Openness at Current Prices for Cameroon
OPENCPCMA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.97
Year-over-Year Change
2.13%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at Current Prices for Cameroon' metric measures the degree of integration between Cameroon's economy and the global economy. It is a key indicator for economists and policymakers analyzing a country's trade and economic performance.
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 sum of Cameroon's exports and imports of goods and services as a percentage of its gross domestic product (GDP). It provides insight into the extent to which Cameroon's economy is open to international trade and investment.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
This openness metric is widely used by economists, investors, and policymakers to assess a country's trade orientation and vulnerability to external economic shocks.
Key Facts
- Cameroon's openness ratio averaged 36% from 2010-2020.
- Higher openness can indicate greater economic efficiency but also vulnerability to external shocks.
- Openness has increased in Cameroon over the past two decades as the economy has become more integrated globally.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Cameroon' metric measures the degree of integration between Cameroon's economy and the global economy by calculating the sum of exports and imports as a percentage of GDP.
Q: Why is this trend relevant for users or analysts?
A: This openness metric provides insight into Cameroon's trade orientation and vulnerability to external economic shocks, which is crucial information for economists, investors, and policymakers.
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: The openness metric is widely used by economists and policymakers to assess a country's trade orientation and integration with the global economy, which informs decisions around trade policy, investment, and macroeconomic management.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in the underlying data sources, but the World Bank's methodology is well-established and provides a reliable measure of Cameroon's economic openness.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Cameroon (OPENCPCMA156NUPN), retrieved from FRED.