Openness at constant prices for Burundi
OPENRPBIA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.95
Year-over-Year Change
57.90%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at constant prices for Burundi' metric measures the ratio of imports and exports to GDP, adjusted for inflation. It provides insights into the degree of Burundi's economic integration and trade openness.
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 represents Burundi's trade openness, calculated as the sum of exports and imports of goods and services measured at constant national prices, divided by the country's GDP. It is used by economists and policymakers to assess the extent of Burundi's participation in the global economy.
Methodology
The data is compiled by the World Bank using national accounts and balance of payments statistics.
Historical Context
This metric is relevant for understanding Burundi's trade policy, competitiveness, and economic exposure to external shocks.
Key Facts
- Burundi's trade openness ratio averaged 39.5% from 2010 to 2020.
- The metric reached its highest point of 44.4% in 2014.
- Trade openness declined during the COVID-19 pandemic, falling to 36.1% in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Burundi' metric measures the ratio of imports and exports to GDP, adjusted for inflation, providing insights into Burundi's economic integration and trade openness.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for understanding Burundi's trade policy, competitiveness, and exposure to external economic shocks.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess Burundi's participation in the global economy and inform trade and economic integration policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture the most recent economic conditions in Burundi.
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Citation
U.S. Federal Reserve, Openness at constant prices for Burundi (OPENRPBIA156NUPN), retrieved from FRED.