Total Factor Productivity at Constant National Prices for Jamaica
RTFPNAJMA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.99
Year-over-Year Change
-5.03%
Date Range
1/1/1957 - 1/1/2019
Summary
Total Factor Productivity (TFP) at Constant National Prices for Jamaica measures the overall efficiency of the Jamaican economy in transforming inputs into outputs. It is a key indicator for economists and policymakers in understanding long-term economic growth.
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
Total Factor Productivity (TFP) represents the portion of economic output not explained by the amount of inputs used in production. It is a comprehensive measure of technological change, efficiency improvements, and other factors that contribute to economic growth beyond capital and labor.
Methodology
The data is calculated by the U.S. Federal Reserve using a growth accounting framework.
Historical Context
TFP is widely used by economists and policymakers to analyze sources of economic growth and inform policy decisions.
Key Facts
- TFP in Jamaica averaged 90.36 from 1951 to 2017.
- TFP reached an all-time high of 101.24 in 1973.
- TFP declined by 10.9% from its peak in 1973 to 2017.
FAQs
Q: What does this economic trend measure?
A: The Total Factor Productivity (TFP) at Constant National Prices for Jamaica measures the overall efficiency and technological progress of the Jamaican economy.
Q: Why is this trend relevant for users or analysts?
A: TFP is a key indicator for understanding the sources of long-term economic growth in Jamaica, which is crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using a growth accounting framework.
Q: How is this trend used in economic policy?
A: TFP is widely used by economists and policymakers to analyze sources of economic growth and inform policy decisions in Jamaica.
Q: Are there update delays or limitations?
A: The data is published with some delay, and may have limitations in capturing all factors contributing to economic efficiency.
Related Trends
Real GDP at Constant National Prices for Sao Tome and Principe
RGDPNASTA666NRUG
Share of Labour Compensation in GDP at Current National Prices for Botswana
LABSHPBWA156NRUG
Capital Stock at Constant National Prices for Tunisia
RKNANPTNA666NRUG
Real GDP at Constant National Prices for Jordan
RGDPNAJOA666NRUG
Capital Stock at Constant National Prices for Sweden
RKNANPSEA666NRUG
Capital Stock at Constant National Prices for Kenya
RKNANPKEA666NRUG
Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Jamaica (RTFPNAJMA632NRUG), retrieved from FRED.