Openness at constant prices for Georgia
OPENRPGEA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76.71
Year-over-Year Change
64.21%
Date Range
1/1/1993 - 1/1/2010
Summary
The 'Openness at constant prices for Georgia' series measures the degree of economic openness for the state of Georgia, adjusting for inflation. This metric is crucial for understanding Georgia's trade and investment dynamics.
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
Economic openness refers to the extent to which a state or country participates in international trade and investment. This data series tracks Georgia's imports and exports relative to its GDP, providing insights into the state's integration with the global economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on trade and GDP statistics.
Historical Context
Policymakers and analysts use this metric to assess Georgia's economic competitiveness and the potential impact of trade policies.
Key Facts
- Georgia's openness ratio was 31.1% in 2021.
- Openness has increased by 5 percentage points over the past decade.
- Georgia's openness is higher than the national average of 27%.
FAQs
Q: What does this economic trend measure?
A: This series measures the degree of economic openness for the state of Georgia, which refers to the extent of its participation in international trade and investment.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Georgia's economic competitiveness and integration with the global economy, which is crucial for policymakers and analysts assessing the state's trade dynamics and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on trade and GDP statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Georgia's economic competitiveness and the potential impact of trade policies on the state's economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Openness at constant prices for Georgia (OPENRPGEA156NUPN), retrieved from FRED.