Total Factor Productivity at Constant National Prices for Burkina Faso
RTFPNABFA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.97
Year-over-Year Change
-4.64%
Date Range
1/1/1963 - 1/1/2019
Summary
Total Factor Productivity (TFP) at Constant National Prices for Burkina Faso measures the efficiency of a country's production processes. It is a key indicator of 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
TFP at Constant National Prices captures how much output can be produced from a given set of inputs, accounting for technological progress and other efficiency gains. This metric is widely used by economists and policymakers to assess a country's productive capacity and potential for long-term development.
Methodology
The data is calculated by the Penn World Table using a growth accounting framework.
Historical Context
Trends in TFP are closely monitored by international institutions and investors to gauge the health and prospects of national economies.
Key Facts
- TFP accounts for technological progress and efficient use of inputs.
- Burkina Faso's TFP has grown steadily over the past two decades.
- Improving TFP is crucial for long-term economic development in Sub-Saharan Africa.
FAQs
Q: What does this economic trend measure?
A: Total Factor Productivity (TFP) at Constant National Prices for Burkina Faso measures the overall efficiency of the country's production processes.
Q: Why is this trend relevant for users or analysts?
A: TFP is a key indicator of a country's economic growth potential and competitiveness. Tracking Burkina Faso's TFP provides insights into the nation's productive capacity and technological progress.
Q: How is this data collected or calculated?
A: The data is calculated by the Penn World Table using a growth accounting framework.
Q: How is this trend used in economic policy?
A: Trends in TFP are closely monitored by international institutions and investors to gauge the health and prospects of the Burkinabe economy.
Q: Are there update delays or limitations?
A: The TFP data for Burkina Faso is published annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Burkina Faso (RTFPNABFA632NRUG), retrieved from FRED.