Openness at constant prices for Bahamas
OPENRPBSA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.49
Year-over-Year Change
2.88%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at constant prices for Bahamas' metric measures the degree of economic integration between the Bahamas and the global economy. It is an important indicator for economists and policymakers analyzing trade patterns and economic growth.
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 metric represents the ratio of the sum of exports and imports of goods and services to the country's GDP, adjusted for inflation. It provides insight into the Bahamas' level of international trade and integration within the global marketplace.
Methodology
The data is calculated by the U.S. Federal Reserve using official trade and GDP statistics from the Bahamas.
Historical Context
This openness indicator is widely used by analysts to assess the Bahamas' economic dependence on foreign markets and its exposure to external shocks.
Key Facts
- The Bahamas has a highly open economy.
- Trade accounts for over 100% of the Bahamas' GDP.
- Openness has increased significantly over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the degree of economic openness and integration between the Bahamas and the global economy, as represented by the ratio of trade (exports plus imports) to GDP.
Q: Why is this trend relevant for users or analysts?
A: The openness metric provides valuable insight into the Bahamas' reliance on international trade and exposure to external economic conditions, which is crucial for analyzing the country's growth prospects and policy responses.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates this metric using official trade and GDP statistics from the Bahamas.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the openness indicator to assess the Bahamas' economic dependence on foreign markets and inform trade, fiscal, and monetary policies aimed at promoting sustainable growth and resilience.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness of the underlying trade and GDP statistics reported by the Bahamas, which may result in occasional update delays.
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Citation
U.S. Federal Reserve, Openness at constant prices for Bahamas (OPENRPBSA156NUPN), retrieved from FRED.