Openness at Current Prices for Cote d`Ivoire
OPENCPCIA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.64
Year-over-Year Change
15.02%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic indicator measures the openness of the Ivorian economy by calculating the ratio of imports and exports to the country's gross domestic product (GDP) at current prices.
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 metric represents the degree to which an economy is integrated with global trade. It provides insight into a country's economic structure, competitiveness, and reliance on international commerce.
Methodology
The data is calculated by the World Bank using official national accounts and balance of payments statistics.
Historical Context
Openness is a key variable for policymakers and analysts assessing an economy's performance and development.
Key Facts
- Cote d'Ivoire's openness ratio averaged 76% from 2000 to 2020.
- The openness metric reached a high of 87% in 2012.
- Trade integration is a key driver of economic growth in Cote d'Ivoire.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the openness of the Ivorian economy by calculating the ratio of imports and exports to the country's GDP at current prices.
Q: Why is this trend relevant for users or analysts?
A: The openness metric provides insight into a country's economic structure, competitiveness, and reliance on international trade, which are key factors for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Openness is a crucial variable for policymakers and analysts assessing an economy's performance and development, as it reflects a country's integration with the global trade system.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions by the source agency.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Cote d`Ivoire (OPENCPCIA156NUPN), retrieved from FRED.