Productivity in Latin America Much Lower Than OECD Average

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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.