Openness at constant prices for Oman
OPENRPOMA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.29
Year-over-Year Change
27.10%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at constant prices for Oman' metric measures the degree of economic integration and trade exposure for the Omani economy. It is a key indicator for economists and policymakers assessing Oman's global competitiveness and trade dependency.
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 sum of Oman's imports and exports as a percentage of its GDP, adjusted for inflation. It provides insight into the overall openness and integration of the Omani economy with global trade and investment flows.
Methodology
The data is calculated by the U.S. Federal Reserve using official trade and GDP statistics reported by the Omani government.
Historical Context
Economists and market analysts closely monitor Oman's openness metric to gauge the nation's trade policies, economic diversification, and vulnerability to external shocks.
Key Facts
- Oman's openness metric averaged 82% from 2010-2020.
- Trade accounts for over 80% of Oman's GDP, one of the highest ratios globally.
- Oman's openness has trended upward as the country diversifies its economy.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Oman' metric measures the sum of Oman's imports and exports as a percentage of its GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall openness and global integration of the Omani economy, which is crucial for assessing the nation's trade policies, economic diversification, and vulnerability to external shocks.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using official trade and GDP statistics reported by the Omani government.
Q: How is this trend used in economic policy?
A: Economists and market analysts closely monitor Oman's openness metric to gauge the nation's trade policies and overall economic integration with global markets.
Q: Are there update delays or limitations?
A: The data is subject to the reporting timelines of the Omani government, which may result in occasional update delays.
Related Trends
Openness at constant prices for Malaysia
OPENRPMYA156NUPN
Openness at Current Prices for Macao
OPENCPMOA156NUPN
Openness at Current Prices for Antigua and Barbuda
OPENCPAGA156NUPN
Openness at constant prices for Pakistan
OPENRPPKA156NUPN
Openness at constant prices for Honduras
OPENRPHNA156NUPN
Openness at Current Prices for Dominica
OPENCPDMA156NUPN
Citation
U.S. Federal Reserve, Openness at constant prices for Oman (OPENRPOMA156NUPN), retrieved from FRED.