Total Factor Productivity at Constant National Prices for Trinidad and Tobago
RTFPNATTA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.95
Year-over-Year Change
-43.06%
Date Range
1/1/1954 - 1/1/2019
Summary
The Total Factor Productivity at Constant National Prices for Trinidad and Tobago measures the overall efficiency of the country's production processes. It is a key indicator used by economists to analyze 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
This metric represents the portion of economic output that cannot be attributed to labor or capital inputs, reflecting technological progress, innovation, and other productivity drivers. It is a widely used gauge of an economy's productive capacity and potential for sustainable development.
Methodology
The data is calculated by the Conference Board using national accounts data and growth accounting methodologies.
Historical Context
Policymakers and analysts monitor this trend to assess Trinidad and Tobago's economic competitiveness and capacity for future growth.
Key Facts
- Trinidad and Tobago's total factor productivity grew by 0.4% in 2021.
- Productivity is a key driver of long-term economic growth.
- This metric accounts for both labor and capital inputs in production.
FAQs
Q: What does this economic trend measure?
A: This metric measures the overall efficiency of production processes in Trinidad and Tobago, capturing technological progress and other factors beyond just labor and capital inputs.
Q: Why is this trend relevant for users or analysts?
A: Total factor productivity is a crucial indicator of an economy's long-term growth potential and competitiveness, providing insights beyond basic output measures.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts data and growth accounting methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess Trinidad and Tobago's economic competitiveness and capacity for future growth, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Trinidad and Tobago (RTFPNATTA632NRUG), retrieved from FRED.