Total Factor Productivity Level at Current Purchasing Power Parities for Colombia
CTFPPPCOA669NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.65
Year-over-Year Change
16.38%
Date Range
1/1/1954 - 1/1/2019
Summary
This economic trend measures the total factor productivity level in Colombia, which is a key indicator of a country's economic efficiency and technological progress.
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) is a measure of the overall productivity of an economy, taking into account both labor and capital inputs. This metric provides insights into a country's technological advancement and the efficiency of its production processes.
Methodology
The data is calculated by the Conference Board based on national accounts and labor force data.
Historical Context
TFP is widely used by economists and policymakers to analyze a country's economic growth and competitiveness.
Key Facts
- Colombia's TFP level has increased by 23% since 2000.
- TFP growth is a key driver of long-term economic development.
- Colombia's TFP level is below the global average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total factor productivity level in Colombia, which is an indicator of the country's overall economic efficiency and technological progress.
Q: Why is this trend relevant for users or analysts?
A: TFP is a crucial metric for economists and policymakers to assess a country's competitiveness, economic growth potential, and the effectiveness of its production processes.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board based on national accounts and labor force data.
Q: How is this trend used in economic policy?
A: Policymakers use TFP data to evaluate a country's economic performance, identify areas for improvement, and inform policy decisions aimed at boosting productivity and competitiveness.
Q: Are there update delays or limitations?
A: The TFP data for Colombia is published annually, and there may be a delay of several months between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Total Factor Productivity Level at Current Purchasing Power Parities for Colombia (CTFPPPCOA669NRUG), retrieved from FRED.