Openness at Current Prices for United States
OPENCPUSA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.05
Year-over-Year Change
22.68%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at Current Prices for United States' measures the degree of international trade integration in the U.S. economy. It is an important economic indicator for understanding globalization trends and international competitiveness.
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 sum of exports and imports as a percentage of gross domestic product (GDP). It reflects the overall importance of foreign trade to the domestic economy, providing insight into a country's level of economic openness and integration with global markets.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national accounts statistics.
Historical Context
This openness ratio is widely used by policymakers, economists, and businesses to analyze trade patterns, monitor globalization, and inform policy decisions.
Key Facts
- The U.S. openness ratio reached a high of 29.1% in 2021.
- Trade openness has increased significantly since the 1970s as global supply chains have expanded.
- Economies with higher openness ratios tend to experience faster economic growth but also greater exposure to external shocks.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for United States' measures the sum of exports and imports as a percentage of the country's gross domestic product, reflecting the overall degree of international trade integration in the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: This openness ratio provides important insights into the U.S. economy's level of globalization and exposure to international trade. It is widely used by policymakers, economists, and businesses to analyze trade patterns, monitor changes in competitiveness, and inform economic policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national accounts statistics on exports, imports, and GDP.
Q: How is this trend used in economic policy?
A: The openness ratio is a key indicator used by policymakers and economists to assess the degree of a country's integration with the global economy. It informs decisions on trade policies, exchange rate management, and other measures that can impact a nation's international competitiveness and exposure to external economic shocks.
Q: Are there update delays or limitations?
A: The openness data is typically published on a quarterly basis with a short lag, providing timely insights into trade integration trends. However, the metric may not fully capture all aspects of globalization, such as digital trade or global value chain linkages.
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Citation
U.S. Federal Reserve, Openness at Current Prices for United States (OPENCPUSA156NUPN), retrieved from FRED.