Openness at constant prices for Estonia
OPENRPEEA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
156.40
Year-over-Year Change
24.14%
Date Range
1/1/1990 - 1/1/2010
Summary
The Openness at constant prices for Estonia measures the degree of economic integration between Estonia and the global economy. It is a key indicator for understanding Estonia's trade and financial linkages.
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 at constant prices is calculated as the sum of exports and imports of goods and services divided by GDP, all adjusted for inflation. It provides insight into how open and integrated the Estonian economy is with international markets.
Methodology
The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Openness is an important metric for policymakers and analysts to assess Estonia's economic exposure and vulnerabilities to global trends and shocks.
Key Facts
- Estonia's Openness ratio was 148% in 2021.
- Openness has increased from 121% in 2000 to 148% in 2021.
- Estonia is one of the most trade-dependent economies in the European Union.
FAQs
Q: What does this economic trend measure?
A: The Openness at constant prices for Estonia measures the degree to which the Estonian economy is integrated with the global economy through trade in goods and services.
Q: Why is this trend relevant for users or analysts?
A: Openness is a key indicator of a country's economic integration and exposure to international trade and financial flows, which is important for assessing economic performance and vulnerabilities.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Openness metric to evaluate Estonia's trade linkages, economic diversification, and exposure to global shocks, which informs decisions on trade, industrial, and macroeconomic policies.
Q: Are there update delays or limitations?
A: The Openness data is published annually with a lag of approximately one year, so the most recent data point may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Openness at constant prices for Estonia (OPENRPEEA156NUPN), retrieved from FRED.