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Singapore Budget 2019: Productivity grew 3.6% a year in the past 3 years
PRODUCTIVITY, as measured by real value-added per actual hour worked, grew by 3.6 per cent per year in the past three years, higher than the 1.6 per cent per annum growth recorded in the preceding three years, from 2012 to 2015.
Finance Minister Heng Swee Keat said in Parliament on Monday that Singapore has seen strong performance by outward-oriented sectors such as manufacturing, while others like construction and some services industries continue to show weaker productivity growth.
To-date, all 23 Industry Transformation Maps (ITMs) - each integrating the four pillars of transofrmation of jobs and skills, innovation, internationalisation and productivity - have been launched, covering about 80 per cent of Singapore's economy.
For all of our Singapore Budget 2019 coverage, news, analysis, and infographics visit bt.sg/budget19