Openness at constant prices for Kazakhstan
OPENRPKZA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.58
Year-over-Year Change
-37.29%
Date Range
1/1/1993 - 1/1/2010
Summary
The 'Openness at constant prices for Kazakhstan' metric measures the degree of trade openness in the Kazakhstani economy. It is an important indicator for economists and policymakers assessing a country's economic integration and exposure to 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 economic indicator calculates the ratio of a country's total trade (exports plus imports) to its gross domestic product, adjusted for inflation. It provides insight into the economy's reliance on international commerce and its integration with the global economy.
Methodology
The data is compiled by the World Bank using national accounts and trade statistics.
Historical Context
Openness is a key factor in evaluating a country's economic policies, growth potential, and vulnerability to external shocks.
Key Facts
- Kazakhstan's openness ratio averaged 53% from 1996 to 2021.
- Trade openness is linked to higher GDP growth and productivity.
- Openness makes economies more vulnerable to global economic fluctuations.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Kazakhstan' metric measures the degree of trade openness in the Kazakhstani economy by calculating the ratio of total trade (exports plus imports) to GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Openness is a key indicator of a country's economic integration and exposure to global markets, which is important for evaluating growth potential, vulnerability to external shocks, and the effectiveness of economic policies.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank using national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Openness metrics are used by economists, policymakers, and market analysts to assess a country's trade orientation, competitiveness, and susceptibility to global economic conditions.
Q: Are there update delays or limitations?
A: The data may have a lag of 1-2 years due to the time required for national statistical agencies to compile and publish the necessary trade and GDP figures.
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Citation
U.S. Federal Reserve, Openness at constant prices for Kazakhstan (OPENRPKZA156NUPN), retrieved from FRED.