Openness at constant prices for Ecuador
OPENRPECA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65.02
Year-over-Year Change
18.49%
Date Range
1/1/1951 - 1/1/2010
Summary
The 'Openness at constant prices for Ecuador' trend measures the degree of openness of the Ecuadorian economy, which is a key indicator of economic integration and trade. It is an important metric for economists and policymakers in understanding a country's trade dynamics and exposure to global markets.
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 tracks the ratio of the sum of exports and imports to GDP at constant prices for Ecuador. It provides insights into the relative importance of international trade to the overall economy and can inform policies related to trade, investment, and economic growth.
Methodology
The data is calculated by the World Bank using national accounts and trade data.
Historical Context
Policymakers and analysts use this metric to assess Ecuador's economic openness and integration with the global economy.
Key Facts
- Ecuador's openness ratio averaged 47% from 2010 to 2020.
- Openness reached a high of 52.6% in 2012 and a low of 39.2% in 2020.
- Trade openness is a key indicator of a country's integration with the global economy.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Ecuador' trend measures the degree of openness of the Ecuadorian economy by tracking the ratio of the sum of exports and imports to GDP at constant prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the relative importance of international trade to Ecuador's overall economy, which is a key indicator of economic integration and can inform policies related to trade, investment, and economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and trade data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Ecuador's economic openness and integration with the global economy, which can inform policies related to trade, investment, and economic growth.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in the underlying national accounts and trade data for Ecuador.
Related Trends
Openness at constant prices for Sri Lanka
OPENRPLKA156NUPN
Openness at Current Prices for Central African Republic
OPENCPCFA156NUPN
Openness at constant prices for Fiji
OPENRPFJA156NUPN
Openness at constant prices for Djibouti
OPENRPDJA156NUPN
Openness at Current Prices for Argentina
OPENCPARA156NUPN
Openness at constant prices for Honduras
OPENRPHNA156NUPN
Citation
U.S. Federal Reserve, Openness at constant prices for Ecuador (OPENRPECA156NUPN), retrieved from FRED.