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Discover Ludwig"economic importance" is correct and usable in written English.
You can use it to describe the value or importance of something in terms of money, resources, or trade. For example, "The economic importance of this industry to the region is significant."
Exact(58)
Due to the economic importance wine has, disease research on grapevine is very important.
Quartz has great economic importance.
Agnathans are otherwise of little economic importance.
Lead mining was formerly of economic importance.
Shrimp farming is of growing economic importance.
The economic importance of Italy also declined.
Many flies are of great economic importance.
But economic importance does not automatically translate into geopolitical heft.
Also, many dismiss the economic importance of bass fishing.
The economic importance of waterways as communication links is enormous.
Cattle breeding and pig raising are of some economic importance.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com