what percent is it increasing by each year?

To determine the percentage increase in the value of goods traded each year, we can use the growth factor calculated from the data. The growth factor can be derived by taking the ratio of consecutive years' values. From our previous analysis, we have identified the approximate growth factor as 1.5. 

To find the annual percentage increase, we use the following formula:

\[ \text{Annual percentage increase} = (\text{Growth factor} - 1) \times 100\% \]

Let's calculate it:

\[ \text{Growth factor} = 1.5 \]
\[ \text{Annual percentage increase} = (1.5 - 1) \times 100\% = 0.5 \times 100\% = 50\% \]

So, the value of goods traded is increasing by approximately 50% each year.

Do you want details or have any questions?

Here are 5 more questions you might want to explore:
1. How can we model this exponential growth mathematically?
2. What would the value of goods traded be in 2000 if this growth rate continues?
3. How does this percentage increase compare to typical economic growth rates?
4. What factors could contribute to such a high annual increase in trade value?
5. Can we predict when the trade value will double from the 1999 value at this growth rate?

**Tip:** When calculating percentage increases, ensure you understand whether you are dealing with linear or exponential growth, as the methods for calculating the rate differ significantly.

Learn how to calculate the annual percentage increase using exponential growth concepts. This problem explores the formula (Growth factor - 1) * 100% to determine the percentage increase in value of goods traded each year, with an example showing an approximate increase of 50%. Suitable for students in Grades 10-12.

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