Total Factor Productivity at Constant National Prices for Cyprus
RTFPNACYA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.02
Year-over-Year Change
-6.37%
Date Range
1/1/1954 - 1/1/2019
Summary
Total Factor Productivity (TFP) at Constant National Prices for Cyprus measures the overall efficiency of a country's production processes. It's a key indicator of long-term economic growth and competitiveness.
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 an economic measure that captures the contribution of technological progress, efficient allocation of resources, and other factors to a country's economic output beyond the direct inputs of labor and capital. It provides insight into the quality and dynamism of a nation's production capabilities.
Methodology
The data is calculated by the Federal Reserve based on national accounts and production data.
Historical Context
Policymakers and economists closely monitor TFP to assess a country's economic potential and guide policy decisions.
Key Facts
- TFP in Cyprus grew by 1.2% in 2021.
- Cyprus' TFP level is 85% of the Eurozone average.
- Improving TFP is a key priority for Cyprus' economic development strategy.
FAQs
Q: What does this economic trend measure?
A: The Total Factor Productivity (TFP) at Constant National Prices for Cyprus measures the overall efficiency and technological progress of the country's production processes.
Q: Why is this trend relevant for users or analysts?
A: TFP is a crucial indicator of long-term economic growth and competitiveness, providing insights into the quality and dynamism of a nation's production capabilities.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on national accounts and production data.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor TFP to assess a country's economic potential and guide policy decisions aimed at fostering productivity and competitiveness.
Q: Are there update delays or limitations?
A: The TFP data is published regularly by the Federal Reserve, but may be subject to revisions and lags in data reporting from national sources.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Cyprus (RTFPNACYA632NRUG), retrieved from FRED.