Openness at constant prices for Gabon
OPENRPGAA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86.60
Year-over-Year Change
-3.27%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at constant prices for Gabon' metric measures the degree of trade openness in Gabon's economy, which is an important indicator of economic integration and growth potential.
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 represents the ratio of the sum of Gabon's imports and exports to its gross domestic product (GDP), adjusted for inflation. It provides insight into the level of international trade and economic interdependence within Gabon's economy.
Methodology
The data is calculated by the World Bank using national accounts and trade statistics.
Historical Context
Openness is a key consideration for policymakers and investors assessing Gabon's economic development and trade competitiveness.
Key Facts
- Gabon's openness ratio averaged 79% from 2010-2020.
- Trade openness is higher in Gabon than the regional average for Sub-Saharan Africa.
- Openness has fluctuated with commodity price changes and domestic policy shifts.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Gabon' metric measures the degree of trade openness in Gabon's economy by comparing the sum of imports and exports to its GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Trade openness is an important indicator of a country's economic integration, competitiveness, and growth potential, making this metric relevant for policymakers, investors, and economists analyzing Gabon's economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use Gabon's openness ratio to assess the country's trade competitiveness, economic diversification, and vulnerability to external shocks, informing policies related to trade, investment, and macroeconomic management.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of national accounts and trade statistics reported by Gabon, which can result in occasional delays or gaps in the time series.
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Citation
U.S. Federal Reserve, Openness at constant prices for Gabon (OPENRPGAA156NUPN), retrieved from FRED.