Openness at Current Prices for India
OPENCPINA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46.22
Year-over-Year Change
89.46%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at Current Prices for India' measures the ratio of total trade (imports plus exports) to India's gross domestic product (GDP). It provides insight into India's economic integration and dependence on international trade.
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 metric represents the degree to which the Indian economy is open to global trade. It is a key indicator used by economists and policymakers to assess the impact of trade policies, exchange rate dynamics, and globalization on India's economic performance.
Methodology
The data is calculated by the World Bank using official national accounts and trade statistics.
Historical Context
Openness is a critical factor in evaluating India's macroeconomic and policy environment, including competitiveness, investment, and the potential impact of external shocks.
Key Facts
- India's openness ratio has increased from 24% in 2000 to 40% in 2020.
- Trade openness is positively correlated with India's GDP per capita growth.
- Rapid growth in India's exports and imports has outpaced domestic GDP in recent decades.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for India' measures the ratio of total trade (imports plus exports) to India's gross domestic product (GDP), providing insight into the country's economic integration and dependence on international trade.
Q: Why is this trend relevant for users or analysts?
A: This metric is a critical indicator used by economists and policymakers to assess the impact of trade policies, exchange rate dynamics, and globalization on India's economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Openness is a key factor in evaluating India's macroeconomic and policy environment, including its impact on investment, competitiveness, and the potential effects of external shocks.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions as underlying trade and GDP data are updated.
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Citation
U.S. Federal Reserve, Openness at Current Prices for India (OPENCPINA156NUPN), retrieved from FRED.