Openness at Current Prices for Bahamas
OPENCPBSA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.26
Year-over-Year Change
7.47%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at Current Prices for Bahamas' metric measures the degree of economic openness in the Bahamas, providing insights into the country's trade and investment dynamics.
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 indicator represents the sum of exports and imports of goods and services in the Bahamas, expressed as a percentage of the country's gross domestic product (GDP). It serves as a barometer for the Bahamian economy's integration with global markets and trade flows.
Methodology
The data is collected and calculated by the World Bank based on national accounts and balance of payments statistics.
Historical Context
Policymakers and analysts use this metric to gauge the Bahamas' economic exposure and potential vulnerabilities to external shocks.
Key Facts
- The Bahamas' openness ratio has remained above 100% since the 1980s.
- Tourism and financial services are major contributors to the Bahamian economy's openness.
- Economic openness is a key factor in the Bahamas' vulnerability to global economic conditions.
FAQs
Q: What does this economic trend measure?
A: This metric measures the degree of economic openness in the Bahamas by calculating the ratio of the sum of exports and imports to the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: The openness ratio provides insights into the Bahamian economy's integration with global trade and investment flows, which is crucial for assessing its vulnerability to external shocks.
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: Policymakers and analysts use this metric to gauge the Bahamas' economic exposure and formulate appropriate policies to manage trade-related risks and opportunities.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some delays in publishing the latest figures.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Bahamas (OPENCPBSA156NUPN), retrieved from FRED.