The following chart shows the exports of goods as a percentage of GDP for a select few countries:

Click to enlarge

Source: Guide to the Markets, 1Q 2012, J.P. Morgan Asset Management

A few observations:

• The majority of the goods produced in Canada are exported to the U.S.
• Exports of goods account for about 37% of the Germany’s GDP and about 21% of the goods are exported to Eurozone countries.
• Among the developed countries shown, the exports of goods as a percentage of GDP is the lowest for the U.S.