In 2017, Singapore’s overall labour productivity, as measured by real value-added (VA) per actual hour worked (AHW), grew by 4.5 per cent, the highest recorded since the rebound year of 2010 following the Global Financial Crisis. This article examines the drivers of the strong productivity growth in 2017 using a shift-share analysis. It also traces the changes in the composition of Singapore’s Gross Domestic Product (GDP) growth over the years, and compares our recent productivity performance with other advanced economies.

Please click here for the full article.