Vietnam posts high labour productivity growth in ASEAN hinh anh 1Labour productivity in Vietnam has improved over the past years, according to the General Statistics Office (Photo: VNA)

Hanoi (VNA) – Labour productivity in the Vietnamese economy has been estimated at 102 million VND (4,512 USD) per workhand in 2018, up 8.8 million VND (346 USD) from the previous year, according to the General Statistics Office (GSO).

The GSO said labour productivity has improved considerably in recent years, helping Vietnam record a high productivity increase compared to other ASEAN nations.

Based on the 2011 purchasing power parity, it rose by an annual average of 4 percent between 2008 and 2018, higher than the average growth rate of Singapore (0.9 percent), Malaysia (1.1 percent), Thailand (2.6 percent), the Philippines (3.3 percent), and Indonesia (3.4 percent).

However, the labour productivity gap between Vietnam and other countries is still widening, showing that the economy faces challenges to keep up with labour productivity of other nations, the GSO noted.-VNA