Figure 4
The horizontal axis is marked with years and ranges from 1988 to 2020 in increments of 2 years. The vertical axis is marked with percentage values 1, 1.5, 3, 5, 10, 15, 30, and 50. The graph shows four lines labeled “Trade (percent of G D P)”, “percent of G D P”, “World Tariff Rate”, and “F D I”. The “Trade (percent of G D P)” line begins above 30 percent in 1988, shows a gradual upward trend with fluctuations, peaks above 50 percent around 2008, and ends slightly below that level in 2020. The “percent of G D P” dotted line begins near 18 percent, increases gradually with minor variations, peaks near 30 percent around 2008, and ends slightly below 30 percent by 2020. The “World Tariff Rate” line begins slightly below 5 percent in 1988, rises with fluctuations to a peak near 10 percent around 1994, declines steadily, and ends near 3 percent in 2020. The “F D I” line begins below 1 percent in 1988, rises steadily with fluctuations to reach a peak near 5 percent around 2008, declines sharply afterward, rises again to a secondary peak around 2007, then continues downward with fluctuations and ends below 3 percent in 2020. Note: All numerical data values are approximated.Reflection of global tariff rate on trade. Sources: Created by authors; Data source: OECD trade and tariff statistics, 2024