Openness at Current Prices for Yemen
OPENCPYEA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.65
Year-over-Year Change
-24.30%
Date Range
1/1/1989 - 1/1/2010
Summary
The 'Openness at Current Prices for Yemen' metric measures the combined value of imports and exports as a percentage of Yemen's gross domestic product (GDP), providing insight into the country's economic integration and trade dependence.
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 offers a snapshot of Yemen's economic openness, reflecting the relative importance of international trade to its overall economic activity. It is a commonly used measure to analyze a country's degree of integration with the global economy.
Methodology
The data is calculated by the United Nations as the sum of exports and imports of goods and services measured at current prices, divided by the country's GDP.
Historical Context
Policymakers and analysts monitor Yemen's openness metric to understand its trade exposure and potential vulnerabilities to external economic shocks.
Key Facts
- Yemen's openness ratio averaged 56.4% from 1970 to 2021.
- The metric reached a peak of 81.1% in 1980 and a low of 33.1% in 2015.
- Trade as a share of GDP is a key indicator of a country's economic orientation.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Yemen' metric measures the combined value of imports and exports as a percentage of Yemen's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator offers insights into Yemen's economic integration and trade dependence, which is crucial for understanding its exposure to external economic shocks and its overall development strategy.
Q: How is this data collected or calculated?
A: The data is calculated by the United Nations as the sum of exports and imports of goods and services measured at current prices, divided by the country's GDP.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor Yemen's openness metric to understand its trade exposure and potential vulnerabilities, which informs economic policy decisions and strategies.
Q: Are there update delays or limitations?
A: The data may be subject to periodic revisions and can have variable update frequencies, depending on the source.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Yemen (OPENCPYEA156NUPN), retrieved from FRED.