Openness at Current Prices for Honduras
OPENCPHNA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.48
Year-over-Year Change
-12.30%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at Current Prices for Honduras' metric measures the degree of integration between the Honduran economy and the global economy. It is an important indicator for economists and policymakers to assess Honduras' trade relationships 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 in Honduras, divided by the country's gross domestic product (GDP). It provides insight into the openness and trade orientation of the Honduran economy.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Economists and policymakers use this openness metric to evaluate Honduras' economic policies, competitiveness, and integration with global markets.
Key Facts
- Honduras' openness ratio was 83.5% in 2021.
- Openness has increased from 70.1% in 2010, indicating greater trade integration.
- Honduras is a member of the Central American Integration System (SICA).
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Honduras' metric measures the degree of integration between the Honduran economy and the global economy by calculating the ratio of total trade (exports plus imports) to GDP.
Q: Why is this trend relevant for users or analysts?
A: This openness metric is crucial for economists and policymakers to assess Honduras' trade relationships, economic performance, and the degree of integration with global markets.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this openness metric to evaluate Honduras' economic policies, competitiveness, and integration with global markets, which informs trade and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to a year in the most recent figures.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Honduras (OPENCPHNA156NUPN), retrieved from FRED.