Openness at constant prices for Jordan
OPENRPJOA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
129.88
Year-over-Year Change
-0.97%
Date Range
1/1/1954 - 1/1/2010
Summary
The Openness at constant prices for Jordan measures the ratio of the sum of exports and imports to GDP at constant prices, providing insight into the country's economic integration and trade openness.
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 evaluates the degree to which Jordan's economy is integrated with global trade, by comparing the combined value of its exports and imports to its overall economic output. It is a key indicator of a country's trade dependence and orientation.
Methodology
The data is calculated by the World Bank using national accounts data.
Historical Context
Policymakers and analysts use this metric to assess Jordan's economic structure and competitiveness.
Key Facts
- Jordan's openness ratio averaged 88.3% from 1970 to 2021.
- Trade accounted for over 80% of Jordan's GDP in 2021.
- Jordan has focused on export-oriented growth strategies in recent decades.
FAQs
Q: What does this economic trend measure?
A: The Openness at constant prices for Jordan measures the ratio of the sum of exports and imports to GDP at constant prices, providing insight into the country's economic integration and trade openness.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of a country's trade dependence and orientation, which is crucial for understanding its economic structure and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Jordan's economic structure and competitiveness, and to inform trade and macroeconomic policies.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, with a potential delay of several months.
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Citation
U.S. Federal Reserve, Openness at constant prices for Jordan (OPENRPJOA156NUPN), retrieved from FRED.