Openness at constant prices for South Africa
OPENRPZAA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51.19
Year-over-Year Change
-3.79%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Openness at constant prices for South Africa' measures the ratio of a country's total trade (imports plus exports) to its gross domestic product (GDP) adjusted for inflation. This metric provides insights into a nation's economic integration and trade orientation.
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
The openness metric represents the degree to which a country's economy is engaged in international trade. It is a commonly used indicator to assess the economic policy orientation and trade exposure of a nation over time.
Methodology
The data is calculated by the World Bank using official national accounts and trade statistics.
Historical Context
Policymakers and economists use openness data to evaluate the trade and globalization policies of a country.
Key Facts
- South Africa's openness ratio was 58.3% in 2020.
- Openness has increased from 46.4% in 1990 to 58.3% in 2020.
- Highly open economies tend to have ratios over 60%.
FAQs
Q: What does this economic trend measure?
A: The 'Openness at constant prices for South Africa' metric measures the ratio of a country'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: The openness ratio provides insights into a nation's level of economic integration and trade orientation, which is important for evaluating trade policies and a country's exposure to global economic conditions.
Q: How is this data collected or calculated?
A: The World Bank calculates the openness ratio using official national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use openness data to assess a country's trade and globalization policies, as well as its exposure to international economic conditions.
Q: Are there update delays or limitations?
A: The openness data may have update lags of 1-2 years due to the time required to collect and process the underlying national accounts and trade statistics.
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Citation
U.S. Federal Reserve, Openness at constant prices for South Africa (OPENRPZAA156NUPN), retrieved from FRED.