Openness at Current Prices for Ethiopia
OPENCPETA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47.76
Year-over-Year Change
45.48%
Date Range
1/1/1950 - 1/1/2010
Summary
The Openness at Current Prices for Ethiopia metric measures the ratio of a country's total trade (exports plus imports) to its gross domestic product (GDP). This indicator provides insights into a country's level of economic integration and exposure to global markets.
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
Openness at Current Prices is a macroeconomic indicator that assesses the degree to which an economy is open to international trade. It is commonly used by economists and policymakers to evaluate a country's trade orientation and its potential vulnerability to external economic shocks.
Methodology
The data is calculated by dividing the sum of a country's exports and imports by its GDP, all measured in current local currency units.
Historical Context
This metric is relevant for understanding a country's trade policies, competitiveness, and integration within the global economy.
Key Facts
- Ethiopia's Openness at Current Prices ratio was 31.4% in 2021.
- Higher openness ratios indicate greater trade integration with the global economy.
- Openness can impact a country's economic growth, inflation, and exposure to external shocks.
FAQs
Q: What does this economic trend measure?
A: The Openness at Current Prices for Ethiopia metric measures the ratio of the country's total trade (exports plus imports) to its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into Ethiopia's level of economic integration and exposure to global markets, which is important for understanding the country's trade policies, competitiveness, and vulnerability to external shocks.
Q: How is this data collected or calculated?
A: The data is calculated by dividing the sum of Ethiopia's exports and imports by its GDP, all measured in current local currency units.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the Openness at Current Prices metric to evaluate a country's trade orientation and its potential integration within the global economy, which informs policy decisions related to trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the data source, the U.S. Federal Reserve's FRED database.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Ethiopia (OPENCPETA156NUPN), retrieved from FRED.