Openness at Current Prices for United Arab Emirates
OPENCPAEA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143.50
Year-over-Year Change
-3.77%
Date Range
1/1/1986 - 1/1/2010
Summary
The 'Openness at Current Prices for United Arab Emirates' metric measures the degree of economic integration between the UAE and the global economy. It is a key indicator for economists and policymakers to assess the UAE's international trade performance and exposure to global market forces.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic openness indicator represents the sum of exports and imports of goods and services as a percentage of the UAE's gross domestic product (GDP). It provides insights into the UAE's trade orientation and the extent to which its economy is connected to international markets.
Methodology
The data is calculated by the World Bank using official national accounts and balance of payments statistics.
Historical Context
Openness is widely used to evaluate a country's integration with the global economy and can inform trade, fiscal, and monetary policies.
Key Facts
- The UAE's openness ratio was over 150% in 2021, indicating a highly trade-dependent economy.
- Openness has increased significantly in the UAE over the past two decades, reflecting its transition to a global trade and investment hub.
- High openness can make the UAE's economy more vulnerable to external shocks, such as fluctuations in global demand or commodity prices.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for United Arab Emirates' metric measures the sum of the UAE's exports and imports of goods and services as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This openness indicator provides insights into the UAE's degree of integration with the global economy, which is crucial for evaluating its trade performance, exposure to external shocks, and informing relevant economic policies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Openness is widely used by policymakers and economists to assess a country's trade orientation and integration with the global economy, which can inform trade, fiscal, and monetary policies.
Q: Are there update delays or limitations?
A: The openness data may be subject to reporting lags, and the accuracy can be influenced by the reliability of underlying national accounts and trade statistics.
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Citation
U.S. Federal Reserve, Openness at Current Prices for United Arab Emirates (OPENCPAEA156NUPN), retrieved from FRED.