Openness at constant prices for Republic of Congo
OPENRPCGA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.12
Year-over-Year Change
-6.53%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at constant prices for Republic of Congo' metric measures the degree to which the Congolese economy is integrated with global trade. This is a key indicator for policymakers assessing the country's economic development and exposure to international market forces.
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
Openness is calculated as the sum of imports and exports divided by GDP, all measured at constant prices. It provides insight into how much the Congolese economy relies on foreign trade rather than domestic production and consumption.
Methodology
The data is collected from national accounts statistics and calculated by the World Bank.
Historical Context
Openness is widely used by economists and policymakers to evaluate a country's trade orientation and integration into the global economy.
Key Facts
- Openness for Congo was 58.8% in 2020.
- Openness has increased from 33.1% in 1990 to 58.8% in 2020.
- Congo is considered a relatively open economy compared to other Central African nations.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Republic of Congo' metric measures the degree to which the Congolese economy is integrated with global trade, calculated as the ratio of imports plus exports to GDP.
Q: Why is this trend relevant for users or analysts?
A: Openness is a key indicator of a country's trade orientation and integration into the global economy, providing insight into the Congolese economy's reliance on foreign trade versus domestic production.
Q: How is this data collected or calculated?
A: The data is collected from national accounts statistics and calculated by the World Bank.
Q: How is this trend used in economic policy?
A: Openness is widely used by economists and policymakers to evaluate a country's trade orientation and exposure to international market forces, informing decisions on trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, with a typical 1-2 year lag in availability.
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Citation
U.S. Federal Reserve, Openness at constant prices for Republic of Congo (OPENRPCGA156NUPN), retrieved from FRED.