Openness at constant prices for Guatemala
OPENRPGTA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58.33
Year-over-Year Change
-12.51%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for Guatemala' economic trend measures the degree of a country's international trade integration, specifically Guatemala, adjusted for inflation. It is a key indicator for economists and policymakers analyzing a nation's economic openness and trade dynamics.
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 trend represents the sum of imports and exports of goods and services in Guatemala, divided by the country's GDP, all measured in constant local currency units. It provides insight into Guatemala's level of engagement in global trade and commerce relative to the size of its domestic economy.
Methodology
The data is collected by the World Bank and calculated based on national accounts and balance of payments information.
Historical Context
Openness is widely used by economists and policymakers to assess a country's trade orientation and integration with the global economy.
Key Facts
- Guatemala's openness ratio was 58.4% in 2020.
- Openness has increased from 47.4% in 2000 to 58.4% in 2020.
- Higher openness is generally associated with greater economic development.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Guatemala' trend measures the degree of Guatemala's international trade integration, specifically the sum of its imports and exports relative to its GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Guatemala's level of engagement in global trade and commerce, which is a key indicator of its economic openness and integration with the global economy.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank and calculated based on national accounts and balance of payments information.
Q: How is this trend used in economic policy?
A: Openness is widely used by economists and policymakers to assess a country's trade orientation and integration with the global economy, which can inform trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Openness at constant prices for Guatemala (OPENRPGTA156NUPN), retrieved from FRED.