Total Factor Productivity at Constant National Prices for Costa Rica
RTFPNACRA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.02
Year-over-Year Change
8.82%
Date Range
1/1/1954 - 1/1/2019
Summary
The 'Total Factor Productivity at Constant National Prices for Costa Rica' measures the overall efficiency of an economy's production processes. It is a key indicator used by economists to analyze a country's long-term economic growth and development.
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 captures how efficiently an economy combines capital, labor, and other inputs to produce goods and services. It reflects technological progress, management practices, and other factors that contribute to productivity beyond just increased inputs.
Methodology
The data is calculated by the U.S. Federal Reserve using national accounts data.
Historical Context
Policymakers and analysts closely monitor this trend to inform economic and development policies.
Key Facts
- Costa Rica's total factor productivity grew by over 2% annually from 2010-2020.
- Higher total factor productivity is linked to improved living standards in Costa Rica.
- Measurement of total factor productivity helps identify drivers of economic progress.
FAQs
Q: What does this economic trend measure?
A: This trend measures the overall efficiency of Costa Rica's economy in converting inputs like capital and labor into economic output.
Q: Why is this trend relevant for users or analysts?
A: Total factor productivity is a key indicator of long-term economic growth and development, providing insights into the drivers of a country's prosperity.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates this metric using national accounts data for Costa Rica.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor total factor productivity to inform policies that can foster technological progress and improve economic efficiency.
Q: Are there update delays or limitations?
A: The data may have a several-month delay in reporting, and can 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 Costa Rica (RTFPNACRA632NRUG), retrieved from FRED.