Openness at Current Prices for Botswana
OPENCPBWA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86.12
Year-over-Year Change
-14.73%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at Current Prices for Botswana' economic indicator measures the degree of international trade integration in the Botswana economy. It is an important metric for evaluating the country's economic openness and exposure to global market forces.
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 trend represents the sum of exports and imports of goods and services as a percentage of Botswana's gross domestic product (GDP). It provides insight into the relative importance of international trade to the overall economy.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments data.
Historical Context
Economists and policymakers use this metric to assess Botswana's level of economic globalization and dependence on foreign trade.
Key Facts
- Botswana's openness ratio averaged around 90% of GDP from 2000 to 2020.
- The country's openness increased significantly after the 1990s as it liberalized its economy.
- Diamonds and other mineral exports are a major driver of Botswana's high trade openness.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the degree of international trade integration in the Botswana economy by calculating the sum of exports and imports as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: The openness ratio is an important metric for evaluating Botswana's economic globalization and exposure to international market forces, which is crucial for policymakers and analysts assessing the country's economic performance and development.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments information.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess Botswana's level of economic globalization and dependence on foreign trade, which informs policy decisions related to trade, investment, and economic diversification.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a 1-2 year lag in the most recent information available.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Botswana (OPENCPBWA156NUPN), retrieved from FRED.