Openness at Current Prices for Kiribati
OPENCPKIA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
183.36
Year-over-Year Change
140.75%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at Current Prices for Kiribati' metric measures the degree of economic openness for the Pacific island nation of Kiribati. It is an important indicator for understanding Kiribati's global trade integration and economic interdependence.
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 measure represents the sum of exports and imports of goods and services as a percentage of the country's gross domestic product (GDP). It provides insight into the relative size of Kiribati's international trade compared to the overall size of its domestic economy.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics reported by Kiribati.
Historical Context
Openness metrics help analysts and policymakers assess a country's economic orientation and exposure to global market forces.
Key Facts
- Kiribati is a small Pacific island nation with a population of around 120,000.
- Kiribati's economy is highly dependent on imports, with a trade deficit averaging over 50% of GDP.
- Tourism and the export of fish and agricultural products are Kiribati's main sources of foreign exchange.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Kiribati' metric measures the size of Kiribati's international trade relative to the overall size of its domestic economy.
Q: Why is this trend relevant for users or analysts?
A: The openness measure provides insight into Kiribati's level of economic integration and exposure to global market forces, which is useful for assessing development and trade policies.
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 reported by the government of Kiribati.
Q: How is this trend used in economic policy?
A: Openness metrics help policymakers and analysts evaluate a country's economic orientation and the potential impacts of trade policies or external shocks on the domestic economy.
Q: Are there update delays or limitations?
A: The openness data for Kiribati may have delays of up to two years due to the challenges of data collection in small island developing states.
Related Trends
Openness at Current Prices for Turkey
OPENCPTRA156NUPN
Openness at Current Prices for Argentina
OPENCPARA156NUPN
Openness at Current Prices for Luxembourg
OPENCPLUA156NUPN
Openness at Current Prices for Turkmenistan
OPENCPTMA156NUPN
Openness at Current Prices for Singapore
OPENCPSGA156NUPN
Openness at Current Prices for Canada
OPENCPCAA156NUPN
Citation
U.S. Federal Reserve, Openness at Current Prices for Kiribati (OPENCPKIA156NUPN), retrieved from FRED.