The quarterly report on China’s economical growth was a hot topic in the media Monday. The world and especially emerging markets, are significantly impacted by the Chinese economy. The big question is: how much does China depends on the rest of the world?

The total value of export to country’s GDP is a simple indicator, sometimes used to show a maturity level of an economy. For small, open and developed nations, like Belgium and the Netherlands, this indicator has a high value (more than 80%). Huge economies with big domestic markets are not based on export, with the exception of Germany (about 45% of GDP is generated by export).

China’s economy, being under restructuring phase, is also less dependent on export than many might think. The tendency is that the export as ratio of GDP is decreasing. The latest Chinese report on GDP growth in third quarter, shows a diminishing value of export. (see chart 2).