Openness at Current Prices for Chad
OPENCPTDA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74.18
Year-over-Year Change
30.24%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at Current Prices for Chad' metric measures the degree of a country's economic integration with the global market. It is an important indicator for economists and policymakers in understanding a nation's trade dynamics and economic development.
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 represents the ratio of a country's total trade (exports plus imports) to its gross domestic product (GDP) at current market prices. It provides insight into the openness and exposure of an economy to international trade and investment.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
This metric is widely used by analysts, policymakers, and international institutions to assess a country's economic policies, competitiveness, and integration within the global economy.
Key Facts
- Chad's trade openness ratio was 47.7% in 2020.
- Trade openness is associated with greater economic growth and productivity.
- Highly open economies are more vulnerable to external shocks.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Chad' metric measures the ratio of Chad's total trade (exports plus imports) to its gross domestic product (GDP) at current market prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Chad's level of economic integration with the global market, which is important for understanding the country's trade dynamics, competitiveness, and vulnerability to external shocks.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers and international institutions use this metric to assess a country's economic policies, competitiveness, and integration within the global economy, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of national accounts and balance of payments statistics, which may result in occasional update delays or limitations in data coverage.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Chad (OPENCPTDA156NUPN), retrieved from FRED.