Openness at constant prices for Paraguay
OPENRPPYA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.44
Year-over-Year Change
-18.54%
Date Range
1/1/1951 - 1/1/2010
Summary
The 'Openness at constant prices for Paraguay' economic trend measures the ratio of a country's total trade (exports plus imports) to its GDP, adjusted for inflation. This metric is a key indicator of a country's economic integration and participation in 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
Openness is a fundamental measure of economic globalization, capturing the degree to which a country's economy is connected to international markets through trade. It reflects the importance of imports and exports relative to domestic economic activity, and is a useful indicator for assessing a country's exposure to external economic factors.
Methodology
The data is calculated by the World Bank using constant local currency units to control for inflation.
Historical Context
Policymakers and analysts use openness data to evaluate a country's trade orientation and susceptibility to global economic conditions.
Key Facts
- Paraguay's openness ratio was 58.4% in 2021.
- Openness has increased in Paraguay over the past decade.
- Highly open economies are more vulnerable to external shocks.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Paraguay' metric measures the ratio of a country's total trade (exports plus imports) to its GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Openness is a key indicator of a country's economic integration and participation in global trade, which is important for assessing its exposure to external economic factors.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using constant local currency units to control for inflation.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use openness data to evaluate a country's trade orientation and susceptibility to global economic conditions.
Q: Are there update delays or limitations?
A: The openness data is published annually by the World Bank with a slight delay, and may be subject to revisions over time.
Related Trends
Openness at constant prices for Costa Rica
OPENRPCRA156NUPN
Openness at Current Prices for Romania
OPENCPROA156NUPN
Openness at constant prices for Peru
OPENRPPEA156NUPN
Openness at constant prices for Kuwait
OPENRPKWA156NUPN
Openness at Current Prices for Puerto Rico
OPENCPPRA156NUPN
Openness at Current Prices for Guatemala
OPENCPGTA156NUPN
Citation
U.S. Federal Reserve, Openness at constant prices for Paraguay (OPENRPPYA156NUPN), retrieved from FRED.