Openness at Current Prices for Thailand
OPENCPTHA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.03
Year-over-Year Change
34.60%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at Current Prices for Thailand' metric measures the degree of economic integration between Thailand and the global economy. It is a key indicator used by economists and policymakers to assess Thailand's participation in international trade and financial flows.
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 calculates the sum of Thailand's exports and imports of goods and services as a percentage of its gross domestic product (GDP). It provides insight into how open and globally connected the Thai economy is, which has implications for economic growth, competitiveness, and vulnerability to external shocks.
Methodology
The data is calculated by the World Bank using official government statistics on Thailand's imports, exports, and GDP.
Historical Context
Policymakers and analysts monitor Thailand's openness ratio to gauge the effectiveness of trade and investment policies, as well as the economy's resilience to global economic conditions.
Key Facts
- Thailand's openness ratio averaged 120% from 2010-2020.
- Openness reached a high of 131% in 2012 during a period of strong export growth.
- The COVID-19 pandemic caused Thailand's openness ratio to decline to 113% in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Thailand' metric measures the degree to which the Thai economy is integrated with the global economy, as reflected by the sum of its exports and imports relative to GDP.
Q: Why is this trend relevant for users or analysts?
A: This openness metric is a key indicator used by economists and policymakers to assess Thailand's participation in international trade and financial flows, which has implications for economic growth, competitiveness, and vulnerability to external shocks.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official government statistics on Thailand's imports, exports, and gross domestic product.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor Thailand's openness ratio to gauge the effectiveness of trade and investment policies, as well as the economy's resilience to global economic conditions.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological changes of the World Bank, which serves as the primary source.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Thailand (OPENCPTHA156NUPN), retrieved from FRED.