Total Factor Productivity at Constant National Prices for Singapore
RTFPNASGA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.95
Year-over-Year Change
-16.01%
Date Range
1/1/1964 - 1/1/2019
Summary
Total Factor Productivity (TFP) for Singapore measures the overall efficiency of the nation's production processes. It is a key indicator of 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
TFP represents the portion of output not explained by the amount of inputs (labor, capital, etc.) used in production. Analyzing TFP trends helps policymakers understand sources of productivity gains beyond just capital investment and workforce expansion.
Methodology
The data is calculated by the U.S. Conference Board using national accounts and labor force data.
Historical Context
TFP is widely used by economists and government agencies to assess a country's economic performance and growth potential.
Key Facts
- Singapore has consistently high TFP levels compared to other advanced economies.
- TFP growth is a major driver of Singapore's rapid economic development.
- Improving TFP is a key policy objective for the Singaporean government.
FAQs
Q: What does this economic trend measure?
A: Total Factor Productivity (TFP) measures the overall efficiency of an economy's production processes, beyond just labor and capital inputs.
Q: Why is this trend relevant for users or analysts?
A: TFP is a crucial indicator of long-term economic growth and competitiveness, providing insights into the sources of productivity gains.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Conference Board using national accounts and labor force data.
Q: How is this trend used in economic policy?
A: Governments and policymakers use TFP analysis to assess a country's economic performance and growth potential, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published with some delay, and may not capture the most recent economic conditions.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Singapore (RTFPNASGA632NRUG), retrieved from FRED.