Openness at Current Prices for Marshall Islands
OPENCPMHA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.90
Year-over-Year Change
0.08%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at Current Prices for Marshall Islands' measure reflects the degree of international trade integration for the Marshall Islands economy. It is an important economic indicator for understanding the country's reliance on imports and exports.
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 openness measure represents the ratio of total trade (imports plus exports) to gross domestic product (GDP) at current market prices for the Marshall Islands. It provides insight into the relative importance of international trade to the domestic economy.
Methodology
The data is calculated by the World Bank using officially reported national accounts and trade statistics.
Historical Context
Economists and policymakers use this metric to assess a country's level of globalization and exposure to international market forces.
Key Facts
- The Marshall Islands' openness ratio was 78.1% in 2020.
- Openness has increased from 58.4% in 2000 to 78.1% in 2020.
- High openness indicates the Marshall Islands' economy is heavily dependent on trade.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Marshall Islands' measures the total value of imports and exports relative to the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the degree of the Marshall Islands' integration with the global economy and dependence on international trade.
Q: How is this data collected or calculated?
A: The World Bank calculates this openness ratio using official national accounts and trade statistics reported by the Marshall Islands government.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the openness ratio to assess the Marshall Islands' exposure to external economic shocks and guide policies related to trade, tariffs, and exchange rates.
Q: Are there update delays or limitations?
A: There may be delays in reporting national accounts and trade data, leading to lags in the availability of the openness ratio.
Related Trends
Openness at Current Prices for Ethiopia
OPENCPETA156NUPN
Openness at constant prices for United Kingdom
OPENRPGBA156NUPN
Openness at constant prices for Maldives
OPENRPMVA156NUPN
Openness at Current Prices for Lesotho
OPENCPLSA156NUPN
Openness at Current Prices for Senegal
OPENCPSNA156NUPN
Openness at Current Prices for St. Kitts and Nevis
OPENCPKNA156NUPN
Citation
U.S. Federal Reserve, Openness at Current Prices for Marshall Islands (OPENCPMHA156NUPN), retrieved from FRED.