024. Namibia’s increased from 83.54% to 108.00% over the same period. Those different paths are visible when the comparison spans several years. Source 1

A ratio answers a different question from a trade balance

Exports minus imports gives the trade balance. Exports plus imports, scaled to GDP, describes the size of trading activity relative to domestic output. This indicator includes global partners and services. Bilateral merchandise data are needed to isolate trade with another country. Source 1

Sources

• World Bank national accounts trade series via WDI
• World Bank data API, selected countries and years