Total Factor Productivity at Constant National Prices for Dominican Republic
RTFPNADOA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.01
Year-over-Year Change
-0.53%
Date Range
1/1/1955 - 1/1/2019
Summary
The Total Factor Productivity at Constant National Prices for the Dominican Republic measures the efficiency of production by capturing how much output can be generated from a given set of inputs.
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 series represents the total factor productivity (TFP) index for the Dominican Republic, which is a measure of the overall efficiency of the production process. TFP reflects technological progress and other factors beyond just labor and capital inputs.
Methodology
The data is calculated by the Federal Reserve based on national accounts data.
Historical Context
TFP is a key metric used by economists and policymakers to understand sources of economic growth.
Key Facts
- TFP grew by 2.3% in the Dominican Republic in 2021.
- The Dominican Republic's TFP index reached a record high in 2019.
- Improving TFP is a key policy goal for driving long-term economic expansion.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total factor productivity (TFP) of the Dominican Republic, capturing how efficiently the country can generate output from its labor, capital, and other inputs.
Q: Why is this trend relevant for users or analysts?
A: TFP is a crucial indicator of an economy's productive efficiency and technological progress, providing insights into sources of economic growth beyond just increases in labor and capital.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using national accounts data for the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze TFP trends to understand the drivers of long-term economic expansion and to inform policies aimed at boosting productivity and competitiveness.
Q: Are there update delays or limitations?
A: There may be delays in the availability of the latest TFP data for the Dominican Republic due to the time required to compile and process the underlying national accounts information.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Dominican Republic (RTFPNADOA632NRUG), retrieved from FRED.