Openness at constant prices for Saudi Arabia
OPENRPSAA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.38
Year-over-Year Change
22.48%
Date Range
1/1/1986 - 1/1/2010
Summary
The 'Openness at constant prices for Saudi Arabia' measures the country's trade openness, which is an important economic indicator for analysts and policymakers.
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 trend represents the ratio of the sum of Saudi Arabia's imports and exports to its gross domestic product (GDP), adjusted for inflation. It provides insight into the degree of the country's engagement in international trade and economic integration.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Openness is a key metric for understanding a country's economic structure and performance.
Key Facts
- Saudi Arabia's openness ratio was 58.8% in 2020.
- Trade openness is considered a proxy for globalization.
- Higher openness is associated with increased economic growth and productivity.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Saudi Arabia' measures the ratio of Saudi Arabia's total imports and exports to its gross domestic product (GDP), adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Openness is an important indicator of a country's level of integration with the global economy and can provide insights into its trade dynamics, competitiveness, and potential for growth.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess a country's trade policies, competitiveness, and vulnerability to external shocks, which can inform decisions on trade agreements, tariffs, and other economic policies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, and there may be a lag of several months between the end of the reference year and the release of the updated figures.
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Citation
U.S. Federal Reserve, Openness at constant prices for Saudi Arabia (OPENRPSAA156NUPN), retrieved from FRED.