Openness at constant prices for Kuwait
OPENRPKWA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78.48
Year-over-Year Change
-18.39%
Date Range
1/1/1986 - 1/1/2010
Summary
The 'Openness at constant prices for Kuwait' measures the degree of trade openness in the Kuwaiti economy. It is an important indicator for economists and policymakers to assess the integration of Kuwait's economy with global markets.
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 imports and exports to the gross domestic product (GDP) of Kuwait, adjusted for inflation. It provides insights into the level of a country's international trade activity and economic integration.
Methodology
The data is calculated by the United Nations using national accounts statistics.
Historical Context
Openness is a key factor considered in the formulation of trade and economic policies.
Key Facts
- Kuwait's openness ratio averaged 84.5% from 2010 to 2020.
- Trade openness is higher in smaller, more export-oriented economies.
- Openness is linked to economic growth, productivity, and living standards.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Kuwait' measures the degree of trade openness in the Kuwaiti economy, calculated as the ratio of imports and exports to GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Kuwait's level of international trade and economic integration, which is a key factor considered in the formulation of trade and economic policies.
Q: How is this data collected or calculated?
A: The data is calculated by the United Nations using national accounts statistics.
Q: How is this trend used in economic policy?
A: Openness is a key factor considered by economists and policymakers in assessing a country's trade and economic integration policies.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of national accounts statistics.
Related Trends
Openness at Current Prices for Kazakhstan
OPENCPKZA156NUPN
Openness at Current Prices for Jordan
OPENCPJOA156NUPN
Openness at Current Prices for Maldives
OPENCPMVA156NUPN
Openness at Current Prices for Belize
OPENCPBZA156NUPN
Openness at Current Prices for Pakistan
OPENCPPKA156NUPN
Openness at constant prices for Colombia
OPENRPCOA156NUPN
Citation
U.S. Federal Reserve, Openness at constant prices for Kuwait (OPENRPKWA156NUPN), retrieved from FRED.