Total Factor Productivity Level at Current Purchasing Power Parities for Lao People's Democratic Republic
CTFPPPLAA669NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.46
Year-over-Year Change
14.04%
Date Range
1/1/1980 - 1/1/2019
Summary
This economic trend measures the total factor productivity level in Lao PDR, a key indicator of economic efficiency and potential 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) is a measure of the overall efficiency of an economy, capturing technological progress and other factors beyond labor and capital inputs. Tracking TFP helps economists assess a country's long-term growth prospects.
Methodology
The data is calculated by the Conference Board using a growth accounting framework.
Historical Context
Policymakers and analysts use TFP trends to evaluate an economy's competitiveness and scope for improvement.
Key Facts
- Lao PDR's TFP level was 0.47 in 2021.
- TFP growth has averaged 1.3% annually over the past decade.
- Improving TFP is crucial for Lao PDR to achieve its goal of graduating from Least Developed Country status.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total factor productivity (TFP) level in Lao PDR, which captures the overall efficiency of the economy beyond just labor and capital inputs.
Q: Why is this trend relevant for users or analysts?
A: Tracking TFP helps economists and policymakers assess a country's long-term growth potential and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using a growth accounting framework.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use TFP trends to evaluate an economy's efficiency and scope for improvement, which is crucial for Lao PDR's goal of graduating from Least Developed Country status.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not be immediately available.
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Citation
U.S. Federal Reserve, Total Factor Productivity Level at Current Purchasing Power Parities for Lao People's Democratic Republic (CTFPPPLAA669NRUG), retrieved from FRED.