The most productive countries in the world are… Many countries have distinct sectors that are more prevalent than others, making this question difficult to answer.
The length of the workweek varies greatly from country to country.
Productivity is measured by GDP (PPP) per hour worked, not including unemployment or the number of hours worked per week. The total monetary worth of all the commodities and services produced in a single nation is included in the GDP.
Economic productivity and living standards may be measured using the macroeconomic analysis metric’s purchasing power parity (PPP).
Instead of relying on exchange rates from the international market, GDP (PPP) is calculated using nominal GDP that has been adjusted for the relative costs of local products and services and inflation rates.
Workers’ total hours spent in production are coupled with other production parameters and used to produce GDP (PPP) per hour, which indicates how effectively labour input is used. It’s possible to use GDP (PPP) per hour to measure productivity. A list of ten nations with the longest workweeks globally is shown below.
At $99.13, Ireland has the greatest production per hour. 39.7 hours per week is the average working week for full-time Irish workers.
Productivity in Ireland is boosted by the country’s significant concentration of international companies. Between 2000 and 2016, labour productivity increased by an average of 4.5 per cent.
The hourly rate of output in Norway is $80.83. In Norway, the average workweek is 38.0 hours, the third-lowest in the world. Work-life balance is very highly prized, as is the importance of family. Picking up their children from school sometimes entails parents being permitted to leave work early.
When the clock strikes four o’clock, Norwegians are noted for their ability to completely disengage from their professions and focus only on the tasks at hand (the typical end time of a Norwegian workday)
In terms of output, Switzerland is the third-largest economy. The Swiss economy gains $69.26 every hour of labour. Only 0.4% of full-time workers work more than 50 hours per week than the national average.
Luxembourg’s hourly rate of output is $68.36, or $68.36 per hour. Luxembourgish workers put in 40 hours of labour on a typical week.
Luxemburg’s strong productivity is attributed mostly to the country’s thriving finance industry. Luxembourg’s productivity is expected to rise even higher if the country adopts the Scandinavian work-life balance.
Germany is the fifth most productive country globally, despite being one of the most technologically sophisticated. Productivity in Germany is $66.71 an hour. Even after the unification of Germany more than three decades ago, the west still has a greater rate of productivity than the east.
Most businesses in Eastern Germany are small and medium-sized, with lower worker productivity, whereas most businesses in Western Germany are big and competitive.
6. United States
There is $65.51 worth of production in the United States. Full-time workers in the United States put in an average of 41.5 hours a week, with roughly 11.1% clocking in at or over the 50-hour mark.
While the United States is currently the sixth most productive nation per hour, many Americans live to work rather than work to live.
With a productivity rate of $64.71 per hour, Denmark is the world’s sixth most productive nation. Denmark’s full-time workforce works the fewest hours per week on average (37.2 hours) among the OECD nations.
Because of its generous social programs and ageing population, Denmark will have to raise the productivity of its workforce indefinitely.
The country of France comes in at number eight on the world scale. French employees’ GDP (PPP) contribution is $62.79 per hour.
At 38.9 hours per week, France’s workweek is the sixth lowest among OECD nations. The productivity of France is around 25% greater than the average of the OECD and the EU.
The Netherlands has a productivity per hour worked rate of $61.43. The average full-time workweek in the Netherlands is 37.3 hours, which is the second-lowest among OECD nations.
Because of the Netherlands’ excellent productivity, just 0.4 per cent of workers work more than 50 hours a week. The Dutch also enjoy some of the world’s greatest work-life balance.
A Belgian worker contributes $59.65 to the nation’s GDP (PPP) per hour worked, making Belgium the 10th most productive country globally. The typical workweek clocks in at roughly 38.8 hours for full-time workers in Belgium.
High pay, minimal inequality, and a good work-life balance are partly due to the employees’ strong technical abilities and advanced education.
Also See: Most Expensive Countries To Live in 2022
The following is a list of the 10 countries with the greatest productivity per hour:
- Norway ($75.08)
- Luxembourg ($73.22)
- United States ($67.32)
- Belgium ($60.98)
- Netherlands ($60.06)
- France ($59.24)
- Germany ($57.36)
- Ireland ($56.05)
- Australia ($55.87)
- Denmark ($55.75)
|Country||GDP (PPP) per hour||Rank||2022 Population|
|Trinidad and Tobago||40.0400||24||1406.5850|