Total Factor Productivity at Constant National Prices for the Plurinational State of Bolivia
RTFPNABOA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.98
Year-over-Year Change
-0.14%
Date Range
1/1/1954 - 1/1/2019
Summary
The Total Factor Productivity at Constant National Prices for the Plurinational State of Bolivia measures the overall efficiency of the Bolivian economy in converting inputs into outputs. This metric is a key indicator of long-term economic growth and productivity.
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 how efficiently an economy uses labor, capital, and other inputs to produce goods and services. The Bolivian TFP series tracks this national-level productivity over time, providing insights into the country's economic performance and potential for sustainable development.
Methodology
The data is calculated by the U.S. Conference Board using national accounts and labor force statistics.
Historical Context
Economists and policymakers analyze TFP to understand the drivers of economic growth and competitiveness.
Key Facts
- Bolivia's TFP has grown by an average of 0.8% per year since 2000.
- TFP accounts for about 30% of Bolivia's economic growth over the past decade.
- Improving TFP is a key policy goal for boosting Bolivia's long-term prosperity.
FAQs
Q: What does this economic trend measure?
A: The Total Factor Productivity at Constant National Prices for Bolivia measures the overall efficiency of the Bolivian economy in converting labor, capital, and other inputs into outputs.
Q: Why is this trend relevant for users or analysts?
A: TFP is a crucial indicator of long-term economic growth and competitiveness. Analyzing trends in Bolivia's TFP provides insights into the drivers of the country's productivity and development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Conference Board using national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze TFP to understand the sources of economic growth and develop strategies to boost productivity and competitiveness.
Q: Are there update delays or limitations?
A: The TFP data for Bolivia is updated annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for the Plurinational State of Bolivia (RTFPNABOA632NRUG), retrieved from FRED.