Openness at Current Prices for Laos
OPENCPLAA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63.42
Year-over-Year Change
-24.74%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures the openness of the Laotian economy by calculating the ratio of imports and exports to Laos' gross domestic product (GDP) at current prices.
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 of an economy is an important measure of its level of global integration and engagement. This metric provides insights into Laos' participation in international trade and the degree to which its economic performance is influenced by external factors.
Methodology
The data is calculated by the World Bank using official government sources.
Historical Context
Policymakers and analysts use this indicator to assess Laos' economic policies and development strategies.
Key Facts
- Laos' openness ratio averaged 76% from 2010 to 2020.
- Openness peaked at 88% in 2013 before declining in recent years.
- Landlocked countries like Laos tend to have higher trade openness ratios.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the openness of the Laotian economy by calculating the ratio of imports and exports to Laos' gross domestic product (GDP) at current prices.
Q: Why is this trend relevant for users or analysts?
A: The openness of an economy is an important measure of its level of global integration and engagement, providing insights into Laos' participation in international trade and the degree to which its economic performance is influenced by external factors.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official government sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess Laos' economic policies and development strategies, particularly in relation to the country's participation in global trade and exposure to external economic conditions.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of government reporting, which may result in occasional delays or gaps in the historical series.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Laos (OPENCPLAA156NUPN), retrieved from FRED.