Openness at constant prices for Namibia
OPENRPNAA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.15
Year-over-Year Change
7.93%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at constant prices for Namibia' metric measures the trade openness of the Namibian economy, calculated as the ratio of real imports and exports to real gross domestic product. This indicator provides insights into Namibia's integration 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
The 'Openness at constant prices for Namibia' series represents the degree to which the Namibian economy is open to international trade. It is a commonly used measure of trade openness, as it captures the importance of imports and exports relative to the overall size of the economy.
Methodology
The data is calculated by the World Bank using national accounts and trade data.
Historical Context
Policymakers and analysts use this metric to assess Namibia's economic integration and exposure to global economic conditions.
Key Facts
- Namibia's openness ratio averaged 98.8% from 1990 to 2020.
- Trade openness peaked at 114.3% in 2007.
- The COVID-19 pandemic led to a decline in Namibia's trade openness to 89.3% in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Namibia' metric measures the degree to which the Namibian economy is integrated with global markets through trade. It calculates the ratio of real imports and exports to real GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Namibia's exposure to international economic conditions and the importance of trade to its overall economic activity. It is a key indicator used by policymakers and analysts to assess the country's economic integration.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and trade data for Namibia.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate Namibia's trade policies, exchange rate dynamics, and overall economic openness. It informs decisions related to trade agreements, investment, and macroeconomic management.
Q: Are there update delays or limitations?
A: The data is subject to the availability and publication schedule of the World Bank, which is the primary source. There may be delays in reporting, and the metric does not capture informal or unrecorded trade activities.
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Citation
U.S. Federal Reserve, Openness at constant prices for Namibia (OPENRPNAA156NUPN), retrieved from FRED.