Openness at Current Prices for Uruguay
OPENCPUYA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50.91
Year-over-Year Change
42.83%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at Current Prices for Uruguay' metric measures the degree of a country's economic integration with the global market. It is an important indicator for economists and policymakers to assess a nation's trade and financial exposure.
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 indicator calculates the ratio of a country's total trade (imports plus exports) to its gross domestic product (GDP) at current prices. It provides insight into the openness and internationalization of an economy.
Methodology
The data is calculated by the World Bank using official national accounts and trade statistics.
Historical Context
Openness is a key consideration for economic and trade policy decisions.
Key Facts
- Uruguay's openness ratio was 51.1% in 2021.
- Openness has increased from 37.3% in 2001.
- Higher openness indicates greater economic integration.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Uruguay' metric measures the degree of Uruguay's economic integration with the global market by calculating the ratio of total trade to GDP.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into a country's trade exposure and economic openness, which are key considerations for economic and trade policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the openness ratio to assess a country's integration with the global economy and make informed decisions regarding trade, investment, and macroeconomic policies.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of national accounts and trade statistics reported by the Uruguayan government.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Uruguay (OPENCPUYA156NUPN), retrieved from FRED.