Openness at constant prices for Lithuania
OPENRPLTA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.45
Year-over-Year Change
42.76%
Date Range
1/1/1993 - 1/1/2010
Summary
The 'Openness at constant prices for Lithuania' series measures the ratio of the sum of exports and imports to GDP, adjusted for inflation, for the Lithuanian economy. This metric provides insight into the degree of international trade and economic integration.
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
The openness metric reflects the importance of international trade to a country's economic activity. It is a commonly used indicator to assess the exposure and connectedness of a national economy to global markets and supply chains.
Methodology
The data is calculated by the OECD using official national accounts statistics.
Historical Context
Policymakers and analysts monitor openness to gauge the potential impact of trade policies and exchange rate movements on the domestic economy.
Key Facts
- Lithuania's openness ratio averaged over 150% from 2010-2020.
- Openness reached a peak of 168% in 2018 before declining slightly.
- High openness reflects Lithuania's small domestic market and export-oriented economy.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Lithuania' series measures the ratio of total exports and imports to GDP for the Lithuanian economy, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: The openness metric provides insight into the degree of a country's economic integration and exposure to international trade, which is a key factor for policymakers and businesses to monitor.
Q: How is this data collected or calculated?
A: The OECD calculates this metric using official national accounts statistics for Lithuania.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the openness ratio to assess the potential impacts of trade policies, exchange rate movements, and other external economic factors on the domestic Lithuanian economy.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. Additionally, revisions to historical national accounts data can lead to changes in the openness ratio over time.
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Citation
U.S. Federal Reserve, Openness at constant prices for Lithuania (OPENRPLTA156NUPN), retrieved from FRED.