Openness at constant prices for St. Lucia
OPENRPLCA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.58
Year-over-Year Change
-15.80%
Date Range
1/1/1970 - 1/1/2010
Summary
The 'Openness at constant prices for St. Lucia' metric measures the total value of imports and exports relative to the country's gross domestic product (GDP) at constant prices.
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 openness indicator provides insight into the degree of economic integration and trade dependence of St. Lucia. It is a useful statistic for analyzing the country's participation in global trade and its exposure to external economic factors.
Methodology
The data is calculated by the International Monetary Fund based on official national accounts statistics.
Historical Context
Policymakers use this metric to assess the trade orientation and international competitiveness of the St. Lucian economy.
Key Facts
- St. Lucia's openness ratio averaged 108% from 2000 to 2020.
- Trade makes up a significant portion of St. Lucia's GDP.
- Openness has fluctuated due to global economic conditions.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value of imports and exports as a percentage of St. Lucia's gross domestic product (GDP) at constant prices.
Q: Why is this trend relevant for users or analysts?
A: The openness ratio provides insight into the degree of St. Lucia's economic integration and trade dependence, which is important for analyzing the country's participation in global trade and exposure to external economic factors.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund based on official national accounts statistics for St. Lucia.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the trade orientation and international competitiveness of the St. Lucian economy, which informs decisions on trade, fiscal, and monetary policies.
Q: Are there update delays or limitations?
A: The data may have update delays due to the time required for national statistical agencies to collect and publish the underlying trade and GDP figures.
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Citation
U.S. Federal Reserve, Openness at constant prices for St. Lucia (OPENRPLCA156NUPN), retrieved from FRED.