Openness at constant prices for Azerbaijan
OPENRPAZA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.12
Year-over-Year Change
147.34%
Date Range
1/1/1993 - 1/1/2010
Summary
The 'Openness at constant prices for Azerbaijan' series measures the degree of economic openness in Azerbaijan, which is a key indicator of its integration with global trade and investment flows.
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 economic indicator tracks the ratio of Azerbaijan's imports and exports to its gross domestic product (GDP) at constant prices, providing insights into the country's international trade orientation and reliance on foreign economic activity.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Economists and policymakers use this trend to assess Azerbaijan's economic integration, competitiveness, and susceptibility to external shocks.
Key Facts
- Azerbaijan's openness ratio was 75.3% in 2020.
- The openness ratio has increased from 59.5% in 2000.
- Openness is a key measure of a country's globalization and economic interdependence.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Azerbaijan' series measures the ratio of Azerbaijan's imports and exports to its gross domestic product (GDP) at constant prices, providing insights into the country's international trade orientation and reliance on foreign economic activity.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists and policymakers as it helps assess Azerbaijan's economic integration, competitiveness, and susceptibility 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: Economists and policymakers use this trend to evaluate Azerbaijan's trade orientation, global economic integration, and exposure to external market conditions, which informs policy decisions related to trade, investment, and macroeconomic management.
Q: Are there update delays or limitations?
A: There may be delays in data availability and updates due to the time required for data collection and processing by the World Bank.
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Citation
U.S. Federal Reserve, Openness at constant prices for Azerbaijan (OPENRPAZA156NUPN), retrieved from FRED.