Openness at constant prices for Laos
OPENRPLAA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63.94
Year-over-Year Change
-13.69%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at constant prices for Laos' indicator measures the degree of economic openness in Laos by comparing the sum of exports and imports to the country's gross domestic product (GDP) at constant prices.
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 provides insight into Laos' international trade integration and the relative importance of foreign trade to its overall economic activity. It is a key measure used by economists and policymakers to assess a country's integration into the global economy.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Openness is an important factor in evaluating a country's economic policies, competitiveness, and growth potential.
Key Facts
- Laos' openness ratio was 72.7% in 2021.
- Openness has increased from 49.4% in 2000 to 72.7% in 2021.
- Higher openness is associated with greater economic growth and development.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Laos' indicator measures the degree of Laos' economic openness by comparing its total trade (exports plus imports) to its gross domestic product (GDP) at constant prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Laos' international trade integration and the relative importance of foreign trade to its overall economic activity, which is a key factor in evaluating the country's economic policies, competitiveness, and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the openness ratio to assess a country's integration into the global economy and to inform decisions on trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a lag of approximately two years.
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Citation
U.S. Federal Reserve, Openness at constant prices for Laos (OPENRPLAA156NUPN), retrieved from FRED.