Openness at Current Prices for Belarus
OPENCPBYA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.59
Year-over-Year Change
0.89%
Date Range
1/1/1994 - 1/1/2010
Summary
The 'Openness at Current Prices for Belarus' measures the degree of a country's economic integration with the global economy. It is an important indicator for economists and policymakers to assess a nation's trade dynamics and economic performance.
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 metric represents the sum of exports and imports of goods and services measured at current prices, divided by the country's gross domestic product. It provides insight into Belarus' level of participation in international trade and its economic exposure to global market forces.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments data.
Historical Context
Policymakers use this openness metric to evaluate trade policies and make informed decisions about a country's economic integration strategies.
Key Facts
- Belarus' openness ratio was 112.9% in 2021.
- The openness metric has increased from 75.4% in 2000 to 112.9% in 2021.
- Higher openness indicates greater reliance on international trade for economic growth.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Belarus' measures the degree of Belarus' economic integration with the global economy by calculating the ratio of total exports and imports to its gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This openness metric is crucial for evaluating Belarus' trade dynamics, level of economic integration, and exposure to global market forces, which are key considerations for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments data.
Q: How is this trend used in economic policy?
A: Policymakers use this openness metric to assess a country's trade policies and make informed decisions about its economic integration strategies.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of national accounts and balance of payments information provided by the Belarusian government.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Belarus (OPENCPBYA156NUPN), retrieved from FRED.