Productivity in Latin America Much Lower Than OECD Average
Productivity, measured as total GDP per person employed, is an important indicator of the efficiency of an economy. The average productivity in Latin America in 2013 was estimated at US$18,351, up from US13,524 in 2007. Despite this productivity in the region remains far below the average for OECD countries which was a predicted US$77,901 in the same year. Bolivia had the lowest productivity in 2013 in the region at just US$4,264 (estimate), due to its large informal sector.