Openness at constant prices for Thailand
OPENRPTHA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
146.97
Year-over-Year Change
32.14%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for Thailand' indicator measures the degree of Thailand's economic integration with the global market. It is a key metric for evaluating Thailand's trade and investment dynamics.
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 Thailand's total trade (exports plus imports) as a percentage of its GDP, adjusted for inflation. It provides insights into the openness and integration of the Thai economy within the international marketplace.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments data.
Historical Context
Policymakers and analysts use this metric to assess Thailand's trade competitiveness and exposure to global economic conditions.
Key Facts
- Thailand's openness ratio averaged 120% from 2010-2020.
- The ratio reached a high of 131% in 2012 before declining to 103% in 2020.
- Trade plays a central role in Thailand's economy, which is heavily export-oriented.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Thailand' indicator measures the degree of Thailand's economic integration with the global market by representing its total trade as a percentage of GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Thailand's trade competitiveness and exposure to global economic conditions, which is crucial for policymakers and analysts evaluating the country's trade dynamics and economic integration.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Thailand's trade competitiveness and exposure to global economic conditions, which informs policy decisions related to trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Openness at constant prices for Thailand (OPENRPTHA156NUPN), retrieved from FRED.