Openness at constant prices for Belize
OPENRPBZA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.34
Year-over-Year Change
-6.09%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at constant prices for Belize' metric measures the degree to which the Belize economy is integrated with global trade, adjusting for inflation. It is a key indicator for economists and policymakers analyzing the country's economic openness and international competitiveness.
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 calculates the ratio of the sum of imports and exports to Belize's gross domestic product (GDP), using constant price data to control for inflation. It provides insight into the relative size and importance of international trade for the Belize economy.
Methodology
The data is calculated by the U.S. Federal Reserve using official statistics on Belize's imports, exports, and GDP.
Historical Context
Economists and policymakers monitor this openness metric to gauge Belize's trade integration and exposure to global economic forces.
Key Facts
- Belize's openness ratio averaged around 100% from 2010-2020.
- Trade accounted for over half of Belize's GDP during this period.
- Openness has fluctuated due to changes in global demand and commodity prices.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Belize' metric measures the degree to which Belize's economy is integrated with global trade, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This openness metric provides insight into Belize's trade integration and exposure to global economic forces, which is crucial for economists and policymakers assessing the country's economic competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using official statistics on Belize's imports, exports, and GDP.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor Belize's openness ratio to gauge the country's trade integration and exposure to global economic conditions, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and revision practices of the source agencies, which may result in occasional update delays or revisions.
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Citation
U.S. Federal Reserve, Openness at constant prices for Belize (OPENRPBZA156NUPN), retrieved from FRED.