Openness at constant prices for Belarus
OPENRPBYA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.80
Year-over-Year Change
-0.67%
Date Range
1/1/1994 - 1/1/2010
Summary
The 'Openness at constant prices for Belarus' metric measures the degree of integration of the Belarusian economy with global trade. It is an important indicator for economists and policymakers to assess the country's economic performance and exposure to international market forces.
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 trend represents the sum of exports and imports of goods and services expressed as a percentage of GDP in Belarus, adjusted for inflation. It provides insight into the overall trade openness and integration of the Belarusian economy with the global marketplace.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments data reported by the government of Belarus.
Historical Context
This metric is closely monitored by policymakers and investors to gauge Belarus' economic policies, competitiveness, and exposure to external shocks.
Key Facts
- Belarus' trade openness reached a peak of 127% of GDP in 2012.
- Trade accounts for over 100% of Belarus' GDP, indicating a high degree of economic integration.
- Belarus has sought to diversify its trade partners beyond traditional Russian and European Union markets.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Belarus' metric measures the total value of exports and imports of goods and services in Belarus as a percentage of its GDP, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the degree of Belarus' economic integration with global trade, which is a key factor in assessing the country's economic performance, competitiveness, and exposure to external shocks.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments data reported by the government of Belarus.
Q: How is this trend used in economic policy?
A: Policymakers and investors closely monitor Belarus' trade openness to gauge the country's economic policies, competitiveness, and integration with the global marketplace, which inform decisions on trade, investment, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a potential delay of up to 2 years in the most recent values being available.
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Citation
U.S. Federal Reserve, Openness at constant prices for Belarus (OPENRPBYA156NUPN), retrieved from FRED.