Economic Development Indices Questions Medium
The Global Enabling Trade Report (GETR) is calculated by the World Economic Forum (WEF) using a comprehensive methodology that assesses the enabling environment for trade in different countries. The report aims to provide a holistic view of a country's trade facilitation policies and infrastructure, as well as its market access conditions.
The calculation of the GETR involves several steps. Firstly, a survey is conducted among business executives and experts to gather their perceptions on various trade-related factors in each country. These factors include market access, border administration, infrastructure, and business environment, among others.
Based on the survey responses, a set of indicators is constructed to measure the different dimensions of trade facilitation. These indicators are then combined using a weighted average approach to calculate the overall score for each country. The weights assigned to each indicator reflect their relative importance in facilitating trade.
Furthermore, the GETR also incorporates objective data from international organizations, such as the World Bank and the World Trade Organization, to complement the survey-based indicators. This objective data provides additional insights into a country's trade performance and infrastructure.
Once the scores are calculated, the countries are ranked based on their overall performance in enabling trade. The report also provides detailed analysis and insights into the strengths and weaknesses of each country's trade facilitation efforts, allowing policymakers and stakeholders to identify areas for improvement.
It is important to note that the GETR is a dynamic index that is updated periodically to reflect changes in trade policies and infrastructure. This ensures that the report remains relevant and up-to-date in assessing the enabling environment for trade across different countries.