Openness at constant prices for Brunei
OPENRPBNA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.86
Year-over-Year Change
-0.49%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at constant prices for Brunei' metric measures the degree of economic openness in Brunei, adjusting for inflation. It provides insights into the country's trade balance and integration with the global economy.
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 ratio represents the sum of exports and imports as a percentage of GDP, calculated using constant prices to account for inflation. This indicator reflects Brunei's level of engagement in international trade and commerce.
Methodology
The data is collected and calculated by the World Bank using official government statistics.
Historical Context
Policymakers and economists use this metric to assess Brunei's economic policies and competitiveness in the global marketplace.
Key Facts
- Brunei's openness ratio reached a high of 112.9% in 2013.
- The metric has declined in recent years, reflecting Brunei's efforts to diversify its economy.
- Openness is an important indicator of a country's integration with global supply chains.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Brunei' metric measures the sum of exports and imports as a percentage of Brunei's GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Brunei's level of economic integration and trade balance, which are key factors in assessing the country's competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using official government statistics on Brunei's exports, imports, and GDP.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this openness metric to evaluate Brunei's trade policies, economic diversification efforts, and overall integration with the global economy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in accessing the most recent figures. Additionally, the metric is subject to changes in Brunei's trade patterns and GDP composition.
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Citation
U.S. Federal Reserve, Openness at constant prices for Brunei (OPENRPBNA156NUPN), retrieved from FRED.