Openness at Current Prices for Rwanda
OPENCPRWA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.43
Year-over-Year Change
65.21%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at Current Prices for Rwanda' measures the degree of openness of the Rwandan economy, calculated as the sum of exports and imports divided by the country's GDP.
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 economic indicator provides insight into the level of integration and interdependence of the Rwandan economy with global trade. It is a key metric used by policymakers and analysts to assess the country's trade orientation and exposure to external economic forces.
Methodology
The data is calculated by the World Bank using official government sources.
Historical Context
Openness is an important factor in evaluating economic growth, development strategies, and policy options.
Key Facts
- Rwanda's openness ratio averaged 51% between 2000-2020.
- Trade openness increased from 39% in 2000 to 59% in 2020.
- Higher openness is linked to faster economic growth in Rwanda.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Rwanda' measures the sum of a country's exports and imports as a percentage of its GDP, providing insight into the level of trade integration and interdependence.
Q: Why is this trend relevant for users or analysts?
A: This indicator is widely used by policymakers, economists, and investors to assess a country's exposure to global trade and the potential impact of external economic forces on its domestic economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official government sources on exports, imports, and GDP.
Q: How is this trend used in economic policy?
A: Openness is a key factor in evaluating a country's development strategies, trade policies, and integration with the global economy. It helps inform decisions on trade agreements, tariffs, and other policy tools.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of 1-2 years, so the most recent values may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Rwanda (OPENCPRWA156NUPN), retrieved from FRED.