Openness at constant prices for Guinea
OPENRPGNA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.00
Year-over-Year Change
76.10%
Date Range
1/1/1959 - 1/1/2010
Summary
The 'Openness at constant prices for Guinea' series measures the level of economic openness in Guinea, which is an important indicator of trade and integration with the global 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 calculates the sum of exports and imports of goods and services in Guinea, divided by the country's GDP, all at constant prices. It provides insight into the degree to which Guinea's economy is engaged in international trade and commerce.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
This openness metric is closely watched by policymakers, economists, and investors to gauge Guinea's economic health and growth potential.
Key Facts
- Guinea is a West African country rich in natural resources.
- Openness to trade has fluctuated between 30-50% of GDP in recent decades.
- Higher openness is associated with greater economic growth and development.
FAQs
Q: What does this economic trend measure?
A: This series measures the level of openness in Guinea's economy by calculating the ratio of total exports and imports to GDP, all at constant prices.
Q: Why is this trend relevant for users or analysts?
A: The openness metric provides insight into Guinea's integration with the global economy and is an important indicator of trade, competitiveness, and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors closely monitor Guinea's openness as it reflects the health of the country's external sector and its ability to participate in international trade and commerce.
Q: Are there update delays or limitations?
A: The openness data may have some delays in reporting due to the time required to collect and compile the underlying national accounts and trade statistics.
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Citation
U.S. Federal Reserve, Openness at constant prices for Guinea (OPENRPGNA156NUPN), retrieved from FRED.