Openness at Current Prices for Samoa
OPENCPWSA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
83.84
Year-over-Year Change
-4.89%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at Current Prices for Samoa' series measures the degree of economic openness for Samoa by calculating the ratio of the sum of exports and imports to GDP at current market prices.
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 provides insight into Samoa's integration with the global economy and exposure to international trade and capital flows. Economists and policymakers use this indicator to assess economic performance, competitiveness, and vulnerability to external shocks.
Methodology
The data is calculated by the IMF based on official national accounts statistics.
Historical Context
Openness metrics help inform fiscal, monetary, and trade policies aimed at promoting economic growth and stability.
Key Facts
- Samoa's openness ratio averaged around 90% from 2010-2019.
- Openness is a key indicator of small island developing states' economic vulnerability.
- High openness can expose economies to external shocks and exchange rate fluctuations.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Samoa' series measures the ratio of Samoa's total exports and imports to its gross domestic product at current market prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Samoa's level of global economic integration and exposure to international trade and capital flows, which is crucial for assessing economic performance, competitiveness, and vulnerability to external shocks.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund (IMF) based on official national accounts statistics.
Q: How is this trend used in economic policy?
A: Openness metrics like this one help inform fiscal, monetary, and trade policies aimed at promoting economic growth and stability in Samoa and other small island developing states.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be delays in accessing the most recent figures. Additionally, the metric may not capture all informal or unrecorded trade activities.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Samoa (OPENCPWSA156NUPN), retrieved from FRED.