Openness at constant prices for Nicaragua
OPENRPNIA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.66
Year-over-Year Change
43.76%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for Nicaragua' metric measures the degree of economic integration and trade activity in Nicaragua, adjusting for inflation. It is a key indicator for economists and policymakers tracking the country's participation in 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
Openness refers to the size of a country's trade (exports plus imports) relative to its overall economic output or GDP. This metric provides insight into Nicaragua's level of international economic engagement and how that has changed over time after accounting for price fluctuations.
Methodology
The data is calculated by the U.S. Federal Reserve using official trade and GDP statistics from Nicaragua.
Historical Context
Openness is widely used to assess a country's trade policy orientation and economic globalization.
Key Facts
- Nicaragua's openness ratio was 101.3% in 2021.
- Openness has increased by over 50 percentage points since 1980.
- Higher openness is associated with greater economic growth and prosperity.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Nicaragua' metric tracks the size of Nicaragua's total trade (exports plus imports) relative to its GDP, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: Openness is a key indicator of a country's level of international economic integration and participation in global markets, which is crucial for understanding its growth prospects and policy orientation.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates this metric using official trade and GDP statistics from Nicaragua.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the openness ratio to assess a country's trade policy, globalization, and economic integration with the rest of the world.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, but there may be lags in the availability of the most recent figures from Nicaragua.
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Citation
U.S. Federal Reserve, Openness at constant prices for Nicaragua (OPENRPNIA156NUPN), retrieved from FRED.