Openness at Current Prices for Bangladesh
OPENCPBDA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.64
Year-over-Year Change
37.08%
Date Range
1/1/1959 - 1/1/2010
Summary
The Openness at Current Prices for Bangladesh is an economic indicator that measures the degree of a country's international trade and economic integration. It is an important metric for economists and policymakers to assess a nation's engagement with the global economy.
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
The Openness at Current Prices is calculated as the sum of a country's exports and imports of goods and services, divided by its gross domestic product (GDP). This ratio provides insight into the relative size of a country's foreign trade sector compared to its overall domestic economic activity.
Methodology
The data is collected and calculated by the World Bank using official national accounts and trade statistics.
Historical Context
Openness is a key factor in evaluating a country's economic policies, competitiveness, and growth potential.
Key Facts
- Bangladesh's Openness at Current Prices was 33.4% in 2020.
- Openness has increased from 25.6% in 2000 to 33.4% in 2020.
- Higher openness is associated with greater economic growth and development.
FAQs
Q: What does this economic trend measure?
A: The Openness at Current Prices for Bangladesh measures the size of the country's foreign trade sector relative to its overall domestic economic activity.
Q: Why is this trend relevant for users or analysts?
A: Openness is an important indicator of a country's economic integration and competitiveness in the global marketplace, which is relevant for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using official national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Openness is used by economists and policymakers to assess a country's trade policies, competitiveness, and growth potential, and to inform decisions on economic integration and international trade agreements.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a typical update delay of 1-2 years.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Bangladesh (OPENCPBDA156NUPN), retrieved from FRED.