Openness at constant prices for Niger
OPENRPNEA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.55
Year-over-Year Change
0.92%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at constant prices for Niger' trend measures the ratio of imports plus exports to GDP, adjusted for inflation, providing insight into the degree of integration of the Nigerien economy with global trade.
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 openness of the Nigerien economy, reflecting its participation in international trade. It is a key indicator used by economists and policymakers to assess the economy's exposure to external factors and the potential benefits or risks associated with globalization.
Methodology
The data is calculated by the World Bank using national accounts and trade statistics.
Historical Context
Openness is an important factor in economic policy decisions related to trade, investment, and exchange rates.
Key Facts
- Niger's openness ratio has steadily increased over the past decade.
- Openness is linked to higher GDP per capita in developing economies.
- Openness can expose countries to external shocks and volatility.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of imports plus exports to GDP in Niger, adjusted for inflation, providing insight into the degree of integration of the Nigerien economy with global trade.
Q: Why is this trend relevant for users or analysts?
A: Openness is a key indicator used by economists and policymakers to assess a country's exposure to external factors and the potential benefits or risks associated with globalization, making it relevant for understanding the Nigerien economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Openness is an important factor in economic policy decisions related to trade, investment, and exchange rates, as it reflects a country's integration with the global economy.
Q: Are there update delays or limitations?
A: The data may be subject to update delays or revisions by the World Bank, and it may not capture all aspects of a country's economic openness.
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Citation
U.S. Federal Reserve, Openness at constant prices for Niger (OPENRPNEA156NUPN), retrieved from FRED.