Openness at Current Prices for Paraguay
OPENCPPYA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.21
Year-over-Year Change
0.24%
Date Range
1/1/1951 - 1/1/2010
Summary
The 'Openness at Current Prices for Paraguay' metric measures the degree of trade integration in the Paraguayan economy. It is an important indicator for economists and policymakers assessing the country's economic openness 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 calculated as the sum of exports and imports of goods and services divided by the gross domestic product (GDP) of Paraguay. This ratio provides insight into the overall economic integration and trade dependency of the country.
Methodology
The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
This metric is widely used by economists, policymakers, and investors to gauge Paraguay's economic orientation and susceptibility to external economic conditions.
Key Facts
- Paraguay's Openness at Current Prices was 59.7% in 2021.
- The metric has increased from 47.4% in 2010, indicating greater trade integration.
- Openness is influenced by factors like tariff policies, exchange rates, and global demand.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Paraguay' metric measures the degree of trade integration in the Paraguayan economy, calculated as the ratio of total exports and imports to GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Paraguay's economic orientation and exposure to global markets, which is crucial for economists, policymakers, and investors analyzing the country's economic performance and susceptibility to external conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers in Paraguay and international institutions use this metric to assess the country's trade integration, formulate policies that promote or regulate foreign trade, and evaluate the impact of economic shocks on the domestic economy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Paraguay (OPENCPPYA156NUPN), retrieved from FRED.