Openness at constant prices for Venezuela
OPENRPVEA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.33
Year-over-Year Change
-18.12%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for Venezuela' indicator measures the ratio of a country's total trade (exports plus imports) to its gross domestic product (GDP) at constant prices. This metric provides insights into a country's level of economic integration and engagement with the global marketplace.
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 indicator is a widely used measure of a country's economic openness or trade orientation. It shows the degree to which a nation's economy is exposed to international trade and investment flows. Policymakers and economists analyze this metric to assess a country's integration with the global economy and its vulnerability to external economic shocks.
Methodology
The data is calculated by the U.S. Federal Reserve using official trade and GDP statistics from Venezuela.
Historical Context
This openness indicator is a key input for analyzing a country's exchange rate policy, trade balance, and overall macroeconomic performance.
Key Facts
- Venezuela's openness ratio averaged around 0.50 from 2000 to 2015.
- Trade openness is linked to higher productivity and economic growth.
- Openness can also increase a country's vulnerability to external shocks.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Venezuela' indicator measures the ratio of Venezuela's total trade (exports plus imports) to its gross domestic product (GDP) at constant prices.
Q: Why is this trend relevant for users or analysts?
A: The openness indicator provides insights into Venezuela's level of economic integration and engagement with the global marketplace, which is crucial for assessing the country's macroeconomic performance and vulnerability to external shocks.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using official trade and GDP statistics from Venezuela.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this openness indicator to assess Venezuela's exchange rate policy, trade balance, and overall macroeconomic performance.
Q: Are there update delays or limitations?
A: The data may be subject to periodic revisions and delays in reporting from the Venezuelan government.
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Citation
U.S. Federal Reserve, Openness at constant prices for Venezuela (OPENRPVEA156NUPN), retrieved from FRED.