Total Factor Productivity at Constant National Prices for Saudi Arabia
RTFPNASAA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.95
Year-over-Year Change
-36.42%
Date Range
1/1/1974 - 1/1/2019
Summary
Total Factor Productivity (TFP) at Constant National Prices measures the efficiency of production in Saudi Arabia, providing insights into long-term economic 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
TFP is an economic metric that captures the combined productivity of labor, capital, and other inputs in the production process. It is a key indicator of technological progress and overall efficiency that complements measures like GDP.
Methodology
The data is calculated by the University of Groningen based on national accounts and labor force statistics.
Historical Context
TFP trends are closely monitored by policymakers and analysts to assess a country's economic competitiveness and potential for sustainable development.
Key Facts
- TFP in Saudi Arabia has grown by over 15% since 2010.
- High TFP is associated with faster GDP growth and rising living standards.
- Saudi Arabia's TFP is above the global average but lags major developed economies.
FAQs
Q: What does this economic trend measure?
A: This metric measures the overall productivity and efficiency of the Saudi Arabian economy, capturing how well the country converts inputs like labor and capital into economic output.
Q: Why is this trend relevant for users or analysts?
A: TFP is a key indicator of a country's long-term competitiveness and growth potential, making it crucial for policymakers, investors, and economists analyzing Saudi Arabia's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the University of Groningen using national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: Governments and central banks closely monitor TFP trends to assess a country's productivity, guide economic policies, and identify areas for improvement to drive sustainable growth.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not fully capture the most recent economic conditions in Saudi Arabia.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Saudi Arabia (RTFPNASAA632NRUG), retrieved from FRED.