Openness at Current Prices for Eritrea
OPENCPERA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.34
Year-over-Year Change
-73.30%
Date Range
1/1/1992 - 1/1/2010
Summary
The 'Openness at Current Prices for Eritrea' metric measures the sum of exports and imports of goods and services in Eritrea as a percentage of its gross domestic product (GDP). This indicator provides insight into the level of economic integration and trade dependence of the Eritrean economy.
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 a macroeconomic indicator that quantifies the degree to which a country's economy is open to international trade. It is calculated as the total value of imports and exports divided by the country's GDP, expressed as a percentage. This metric is widely used by economists and policymakers to assess a country's participation in the global economy and its exposure to external economic conditions.
Methodology
The data is collected and calculated by the World Bank based on official government statistics.
Historical Context
Openness is a key factor considered by investors, analysts, and policymakers when evaluating a country's economic policies and growth potential.
Key Facts
- Eritrea's openness ratio was 24.2% in 2020.
- Openness has fluctuated between 20-30% of GDP in Eritrea over the past decade.
- Openness is a key indicator of a country's economic integration and reliance on foreign markets.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Eritrea' metric measures the sum of exports and imports of goods and services in Eritrea as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: Openness is a key indicator of a country's economic integration and reliance on foreign markets, providing insight into its exposure to external economic conditions and growth potential.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on official government statistics.
Q: How is this trend used in economic policy?
A: Openness is a key factor considered by investors, analysts, and policymakers when evaluating a country's economic policies and growth potential.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank and may be subject to revisions based on updated government reporting.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Eritrea (OPENCPERA156NUPN), retrieved from FRED.