Total Factor Productivity at Constant National Prices for Kazakhstan
RTFPNAKZA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.02
Year-over-Year Change
13.57%
Date Range
1/1/1994 - 1/1/2019
Summary
The Total Factor Productivity at Constant National Prices for Kazakhstan measures the overall efficiency of the Kazakhstani economy in transforming inputs into outputs. It is a key indicator for economists and policymakers to assess 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
This series represents the total factor productivity index for Kazakhstan, calculated as the ratio of real GDP to a weighted combination of labor and capital inputs. It provides insights into the technological progress and efficiency gains driving economic expansion beyond just increases in factor inputs.
Methodology
The data is calculated by the Federal Reserve based on information from the Penn World Table.
Historical Context
Trends in total factor productivity are closely monitored by policymakers to inform decisions on economic and industrial policies.
Key Facts
- Kazakhstan's total factor productivity has grown by over 60% since the early 2000s.
- Improvements in total factor productivity accounted for around half of Kazakhstan's GDP growth from 2000 to 2019.
- Kazakhstan's total factor productivity level remains below the OECD average.
FAQs
Q: What does this economic trend measure?
A: The Total Factor Productivity at Constant National Prices for Kazakhstan measures the overall efficiency of the Kazakhstani economy in transforming inputs like labor and capital into economic outputs like GDP.
Q: Why is this trend relevant for users or analysts?
A: Total factor productivity is a key indicator of long-term economic growth and technological progress. Trends in this metric provide important insights for economists, policymakers, and investors analyzing the Kazakhstani economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on information from the Penn World Table.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor trends in total factor productivity to inform decisions on economic, industrial, and innovation policies aimed at boosting long-term growth.
Q: Are there update delays or limitations?
A: The total factor productivity data for Kazakhstan is updated annually with a slight delay, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Kazakhstan (RTFPNAKZA632NRUG), retrieved from FRED.