Openness at constant prices for Sudan
OPENRPSDA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.89
Year-over-Year Change
172.50%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at constant prices for Sudan' metric measures the ratio of a country's total trade (imports plus exports) to its gross domestic product (GDP) at constant prices. This provides insight into Sudan's economic integration and exposure to 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
The openness metric is a key economic indicator that reflects a country's level of international trade and integration with the global economy. It is used by policymakers and analysts to assess a country's trade orientation, competitiveness, and vulnerability to external shocks.
Methodology
The data is calculated by the World Bank using national accounts and trade data.
Historical Context
Openness trends are closely monitored by economists and policymakers to inform decisions around trade, investment, and economic development policies.
Key Facts
- Openness for Sudan was 27.7% in 2020.
- Sudan's openness has declined from a high of 33.4% in 2010.
- Increased openness is associated with higher economic growth.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Sudan' metric measures the ratio of Sudan's total trade (imports plus exports) to its gross domestic product (GDP) at constant prices.
Q: Why is this trend relevant for users or analysts?
A: The openness metric provides insight into Sudan's level of economic integration and exposure to global trade, which is relevant for understanding the country's competitiveness, vulnerability to external shocks, and informing trade and economic development policies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and trade data.
Q: How is this trend used in economic policy?
A: Openness trends are closely monitored by economists and policymakers to inform decisions around trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: The openness data may have update delays due to the time required to collect and process the underlying national accounts and trade data.
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Citation
U.S. Federal Reserve, Openness at constant prices for Sudan (OPENRPSDA156NUPN), retrieved from FRED.