Openness at constant prices for United States
OPENRPUSA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.20
Year-over-Year Change
26.96%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for United States' measures the degree of openness of the U.S. economy, capturing the level of international trade activity relative to the overall 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 trend provides an indicator of the importance of international trade and globalization within the U.S. economy. It is used by economists and policymakers to analyze the evolving role of trade and its impact on domestic production, employment, and economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national accounts data.
Historical Context
This metric helps inform trade, fiscal, and monetary policies that aim to optimize the benefits and mitigate the risks of economic openness.
Key Facts
- Openness ratio reached a record high of 29.4% in 2021.
- Trade as a percentage of GDP has doubled since the 1980s.
- Openness varies significantly across industries and regions within the U.S.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for United States' measures the ratio of international trade (exports plus imports) to gross domestic product (GDP) in the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the degree of integration and interdependence of the U.S. economy with global markets, which is a key factor for assessing the economy's growth potential, competitiveness, and exposure to external shocks.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national accounts data on exports, imports, and GDP.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to inform trade, fiscal, and monetary policies that aim to optimize the benefits and mitigate the risks of economic openness for the U.S.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Openness at constant prices for United States (OPENRPUSA156NUPN), retrieved from FRED.