Openness at constant prices for Turkmenistan
OPENRPTMA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.30
Year-over-Year Change
17.04%
Date Range
1/1/1993 - 1/1/2010
Summary
The 'Openness at constant prices for Turkmenistan' trend measures the degree of economic openness in Turkmenistan, a key indicator for policymakers and analysts studying the country's trade and economic integration.
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 economic indicator tracks Turkmenistan's openness, calculated as the ratio of the sum of exports and imports to GDP at constant prices. It provides insights into the country's trade orientation and integration with the global economy.
Methodology
The data is calculated by the World Bank using national accounts and trade statistics.
Historical Context
Openness is a crucial metric for assessing Turkmenistan's economic policies and external competitiveness.
Key Facts
- Turkmenistan's openness ratio reached a high of 0.91 in 2008.
- Openness declined during the 2014-2016 economic downturn.
- Higher openness is associated with greater economic growth and development.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Turkmenistan' trend measures the ratio of the sum of exports and imports to GDP in Turkmenistan, providing insights into the country's trade orientation and economic integration.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating Turkmenistan's economic policies, trade competitiveness, and integration with the global economy, which are key considerations for policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and trade statistics for Turkmenistan.
Q: How is this trend used in economic policy?
A: Openness is a fundamental indicator for assessing Turkmenistan's trade policies, external competitiveness, and integration with global markets, which are important considerations for economic policymakers.
Q: Are there update delays or limitations?
A: The data may be subject to periodic revisions and updates by the World Bank, and there can be lags in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Openness at constant prices for Turkmenistan (OPENRPTMA156NUPN), retrieved from FRED.