Openness at Current Prices for Zambia
OPENCPZMA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82.60
Year-over-Year Change
25.37%
Date Range
1/1/1955 - 1/1/2010
Summary
The 'Openness at Current Prices for Zambia' indicator measures the degree of trade openness in the Zambian economy, capturing the importance of international trade relative to the overall size of the economy.
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 represents the sum of Zambia's imports and exports of goods and services as a percentage of its gross domestic product (GDP). It provides insight into the extent to which the Zambian economy is integrated with global trade and supply chains.
Methodology
The data is compiled by the World Bank from official government sources and national accounts statistics.
Historical Context
Policymakers and analysts use this indicator to assess Zambia's economic openness and integration with the global economy.
Key Facts
- Zambia's trade openness ratio was 58.4% in 2020.
- Trade openness has increased in Zambia over the past decade.
- Copper exports are a major component of Zambia's international trade.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at Current Prices for Zambia' indicator measures the degree of trade openness in the Zambian economy by calculating the sum of imports and exports as a percentage of GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the extent to which the Zambian economy is integrated with global trade and supply chains, which is relevant for policymakers and analysts assessing Zambia's economic performance and development.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank from official government sources and national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess Zambia's economic openness and integration with the global economy, which can inform trade, investment, and macroeconomic policies.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting and updates, as the information is derived from official government sources and national accounts.
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Citation
U.S. Federal Reserve, Openness at Current Prices for Zambia (OPENCPZMA156NUPN), retrieved from FRED.