Openness at Current Prices for Fiji
OPENCPFJA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.45
Year-over-Year Change
-6.39%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at Current Prices for Fiji' economic indicator measures the ratio of a country's total trade (exports plus imports) to its gross domestic product (GDP) at current market prices. This metric provides insights into the degree of a country's economic integration and participation in global trade.
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
The openness indicator is a widely used measure of a country's economic openness and integration with the global economy. It quantifies the importance of international trade relative to the overall size of the domestic economy. Economists and policymakers analyze this metric to understand a country's trade orientation and exposure to external economic conditions.
Methodology
The data is calculated by the Fiji Bureau of Statistics as the sum of exports and imports divided by GDP, all measured in current market prices.
Historical Context
Openness is a key factor considered by investors, analysts, and policymakers when evaluating a country's economic performance and potential.
Key Facts
- Fiji's openness ratio was 98.7% in 2021.
- Openness has increased from 72.7% in 2000 to 98.7% in 2021.
- Fiji is considered a highly open economy due to its reliance on international trade.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Fiji' indicator measures the ratio of Fiji's total trade (exports plus imports) to its gross domestic product (GDP) at current market prices.
Q: Why is this trend relevant for users or analysts?
A: The openness indicator provides insights into Fiji's economic integration and participation in global trade, which is a key factor considered by investors, analysts, and policymakers when evaluating the country's economic performance and potential.
Q: How is this data collected or calculated?
A: The data is calculated by the Fiji Bureau of Statistics as the sum of exports and imports divided by GDP, all measured in current market prices.
Q: How is this trend used in economic policy?
A: Openness is a crucial metric used by economists and policymakers to understand a country's trade orientation and exposure to external economic conditions, which informs policy decisions related to trade, investment, and macroeconomic management.
Q: Are there update delays or limitations?
A: The data is published by the Fiji Bureau of Statistics, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Fiji (OPENCPFJA156NUPN), retrieved from FRED.