Openness at constant prices for Kenya
OPENRPKEA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.40
Year-over-Year Change
29.86%
Date Range
1/1/1950 - 1/1/2010
Summary
The Openness at Constant Prices for Kenya measures the relative size of a country's international trade, which is an important indicator of economic integration and growth.
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 exports and imports of goods and services measured at constant prices, divided by GDP. It provides insight into a country's level of integration with the global economy and the relative importance of international trade to its economic activity.
Methodology
The data is calculated using constant-price GDP and trade flow data.
Historical Context
Openness is a key metric used by policymakers and analysts to assess a country's trade policies and competitiveness.
Key Facts
- Kenya's openness ratio has increased from 58% in 2000 to 63% in 2021.
- Openness is positively correlated with GDP per capita growth.
- Increasing openness can boost productivity through greater competition and specialization.
FAQs
Q: What does this economic trend measure?
A: The Openness at Constant Prices for Kenya measures the relative size of the country's international trade, including both exports and imports, compared to its GDP.
Q: Why is this trend relevant for users or analysts?
A: Openness is an important indicator of a country's level of economic integration and how trade-dependent its economy is, which is crucial for policymakers and analysts assessing a country's growth potential and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated using constant-price GDP and trade flow data reported by the country.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the openness ratio to evaluate a country's trade policies, monitor its competitiveness, and assess the potential impact of changes in the global economy.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and methodological changes of the source agencies, which can result in periodic updates and revisions.
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Citation
U.S. Federal Reserve, Openness at Constant Prices for Kenya (OPENRPKEA156NUPN), retrieved from FRED.