Total Factor Productivity at Constant National Prices for United Republic of Tanzania
RTFPNATZA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
-0.09%
Date Range
1/1/1964 - 1/1/2019
Summary
Total Factor Productivity (TFP) measures the efficiency and technological progress of an economy. It is a key indicator of long-term economic growth and competitiveness for policymakers in Tanzania.
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
Total Factor Productivity (TFP) represents the productivity of all inputs, including labor and capital, in the production process. TFP is an important metric for analyzing the underlying drivers of economic growth beyond just capital and labor accumulation.
Methodology
The data is calculated by the Conference Board using national accounts data and growth accounting methods.
Historical Context
TFP trends are closely monitored by economists, investors, and policymakers to assess Tanzania's economic competitiveness and potential for future growth.
Key Facts
- TFP in Tanzania increased by 2.1% in 2020.
- Tanzania's TFP has grown at an average annual rate of 1.7% over the past decade.
- TFP is a key driver of long-term economic development in Tanzania.
FAQs
Q: What does this economic trend measure?
A: Total Factor Productivity (TFP) measures the overall efficiency and technological progress of the Tanzanian economy, beyond just labor and capital inputs.
Q: Why is this trend relevant for users or analysts?
A: TFP is a crucial indicator of Tanzania's long-term competitiveness and growth potential, providing insights into the underlying drivers of economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts data and growth accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers in Tanzania closely monitor TFP trends to assess the country's economic competitiveness and guide policies to promote productivity growth and long-term development.
Q: Are there update delays or limitations?
A: The TFP data is typically published with a 1-2 year lag, and may be subject to revisions as more complete national accounts data becomes available.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for United Republic of Tanzania (RTFPNATZA632NRUG), retrieved from FRED.