Grenada: Financial openness
* indicates monthly or quarterly data series
| Grenada |
Financial openness index |
|---|---|
| Latest value | -1.242 |
| Year | 2021 |
| Measure | index points |
| Data availability | 1979 - 2021 |
| Average | -1.366 |
| Min - Max | -1.931 - -0.166 |
| Source | Chinn-Ito Index |
The latest value from 2021 is -1.242 index points, unchanged from -1.242 index points in 2020. In comparison, the world average is 0.322 index points, based on data from 176 countries. Historically, the average for Grenada from 1979 to 2021 is -1.366 index points. The minimum value, -1.931 index points, was reached in 1979 while the maximum of -0.166 index points was recorded in 1993.
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Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 86.09 | 2021 | percent |
| Financial openness | -1.242 | 2021 | index points |
| Foreign Direct Investment, percent of GDP | 12.41 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 0.16 | 2023 | billion U.S. dollars |
| Portfolio investment inflows, equities | 0.00 | 2023 | million dollars (current) |
| Current account, percent of GDP | -11.02 | 2022 | percent |
| Current account, in dollars | -0.18 | 2023 | billion U.S. dollars |
| Trade balance, in dollars | -0.12 | 2023 | billion U.S. dollars |
| Reserves | 0.40 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 3.74 | 2023 | percent |
| Remittances | 49.32 | 2023 | million U.S. dollars |
| Net errors and omissions | -18.97 | 2023 | million USD |
| External debt | 60.32 | 2022 | percent |
| Short-term external debt | 7.60 | 2023 | percent |
| Short-term debt to reserves | 13.68 | 2023 | percent |