Openness at constant prices for Botswana
OPENRPBWA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73.39
Year-over-Year Change
-23.99%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at constant prices for Botswana' metric measures the ratio of imports and exports to Botswana's gross domestic product (GDP) adjusted for inflation. This provides insight into the degree of Botswana's economic integration and trade dependency.
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 measure reflects a country's integration with the global economy. It is calculated as the sum of imports and exports divided by GDP, using constant prices to adjust for inflation. Economists use this metric to evaluate the relative significance of international trade for a country's economic activity.
Methodology
The data is collected and calculated by the International Monetary Fund using national accounts statistics.
Historical Context
Policymakers monitor a country's openness to assess the potential impacts of trade policies and exchange rate movements.
Key Facts
- Botswana's openness ratio averaged 91% from 1980 to 2021.
- Openness peaked at 104% in 2000 and reached a low of 76% in 2020.
- Botswana is considered a highly open economy relative to the size of its GDP.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Botswana' metric measures the ratio of imports and exports to Botswana's gross domestic product (GDP), adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: The openness measure provides insight into the degree of Botswana's economic integration and trade dependency, which is useful for evaluating the potential impacts of trade policies and exchange rate movements.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the International Monetary Fund using national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers monitor a country's openness to assess the potential impacts of trade policies and exchange rate movements on the domestic economy.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of national accounts statistics reported by the Botswana government.
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Citation
U.S. Federal Reserve, Openness at constant prices for Botswana (OPENRPBWA156NUPN), retrieved from FRED.