Openness at constant prices for Uganda
OPENRPUGA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46.01
Year-over-Year Change
35.13%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for Uganda' series measures the degree of economic openness in Uganda, a key indicator for trade and investment analysis.
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 represents the ratio of a country's total trade (imports plus exports) to its gross domestic product (GDP), adjusted for inflation. It provides insights into the relative importance of international trade to Uganda's economy.
Methodology
The data is calculated by the World Bank using national accounts and trade statistics.
Historical Context
Openness is a widely used economic indicator that informs policymakers and investors about a country's trade orientation and integration with the global economy.
Key Facts
- Uganda's openness ratio was 42.4% in 2020.
- Openness has increased from 25.3% in 1980 to 42.4% in 2020.
- Higher openness is associated with greater economic development and integration.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for Uganda' series measures the ratio of Uganda's total trade (imports plus exports) to its gross domestic product (GDP), adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Openness is a key indicator of a country's trade orientation and integration with the global economy, which is important for understanding economic growth, competitiveness, and policy considerations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the openness ratio to assess a country's trade orientation, competitiveness, and integration with the global economy, which informs decisions around trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: The data is subject to update delays, as it relies on national accounts and trade statistics that may not be immediately available.
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Citation
U.S. Federal Reserve, Openness at constant prices for Uganda (OPENRPUGA156NUPN), retrieved from FRED.