Total Factor Productivity at Constant National Prices for Lithuania
RTFPNALTA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.03
Year-over-Year Change
7.29%
Date Range
1/1/1994 - 1/1/2019
Summary
The 'Total Factor Productivity at Constant National Prices for Lithuania' measures the efficiency of combined labor and capital inputs in producing economic output in Lithuania. It is an important indicator for understanding long-term productivity 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) captures how efficiently an economy uses its factors of production, including labor and capital, to generate GDP. This metric adjusts for changes in input quantities, providing a more precise measure of technological progress and efficiency improvements.
Methodology
The data is calculated by the Federal Reserve based on national accounts and production data.
Historical Context
TFP trends are closely monitored by policymakers and economists to assess an economy's competitiveness and growth potential.
Key Facts
- Lithuania's TFP has grown by an average of 2.3% annually since 2000.
- TFP accounts for over 40% of Lithuania's long-term GDP growth.
- High TFP growth is associated with improvements in technology, skills, and business processes.
FAQs
Q: What does this economic trend measure?
A: The 'Total Factor Productivity at Constant National Prices for Lithuania' measures the overall efficiency of Lithuania's economy in converting labor and capital inputs into economic output.
Q: Why is this trend relevant for users or analysts?
A: TFP is a key indicator of an economy's long-term competitiveness and growth potential, providing insights beyond just labor productivity or capital investment.
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 for Lithuania.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor TFP trends to assess an economy's efficiency, competitiveness, and prospects for sustainable growth.
Q: Are there update delays or limitations?
A: The TFP data is published with a lag, reflecting the time required to compile national accounts and production statistics.
Related Trends
Real GDP at Constant National Prices for Grenada
RGDPNAGDA666NRUG
Real GDP at Constant National Prices for Kenya
RGDPNAKEA666NRUG
Total Factor Productivity at Constant National Prices for Central African Republic
RTFPNACFA632NRUG
Share of Labour Compensation in GDP at Current National Prices for Israel
LABSHPILA156NRUG
Share of Labour Compensation in GDP at Current National Prices for Saudi Arabia
LABSHPSAA156NRUG
Real GDP at Constant National Prices for the Democratic Republic of the Congo
RGDPNACDA666NRUG
Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Lithuania (RTFPNALTA632NRUG), retrieved from FRED.