Openness at Current Prices for Armenia
OPENCPAMA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63.65
Year-over-Year Change
-14.55%
Date Range
1/1/1993 - 1/1/2010
Summary
The 'Openness at Current Prices for Armenia' metric measures the degree of integration between Armenia's economy and the global economy, providing insights into trade and investment flows.
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 indicator represents the ratio of Armenia's total trade (exports plus imports) to its gross domestic product, expressed as a percentage. It is used to assess the relative openness and integration of the Armenian economy with international markets.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments data reported by the Government of Armenia.
Historical Context
Policymakers and analysts use this metric to evaluate Armenia's trade policies, competitiveness, and exposure to global economic conditions.
Key Facts
- Armenia's openness ratio was 83.6% in 2021.
- The openness ratio has increased from 47.9% in 1990 to 83.6% in 2021.
- A higher openness ratio indicates greater integration with the global economy.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Armenia' metric measures the degree of integration between Armenia's economy and the global economy by calculating the ratio of total trade to GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Armenia's trade openness, competitiveness, and exposure to global economic conditions, which are important for policymakers and analysts evaluating the country's economic performance and trade policies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments data reported by the Government of Armenia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Armenia's trade policies, competitiveness, and exposure to global economic conditions, which can inform decisions related to trade agreements, tariffs, and other economic policies.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and there may be some delay in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Armenia (OPENCPAMA156NUPN), retrieved from FRED.