Openness at Current Prices for Lithuania
OPENCPLTA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.79
Year-over-Year Change
35.58%
Date Range
1/1/1993 - 1/1/2010
Summary
The Openness at Current Prices for Lithuania metric measures the degree of international trade and economic integration in the Lithuanian economy. It is a key indicator used by economists and policymakers to assess a country's global economic engagement.
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 at Current Prices metric represents the sum of exports and imports of goods and services as a percentage of a country's gross domestic product (GDP). It provides insight into how open and trade-dependent a nation's economy is.
Methodology
This data is collected and calculated by the OECD using national accounts statistics.
Historical Context
Policymakers analyze openness trends to guide trade, fiscal, and monetary policies.
Key Facts
- Lithuania's openness ratio was 148.7% in 2021.
- Openness has increased significantly since Lithuania joined the EU in 2004.
- Higher openness is linked to greater economic growth but also greater vulnerability to external shocks.
FAQs
Q: What does this economic trend measure?
A: The Openness at Current Prices for Lithuania metric measures the degree of international trade and economic integration in the Lithuanian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into how open and trade-dependent Lithuania's economy is, which is a key factor for economists and policymakers in assessing economic performance and guiding policies.
Q: How is this data collected or calculated?
A: This data is collected and calculated by the OECD using national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers analyze openness trends to guide trade, fiscal, and monetary policies that influence a country's global economic integration and resilience.
Q: Are there update delays or limitations?
A: This 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 Current Prices for Lithuania (OPENCPLTA156NUPN), retrieved from FRED.