Openness at constant prices for Czech Republic
OPENRPCZA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
147.36
Year-over-Year Change
70.07%
Date Range
1/1/1990 - 1/1/2010
Summary
The 'Openness at constant prices for Czech Republic' measures the degree of trade openness in the Czech economy, which is a key indicator of economic integration and globalization.
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 a country's total trade (exports plus imports) to its gross domestic product (GDP) at constant prices. It provides insight into the importance of international trade in the Czech economy and how this has evolved over time.
Methodology
The data is calculated by the OECD using national accounts and trade statistics.
Historical Context
Policymakers and analysts monitor this indicator to assess the Czech Republic's economic integration and exposure to global trade flows.
Key Facts
- Trade accounts for over 150% of the Czech Republic's GDP.
- The Czech Republic's trade openness has increased by over 50% since the 1990s.
- Germany is the Czech Republic's largest trading partner.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Czech Republic' metric measures the degree of trade openness in the Czech economy, calculated as the ratio of total trade (exports plus imports) to GDP.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the importance of international trade to the Czech economy and its level of economic integration with global markets.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this indicator to assess the Czech Republic's economic integration and exposure to global trade flows, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the OECD, but there may be some delays in the most recent data points.
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Citation
U.S. Federal Reserve, Openness at constant prices for Czech Republic (OPENRPCZA156NUPN), retrieved from FRED.