Openness at Current Prices for Burundi
OPENCPBIA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.14
Year-over-Year Change
58.58%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at Current Prices for Burundi' series measures the ratio of a country's total trade (exports plus imports) to its gross domestic product (GDP) at current prices. This metric provides insight into a country's economic integration and reliance on international trade.
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 ratio is a widely used indicator of a country's economic openness and integration with the global economy. It reflects the degree to which a nation's economic activity depends on trade with other countries, which is an important consideration for policymakers and analysts.
Methodology
The data is calculated by the World Bank using official statistics on imports, exports, and GDP.
Historical Context
Tracking openness trends can inform assessments of a country's economic health, trade policies, and overall competitiveness.
Key Facts
- Burundi's openness ratio was 34.2% in 2020.
- The openness ratio has increased from 21.5% in 1960.
- Burundi is classified as a low-income country by the World Bank.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Burundi' series measures the ratio of a country's total trade (exports plus imports) to its gross domestic product (GDP) at current prices.
Q: Why is this trend relevant for users or analysts?
A: The openness ratio is a widely used indicator of a country's economic openness and integration with the global economy, which is an important consideration for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official statistics on imports, exports, and GDP.
Q: How is this trend used in economic policy?
A: Tracking openness trends can inform assessments of a country's economic health, trade policies, and overall competitiveness.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of official trade and GDP statistics from the country.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Burundi (OPENCPBIA156NUPN), retrieved from FRED.