Comprehensive database with annual data covering GDP, population, employment, hours, labor quality, capital services, labor productivity, and Total Factor Productivity for 123 countries in the world.
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About the April 2019 release
View the April 2019 press release here.
Please view our Productivity Brief 2019 for the main highlights (this publication includes the regularly released summary tables and charts).
This release includes updated and revised estimates of the complete dataset (including the growth accounting variables). Please create an account with The Conference Board for complimentary access to all data files.
Global Productivity Growth Remains Weak, Extending Slowing Trend
- Global output per worker was 1.9 percent in 2018, compared to 2 percent in 2017 and projected to return to 2 percent growth in 2019. The latest estimates extend the downward trend in global labor productivity growth from an average annual rate of 2.9 percent between 2000-2007 to 2.3 percent between 2010-2017. The results also indicate that long-awaited productivity effects from digital transformation are still too small to see reflected in a lasting improvement at the macroeconomic level.
- Global total factor productivity growth which takes account of investment in capital and labor force skills and provides a more accurate picture of the overall efficiency by which capital, labor, and skills are combined in the production process, turned negative again at -0.1 percent in 2018, down from a small increase of 0.2 percent in 2017. The stagnation in total factor productivity growth rates over the past decade, which was continued in 2018, is of great concern from a medium-term growth perspective. This means that the modest growth in labor productivity that still is being realized is mostly driven by the accumulation of physical capital, rather than efficiency gains or innovations.
- Among mature economies, the productivity slowdown in the past decade has been dramatic, as growth rates of output per hour halved from an average annual rate of 2.3 percent in the period 2000-2007 to 1.2 percent from 2010-2017. Productivity growth further slowed to 0.8 percent in 2018, showing a small projected improvement to 1.1 percent in 2019. When taking a longer-term perspective, the decline in productivity growth rates in mature economies seems to have bottomed out in recent years. However, after improving significantly in 2017, total factor productivity growth rates in mature economies returned to below the average 2010-2017 rates in 2018.
- Emerging markets still have a substantial productivity growth advantage over mature economies. Taken together all emerging and developing economies saw an increase in output per worker at 2.6 percent in 2018, compared to 1 percent on average for the mature economies. However, overall productivity growth rates in emerging markets have also slowed since 2010, and this downward trajectory will continue for the time being. Emerging markets have lost much of their productivity catch-up potential in the past decade. For the largest eight emerging markets (Brazil, China, India, Indonesia, Mexico, Russia, South Africa and Turkey) combined, output per worker growth slowed from 5.5 percent between 2000-2007 to 4.4 percent between 2010-2017, a trend which has been exacerbated recently to only 3.5 percent. Total factor productivity growth even evaporated completely since 2010, though this is far a large part driven by China.
The next update is scheduled for Spring 2020.