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Friday, February 3, 2023

Pakistan's average productivity growth remained just 1.5 pc from 2010 to 2020: Report - Economic Times

Last updated Tuesday, January 17, 2023 08:05 ET , Source: TopWireNews

High-productivity growth sectors were mostly based on services or tech, whereas those with medium to low or negative productivity growth are in manufacturing, as per the report.
Pakistan's average productivity growth, a crucial determinant of an economy's growth, remained just 1.5 per cent from 2010 to 2020, according to a media report. Dawn reported that the study - titled Sectoral Total Factor Productivity in Pakistan and - noted that the growth of productivity is a crucial determinant of an economy's growth that has to be pushed higher to over 3 per cent.
The study was the product of research conducted by the planning ministry and Pakistan Institute of Development Economics (PIDE) -- a think tank.
The study used unique listed and non-listed data from 1,321 firms divided into 61 sectors to estimate productivity growth in the country.
High-productivity growth sectors were mostly based on services or tech, whereas those with medium to low or negative productivity growth are in manufacturing, as per the report.
Total factor productivity (TFP) growth is a crucial determinant of long-term output growth.
According to the study, evidence showed that economies that had TFP growth of more than 3 per cent had a GDP growth rate of 8 per cent or more, whereas TFP growth of less than 3 per cent was associated with a GDP growth rate between 3 per cent and 7 per cent.
The economy-wide TFP growth estimates show that both TFP and GDP growth have been erratic in Pakistan since the early...



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