Openness at Current Prices for St. Lucia
OPENCPLCA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.15
Year-over-Year Change
-7.98%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at Current Prices for St. Lucia' series measures the degree to which the St. Lucian economy is integrated with global trade flows. It is an important indicator for economists and policymakers analyzing economic openness and competitiveness.
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 series represents the sum of exports and imports of goods and services, divided by the gross domestic product (GDP) of St. Lucia. It provides insight into the overall trade orientation and exposure of the St. Lucian economy to international markets.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Openness metrics are widely used to assess economic policy, trade agreements, and a country's integration with the global economy.
Key Facts
- St. Lucia's openness ratio averaged 112% from 2010-2020.
- Trade has historically accounted for over 100% of St. Lucia's GDP.
- St. Lucia is considered a highly open, trade-dependent economy.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for St. Lucia' series measures the degree to which the St. Lucian economy is integrated with global trade flows, calculated as the sum of exports and imports divided by GDP.
Q: Why is this trend relevant for users or analysts?
A: Openness metrics are important for economists and policymakers to assess a country's trade orientation, global competitiveness, and exposure to international market forces.
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: Openness measures are widely used to evaluate economic policy, trade agreements, and a country's integration with the global economy.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a lag of approximately one year.
Related Trends
Openness at Current Prices for Guinea-Bissau
OPENCPGWA156NUPN
Openness at Current Prices for Canada
OPENCPCAA156NUPN
Openness at constant prices for Cote d`Ivoire
OPENRPCIA156NUPN
Openness at Current Prices for Tonga
OPENCPTOA156NUPN
Openness at Current Prices for Hong Kong SAR
OPENCPHKA156NUPN
Openness at Current Prices for Colombia
OPENCPCOA156NUPN
Citation
U.S. Federal Reserve, Openness at Current Prices for St. Lucia (OPENCPLCA156NUPN), retrieved from FRED.