Openness at constant prices for Slovak Republic
OPENRPSKA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
161.42
Year-over-Year Change
46.38%
Date Range
1/1/1987 - 1/1/2010
Summary
The 'Openness at constant prices for Slovak Republic' measures the trade openness of the Slovak economy, providing insights into its global economic integration and exposure to international markets.
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 indicator represents the ratio of the sum of imports and exports to gross domestic product (GDP) in the Slovak Republic, adjusted for inflation. It serves as a gauge of the economy's engagement in international trade and its dependence on foreign markets.
Methodology
The data is calculated by the OECD using national accounts statistics.
Historical Context
This metric is closely watched by policymakers and analysts to assess the Slovak Republic's economic policies and external vulnerabilities.
Key Facts
- The openness ratio for the Slovak Republic was 193.3% in 2021.
- Slovakia is one of the most trade-dependent economies in the European Union.
- The openness metric has increased significantly since Slovakia's accession to the EU in 2004.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Slovak Republic' measures the ratio of the sum of imports and exports to the country's gross domestic product, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the Slovak Republic's level of integration with the global economy and its dependence on international trade, which is crucial for assessing the country's economic policies and external vulnerabilities.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor the openness ratio to evaluate the Slovak Republic's economic policies and its exposure to global economic conditions.
Q: Are there update delays or limitations?
A: The data is subject to the availability of national accounts statistics, which may result in occasional update delays.
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Citation
U.S. Federal Reserve, Openness at constant prices for Slovak Republic (OPENRPSKA156NUPN), retrieved from FRED.