Openness at constant prices for Senegal
OPENRPSNA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.31
Year-over-Year Change
-3.03%
Date Range
1/1/1960 - 1/1/2010
Summary
The 'Openness at constant prices for Senegal' indicator measures Senegal's trade openness, or the sum of imports and exports as a percentage of GDP, adjusted for inflation.
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 provides insight into Senegal's economic integration and exposure to global trade. It is a widely used gauge of a country's trade orientation and can inform policy decisions related to tariffs, exchange rates, and international competitiveness.
Methodology
The data is calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Policymakers and analysts track this metric to assess Senegal's trade dynamics and the potential impacts of trade policy changes.
Key Facts
- Senegal's trade openness ratio was 51.7% in 2021.
- Trade openness has increased from 36.3% in 1970.
- Senegal's main exports are fish, groundnuts, and phosphates.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Senegal' indicator measures the size of Senegal's international trade relative to its overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Senegal's economic integration and exposure to global trade, which is important for assessing competitiveness, trade policy impacts, and macroeconomic performance.
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 and analysts track this metric to assess Senegal's trade dynamics and the potential impacts of trade policy changes, such as tariffs or exchange rate adjustments.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in reflecting the most recent economic conditions.
Related Trends
Openness at Current Prices for Albania
OPENCPALA156NUPN
Openness at Current Prices for Solomon Islands
OPENCPSBA156NUPN
Openness at constant prices for New Zealand
OPENRPNZA156NUPN
Openness at Current Prices for Zimbabwe
OPENCPZWA156NUPN
Openness at Current Prices for Madagascar
OPENCPMGA156NUPN
Openness at constant prices for Benin
OPENRPBJA156NUPN
Citation
U.S. Federal Reserve, Openness at constant prices for Senegal (OPENRPSNA156NUPN), retrieved from FRED.