Openness at constant prices for Samoa
OPENRPWSA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.21
Year-over-Year Change
-2.79%
Date Range
1/1/1970 - 1/1/2010
Summary
The Openness at constant prices for Samoa measures the relative importance of international trade to the Samoan economy. It is a key indicator for economists and policymakers to assess the country's economic integration and exposure to global 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
Openness at constant prices is calculated as the sum of exports and imports of goods and services, divided by GDP, all measured in constant local currency units. This metric provides insight into the degree of trade integration and the economy's reliance on international commerce.
Methodology
The data is collected and calculated by the World Bank using national accounts statistics.
Historical Context
Openness is widely used to evaluate a country's trade policies and exposure to external economic forces.
Key Facts
- Samoa's openness ratio was 78.1% in 2021.
- Openness has increased from 62.3% in 2001.
- High openness indicates Samoa's economy is heavily dependent on international trade.
FAQs
Q: What does this economic trend measure?
A: The Openness at constant prices for Samoa measures the relative importance of international trade to the Samoan economy, calculated as the sum of exports and imports divided by GDP.
Q: Why is this trend relevant for users or analysts?
A: Openness is a key indicator for economists and policymakers to assess a country's economic integration and exposure to global markets, which is crucial for evaluating trade policies and the impacts of external economic forces.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts statistics.
Q: How is this trend used in economic policy?
A: Openness is widely used to evaluate a country's trade policies and exposure to external economic forces, informing decisions on trade agreements, tariffs, and other policies affecting international commerce.
Q: Are there update delays or limitations?
A: The data is published regularly by the World Bank, but may have a lag of a year or more depending on data availability from national statistical agencies.
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Citation
U.S. Federal Reserve, Openness at constant prices for Samoa (OPENRPWSA156NUPN), retrieved from FRED.