Openness at constant prices for Cuba
OPENRPCUA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.69
Year-over-Year Change
27.90%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at constant prices for Cuba' trend measures the openness of the Cuban economy by calculating the ratio of the sum of exports and imports to GDP, adjusted for inflation.
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 provides insight into Cuba's economic integration with the global market and reliance on foreign trade. It is a key indicator for policymakers and analysts examining Cuba's economic policies and development.
Methodology
The data is calculated by the U.S. Federal Reserve using official Cuban economic statistics.
Historical Context
Trends in openness are closely watched by international institutions and investors to gauge Cuba's economic orientation and growth prospects.
Key Facts
- Cuba's openness ratio averaged 26% from 1986 to 2020.
- Openness declined sharply after the collapse of the Soviet Union in the early 1990s.
- Openness has remained relatively stable since the mid-2000s at around 24%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the openness of the Cuban economy by calculating the ratio of the sum of exports and imports to GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Trends in economic openness provide insight into a country's integration with the global market and reliance on foreign trade, which are key indicators for policymakers and analysts examining a country's economic policies and development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using official Cuban economic statistics.
Q: How is this trend used in economic policy?
A: Trends in openness are closely watched by international institutions and investors to gauge Cuba's economic orientation and growth prospects.
Q: Are there update delays or limitations?
A: The data is subject to the availability and reliability of official Cuban economic statistics.
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Citation
U.S. Federal Reserve, Openness at constant prices for Cuba (OPENRPCUA156NUPN), retrieved from FRED.