Openness at Current Prices for Nicaragua
OPENCPNIA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.97
Year-over-Year Change
59.18%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at Current Prices for Nicaragua' metric measures the degree to which the Nicaraguan economy is integrated with the global economy. It is an important indicator for economists and policymakers to assess trade policies and economic growth.
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 metric calculates the ratio of the sum of exports and imports of goods and services to the country's nominal GDP, expressed as a percentage. It provides insight into how open and trade-dependent the Nicaraguan economy is.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments data.
Historical Context
Openness is a key factor considered by central banks, trade organizations, and international institutions when evaluating a country's economic health and development.
Key Facts
- Nicaragua's openness ratio was 93.5% in 2021.
- Openness has increased from 57.7% in 1980 as Nicaragua has become more globally integrated.
- Higher openness can contribute to economic growth but also exposes the economy to external shocks.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Nicaragua' metric measures the degree to which the Nicaraguan economy is integrated with the global economy through trade.
Q: Why is this trend relevant for users or analysts?
A: Openness is an important indicator for economists and policymakers to assess a country's trade policies, exposure to global markets, and overall economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments data.
Q: How is this trend used in economic policy?
A: Openness is a key factor considered by central banks, trade organizations, and international institutions when evaluating a country's economic health and development.
Q: Are there update delays or limitations?
A: The World Bank publishes the openness data with some delay, typically a year or two behind the current period.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Nicaragua (OPENCPNIA156NUPN), retrieved from FRED.