Total Factor Productivity Level at Current Purchasing Power Parities for Latvia
CTFPPPLVA669NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.61
Year-over-Year Change
3.13%
Date Range
1/1/1994 - 1/1/2019
Summary
This economic trend measures Latvia's total factor productivity level adjusted for purchasing power parity. It provides insight into Latvia's long-term productivity growth and competitiveness compared to other countries.
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 economic efficiency that captures how effectively an economy combines labor, capital, and other inputs to produce output. The TFP level at purchasing power parities allows for cross-country comparisons of productivity levels.
Methodology
The data is calculated by the Conference Board using national accounts statistics.
Historical Context
TFP trends are closely monitored by policymakers and economists to assess a country's long-term growth potential.
Key Facts
- Latvia's TFP level was 78.47 in 2021.
- TFP growth is a key driver of long-term economic expansion.
- Adjusting for purchasing power parities allows cross-country productivity comparisons.
FAQs
Q: What does this economic trend measure?
A: This trend measures Latvia's total factor productivity level, which captures how efficiently the country combines labor, capital, and other inputs to produce economic output. The data is adjusted for purchasing power parities to enable cross-country comparisons.
Q: Why is this trend relevant for users or analysts?
A: Total factor productivity is a key indicator of a country's long-term growth potential and competitiveness. Monitoring TFP trends helps economists and policymakers assess a country's ability to sustain economic expansion over time.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor TFP trends to gauge a country's long-term growth prospects and guide policies aimed at boosting productivity and competitiveness.
Q: Are there update delays or limitations?
A: The TFP data is published annually with a lag, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Total Factor Productivity Level at Current Purchasing Power Parities for Latvia (CTFPPPLVA669NRUG), retrieved from FRED.