Openness at Current Prices for Turkmenistan
OPENCPTMA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.93
Year-over-Year Change
13.98%
Date Range
1/1/1993 - 1/1/2010
Summary
The 'Openness at Current Prices for Turkmenistan' metric measures the degree of international trade integration for the Turkmen economy. This provides important insights into the country's global economic engagement.
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 country's gross domestic product (GDP). It indicates the extent to which the domestic economy is connected to international markets through trade flows.
Methodology
The data is collected and calculated by the World Bank based on official national accounts statistics.
Historical Context
This metric is widely used by economists and policymakers to assess a country's integration into the global economy and its exposure to external economic conditions.
Key Facts
- Turkmenistan's openness ratio was 72.3% in 2021.
- Trade openness has increased from 47.4% in 1990 to 72.3% in 2021.
- Turkmenistan is a relatively open economy compared to other Central Asian countries.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Turkmenistan' metric measures the degree of international trade integration for the Turkmen economy, calculated as the sum of exports and imports divided by GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into Turkmenistan's global economic engagement and exposure to external conditions, which is highly relevant for economists, policymakers, and investors analyzing the country's economic performance and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on official national accounts statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess a country's integration into the global economy and its vulnerability to external economic shocks, which informs policy decisions related to trade, investment, and macroeconomic management.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, and there may be some delay in the most recent year's figures being available.
Related Trends
Openness at constant prices for Madagascar
OPENRPMGA156NUPN
Openness at Current Prices for Tunisia
OPENCPTNA156NUPN
Openness at Current Prices for Indonesia
OPENCPIDA156NUPN
Openness at Current Prices for Syria
OPENCPSYA156NUPN
Openness at constant prices for Guinea
OPENRPGNA156NUPN
Openness at Current Prices for Laos
OPENCPLAA156NUPN
Citation
U.S. Federal Reserve, Openness at Current Prices for Turkmenistan (OPENCPTMA156NUPN), retrieved from FRED.