March 2009 - Note on global growth, international trade and South African exports
L Rangasamy and F J Visser
Last Modified Date:
2020-10-01, 09:31 PM
Quarterly Bulletins > Articles and Notes
The term ‘globalisation’ is commonly used to describe the modern world. Globalisation essentially reflects increasing transboundary interactions across social, political and economic spheres. The rise in international trade in goods and services has been one of the defining characteristics of economic globalisation. For example, merchandise trade as a percentage of global gross domestic product has increased from around 42 per cent in 1980 to 62 per cent in 2007.