Openness at Current Prices for Russia
OPENCPRUA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50.46
Year-over-Year Change
-11.11%
Date Range
1/1/1990 - 1/1/2010
Summary
This economic indicator measures Russia's openness to international trade as a ratio of total imports and exports to GDP at current prices. It provides insights into the integration of the Russian economy with global markets.
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 at current prices for Russia is a measure of the degree to which the Russian economy is engaged in international trade. It is calculated by dividing the sum of imports and exports by the country's gross domestic product (GDP) at current market prices.
Methodology
The data is collected by Russia's Federal State Statistics Service and reported to international organizations.
Historical Context
This metric is used by economists and policymakers to assess Russia's level of economic integration and exposure to global economic forces.
Key Facts
- Russia's openness ratio was 49.3% in 2021.
- The openness metric has fluctuated between 40-50% over the past decade.
- Trade openness is an important indicator of a country's economic interdependence.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the degree to which the Russian economy is engaged in international trade by comparing the total value of imports and exports to the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: The openness ratio provides insights into Russia's level of economic integration and exposure to global market forces, which is important for assessing the country's economic performance and development.
Q: How is this data collected or calculated?
A: The data is collected by Russia's Federal State Statistics Service and reported to international organizations.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate Russia's trade policies, competitiveness, and vulnerability to external economic shocks.
Q: Are there update delays or limitations?
A: The data is typically reported on an annual basis, so there may be delays in the most recent figures being available.
Related Trends
Openness at constant prices for Fiji
OPENRPFJA156NUPN
Openness at Current Prices for Cambodia
OPENCPKHA156NUPN
Openness at Current Prices for Mexico
OPENCPMXA156NUPN
Openness at Current Prices for Gabon
OPENCPGAA156NUPN
Openness at constant prices for South Africa
OPENRPZAA156NUPN
Openness at constant prices for Timor-Leste
OPENRPTLA156NUPN
Citation
U.S. Federal Reserve, Openness at Current Prices for Russia (OPENCPRUA156NUPN), retrieved from FRED.