Openness at constant prices for New Zealand
OPENRPNZA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56.68
Year-over-Year Change
12.88%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for New Zealand' series measures the relative openness of the New Zealand economy to international trade, adjusting for price changes over time.
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 tracks the ratio of the sum of exports and imports to gross domestic product (GDP) in New Zealand, using constant prices to account for inflation. It provides insight into the degree of economic integration and the importance of trade to the national economy.
Methodology
The data is calculated by the OECD using national accounts and trade statistics.
Historical Context
Economists and policymakers monitor this indicator to assess New Zealand's trade dependence and exposure to global economic conditions.
Key Facts
- New Zealand's economy is highly dependent on international trade.
- The openness ratio has fluctuated between 50-60% of GDP in recent decades.
- Trade liberalization has been a key policy objective for New Zealand.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the relative openness of the New Zealand economy to international trade, adjusting for price changes over time.
Q: Why is this trend relevant for users or analysts?
A: Monitoring the degree of economic openness provides insights into New Zealand's trade dependence and exposure to global economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this indicator to assess New Zealand's trade dependence and shape policies related to international economic integration.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and data availability of the OECD.
Related Trends
Openness at Current Prices for Brunei
OPENCPBNA156NUPN
Openness at Current Prices for Ecuador
OPENCPECA156NUPN
Openness at Current Prices for Kenya
OPENCPKEA156NUPN
Openness at constant prices for Syria
OPENRPSYA156NUPN
Openness at constant prices for Kiribati
OPENRPKIA156NUPN
Openness at constant prices for Guinea
OPENRPGNA156NUPN
Citation
U.S. Federal Reserve, Openness at constant prices for New Zealand (OPENRPNZA156NUPN), retrieved from FRED.