Productivity and Competitiveness indicators 2018

Labour productivity grew by 3.7% in 2018 higher than the 2.4% growth registered in 2017.

The higher growth in 2018 was the result of a GVA growth of 3.6% and a decline of 0.1% in labour input while in 2017, GVA grew by 3.6% compared to a growth of 1.1% in labour input.

Capital productivity for the economy increased by 0.4% in 2018 after a growth of 1.0% in 2017. This was due to a higher growth in GVA (3.6%) than in capital input (3.2%) in 2018.

Unit labour cost, the remuneration of labour (compensation of employees) per unit of output, increased by 1.4% in 2018 after that of 2.3% in 2017.