Openness at Current Prices for Central African Republic
OPENCPCFA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.76
Year-over-Year Change
-35.83%
Date Range
1/1/1960 - 1/1/2010
Summary
The Openness at Current Prices for Central African Republic measures the combined value of imports and exports relative to the country's GDP, providing insight into the degree of its economic integration with global markets.
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 economic indicator reflects the extent to which the Central African Republic participates in international trade. It is a useful metric for analyzing the country's economic orientation, competitiveness, and susceptibility to external shocks.
Methodology
The data is calculated by the World Bank as the sum of exports and imports of goods and services measured at current prices, divided by the country's GDP.
Historical Context
Policymakers and analysts monitor this openness ratio to assess the Central African Republic's trade and investment climate, as well as its overall economic performance and integration with the global economy.
Key Facts
- Openness ratio for Central African Republic was 33.7% in 2020.
- This indicator has fluctuated between 25-45% over the past decade.
- Central African Republic is one of the least economically open countries in the world.
FAQs
Q: What does this economic trend measure?
A: The Openness at Current Prices for Central African Republic measures the combined value of the country's imports and exports as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This openness ratio provides insight into the degree of Central African Republic's economic integration with global markets, which is important for assessing the country's trade position, competitiveness, and vulnerability to external shocks.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank as the sum of exports and imports of goods and services measured at current prices, divided by the country's GDP.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor the Central African Republic's openness ratio to evaluate the country's trade and investment climate, as well as its overall economic performance and integration with the global economy.
Q: Are there update delays or limitations?
A: The openness data for Central African Republic 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 Central African Republic (OPENCPCFA156NUPN), retrieved from FRED.