Openness at Current Prices for Bolivia
OPENCPBOA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.51
Year-over-Year Change
44.43%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at Current Prices for Bolivia' metric measures the degree to which the Bolivian economy is integrated with global trade. It is an important indicator for economists and policymakers to assess the country's economic performance and trade policies.
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
Openness at current prices is calculated as the sum of exports and imports of goods and services expressed as a percentage of gross domestic product (GDP). This metric provides insight into a country's level of international economic integration and exposure to global markets.
Methodology
The data is collected and calculated by the World Bank based on national accounts and balance of payments statistics.
Historical Context
Openness metrics are widely used by economists, analysts, and policymakers to evaluate a country's trade orientation and openness to the global economy.
Key Facts
- Bolivia's openness ratio was 58.4% in 2021.
- Openness has increased from 31.9% in 1960 to 58.4% in 2021.
- Bolivia's economy is considered moderately open compared to other Latin American countries.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Bolivia' metric measures the degree to which the Bolivian economy is integrated with global trade by calculating the sum of exports and imports as a percentage of GDP.
Q: Why is this trend relevant for users or analysts?
A: This openness metric provides important insights into Bolivia's level of international economic integration and exposure to global markets, which is relevant for economists, policymakers, and analysts evaluating the country's trade orientation and economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Openness metrics are widely used by economists, analysts, and policymakers to evaluate a country's trade orientation and openness to the global economy, which informs policy decisions related to trade, economic integration, and competitiveness.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Bolivia (OPENCPBOA156NUPN), retrieved from FRED.