Openness at Current Prices for Sri Lanka
OPENCPLKA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.71
Year-over-Year Change
-31.06%
Date Range
1/1/1950 - 1/1/2010
Summary
The Openness at Current Prices for Sri Lanka measures the ratio of exports and imports to the country's gross domestic product (GDP), providing insight into the level of economic integration and trade dependency.
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 indicator reflects the extent to which the Sri Lankan economy is open to international trade. It is a useful metric for economists and policymakers to assess the degree of globalization and understand how external factors may impact the domestic economy.
Methodology
The data is calculated by the World Bank using official national accounts and balance of payments statistics.
Historical Context
Openness is an important consideration in macroeconomic policy as it shapes a country's exposure to global economic conditions and influences factors like exchange rates and inflation.
Key Facts
- Sri Lanka's openness ratio averaged 49.2% from 2010-2020.
- A higher openness ratio indicates greater economic integration with global markets.
- Openness can affect a country's vulnerability to external shocks and exchange rate fluctuations.
FAQs
Q: What does this economic trend measure?
A: The Openness at Current Prices for Sri Lanka measures the ratio of the country's total exports and imports to its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the degree of Sri Lanka's economic integration and trade dependency, which is relevant for macroeconomic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers use the openness ratio to assess a country's exposure to global economic conditions and inform policies related to trade, exchange rates, and macroeconomic stability.
Q: Are there update delays or limitations?
A: The data may have a time lag of 1-2 years due to the process of collecting and compiling national accounts information.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Sri Lanka (OPENCPLKA156NUPN), retrieved from FRED.