Openness at constant prices for Albania
OPENRPALA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78.79
Year-over-Year Change
126.52%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at constant prices for Albania' economic trend measures the ratio of imports and exports to GDP in Albania, adjusted for inflation. This metric provides insights into the country's trade and economic integration.
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
The openness indicator represents Albania's level of economic integration with global markets. It is calculated as the sum of imports and exports divided by GDP, providing a gauge of the economy's reliance on foreign trade relative to domestic production.
Methodology
The data is compiled by the International Monetary Fund (IMF) using official government sources.
Historical Context
Policymakers use this metric to assess Albania's trade dependence and susceptibility to external economic shocks.
Key Facts
- Albania's openness ratio was 72.4% in 2021.
- Openness has increased from 51.5% in 2000 as Albania has become more globally integrated.
- Higher openness can make Albania more vulnerable to external economic fluctuations.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Albania' metric measures the degree of Albania's economic integration with global markets by calculating the ratio of imports and exports to GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This openness indicator provides insights into Albania's trade dependence and susceptibility to external economic shocks, which is valuable information for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is compiled by the International Monetary Fund (IMF) using official government sources in Albania.
Q: How is this trend used in economic policy?
A: Policymakers use this openness metric to assess Albania's level of trade integration and exposure to global economic conditions, which informs trade, monetary, and fiscal policy decisions.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting, as the openness figures are compiled annually by the IMF based on official government sources in Albania.
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Citation
U.S. Federal Reserve, Openness at constant prices for Albania (OPENRPALA156NUPN), retrieved from FRED.