S'pore's productivity growth ahead of comparable economies
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PRODUCTIVITY growth in Singapore is higher than in other high-income economies, according to ICAEW's latest Economic Insight: South East Asia report released on Wednesday that assesses recent productivity trends in the region.
Using average output per worker growth as a measure for average productivity growth, the report found that Asean has had an impressive productivity track record over the period 2000-2015, with average output per worker rising 3 per cent per annum. It attributed the strong productivity growth to a range of positive structural trends such as sectoral shifts throughout the Asean economies.
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