Openness at constant prices for Dominican Republic
OPENRPDOA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51.71
Year-over-Year Change
-29.50%
Date Range
1/1/1951 - 1/1/2010
Summary
The 'Openness at constant prices for Dominican Republic' measures the degree of integration of the Dominican Republic's economy with the global market. It is a key indicator for economists and policymakers assessing the country's trade and competitiveness.
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 represents the sum of exports and imports of goods and services in the Dominican Republic, expressed as a percentage of its gross domestic product (GDP) at constant prices. It provides insight into the relative size and openness of the country's economy.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Openness is widely used to evaluate a country's trade policy, economic growth, and integration with the global economy.
Key Facts
- The openness ratio for the Dominican Republic was 57.3% in 2021.
- Openness has increased from 42.3% in 2000 to 57.3% in 2021.
- The Dominican Republic is considered a moderately open economy.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the degree of integration of the Dominican Republic's economy with the global market by calculating the sum of exports and imports as a percentage of its GDP.
Q: Why is this trend relevant for users or analysts?
A: Openness is a key metric for assessing a country's trade policy, economic growth, and integration with the global economy, making it relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Openness is widely used to evaluate a country's trade policy and integration with the global economy, informing decisions on tariffs, trade agreements, and other economic policies.
Q: Are there update delays or limitations?
A: The World Bank updates this data annually, and there may be some delays in the most recent year's availability.
Related Trends
Openness at Current Prices for Dominica
OPENCPDMA156NUPN
Openness at constant prices for Latvia
OPENRPLVA156NUPN
Openness at constant prices for Haiti
OPENRPHTA156NUPN
Openness at constant prices for St.Vincent and Grenadines
OPENRPVCA156NUPN
Openness at constant prices for Libya
OPENRPLYA156NUPN
Openness at Current Prices for Nepal
OPENCPNPA156NUPN
Citation
U.S. Federal Reserve, Openness at constant prices for Dominican Republic (OPENRPDOA156NUPN), retrieved from FRED.