Openness at constant prices for Philippines
OPENRPPHA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.41
Year-over-Year Change
6.74%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for Philippines' measures the degree of openness of the Philippine economy by calculating the ratio of imports and exports to gross domestic product. This metric is a key indicator of a country's participation in global 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
Openness is a measure of how connected a country's economy is to the global marketplace. It represents the combined value of a country's imports and exports as a percentage of its GDP. Economists and policymakers use this indicator to assess the degree of trade integration and the impact of trade policies.
Methodology
The data is calculated by the Philippine Statistics Authority based on national accounts.
Historical Context
Openness is a crucial metric for evaluating the potential impact of trade agreements, tariffs, and other economic policies on a country's growth and competitiveness.
Key Facts
- The Philippines has historically maintained a relatively open economy.
- Openness has fluctuated between 50-70% of GDP in recent decades.
- Trade integration is a key driver of the Philippine economy's growth.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Philippines' measures the degree of trade integration and globalization of the Philippine economy by calculating the ratio of imports and exports to gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: Openness is a crucial indicator for evaluating the potential impact of trade policies, agreements, and other economic factors on a country's growth, competitiveness, and integration with the global marketplace.
Q: How is this data collected or calculated?
A: The data is calculated by the Philippine Statistics Authority based on national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the openness metric to assess the degree of trade integration and the potential impacts of trade-related policies on the Philippine economy.
Q: Are there update delays or limitations?
A: The openness data is updated periodically by the Philippine Statistics Authority, but there may be some delays in data availability.
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Citation
U.S. Federal Reserve, Openness at constant prices for Philippines (OPENRPPHA156NUPN), retrieved from FRED.