Openness at constant prices for Spain
OPENRPESA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.15
Year-over-Year Change
20.54%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for Spain' economic trend measures the degree of a country's trade integration and engagement with the global economy. It is a key indicator for economists and policymakers analyzing a nation's economic performance and competitiveness.
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 indicator represents Spain's openness to trade, calculated as the sum of exports and imports of goods and services as a percentage of GDP at constant prices. It provides insight into the scale and direction of a country's international trade and economic integration.
Methodology
The data is collected and calculated by the OECD using national accounts information.
Historical Context
Trends in a country's trade openness are closely monitored by economic analysts, policymakers, and investors to assess economic health and competitiveness.
Key Facts
- Spain's trade openness ratio reached a high of 69.4% in 2008.
- Trade openness declined during the 2008-2009 global financial crisis.
- Maintaining an open, globally-integrated economy is a key policy goal for Spain.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Spain' indicator measures the degree of Spain's trade integration and engagement with the global economy, calculated as the ratio of total exports and imports to GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into Spain's economic competitiveness, integration with global markets, and exposure to international trade flows - all critical factors for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The OECD collects and calculates this indicator using national accounts data on Spain's exports, imports, and GDP.
Q: How is this trend used in economic policy?
A: Trends in Spain's trade openness are closely monitored by policymakers, as maintaining an open, globally-integrated economy is a key policy objective. This indicator informs trade, macroeconomic, and competitiveness policies.
Q: Are there update delays or limitations?
A: The OECD publishes this data with a lag of several months. The indicator may also be subject to revisions as more complete national accounts data becomes available.
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Citation
U.S. Federal Reserve, Openness at constant prices for Spain (OPENRPESA156NUPN), retrieved from FRED.