Total Factor Productivity at Constant National Prices for Republic of Korea
RTFPNAKRA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.01
Year-over-Year Change
8.02%
Date Range
1/1/1957 - 1/1/2019
Summary
This economic trend measures total factor productivity (TFP) in the Republic of Korea, which captures efficiency gains beyond capital and labor inputs. It is an important indicator for policymakers and analysts assessing 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 represents the portion of economic output not explained by traditional inputs like capital and labor. Tracking TFP helps identify sources of productivity improvements beyond capital deepening or workforce expansion, providing insights into technological change and efficiency gains.
Methodology
The data is calculated by the U.S. Federal Reserve based on growth accounting methods.
Historical Context
TFP is widely used by central banks, finance ministries, and international institutions to analyze a country's economic potential and competitiveness.
Key Facts
- Korea's TFP has increased by over 50% since 1990.
- Productivity growth accounts for more than half of Korea's GDP expansion in recent decades.
- Korea ranks among the global leaders in TFP levels and growth rates.
FAQs
Q: What does this economic trend measure?
A: This trend measures total factor productivity (TFP) in the Republic of Korea, which captures efficiency gains beyond capital and labor inputs.
Q: Why is this trend relevant for users or analysts?
A: TFP is an important indicator for policymakers and analysts assessing a country's long-term economic growth potential and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on growth accounting methods.
Q: How is this trend used in economic policy?
A: TFP is widely used by central banks, finance ministries, and international institutions to analyze a country's economic potential and competitiveness.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the compiling agency.
Related Trends
Total Factor Productivity at Constant National Prices for Kyrgyzstan
RTFPNAKGA632NRUG
Share of Labour Compensation in GDP at Current National Prices for Kenya
LABSHPKEA156NRUG
Total Factor Productivity at Constant National Prices for Honduras
RTFPNAHNA632NRUG
Capital Stock at Constant National Prices for Oman
RKNANPOMA666NRUG
Real GDP at Constant National Prices for Oman
RGDPNAOMA666NRUG
Share of Labour Compensation in GDP at Current National Prices for Latvia
LABSHPLVA156NRUG
Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Republic of Korea (RTFPNAKRA632NRUG), retrieved from FRED.