Friday 16 April 2021

Central American’s Low Productivity

CENTRAL AMERICA – Low productivity in Central American economies is the barrier which needs to be overcome if we want to grow in a sustainable way.

A study prepared by the Nicaraguan Foundation for Economic and Social Development (Funides) analyzes the evolution of productivity in different production factors in Nicaragua, Costa Rica, El Salvador, Guatemala and Honduras.

According to the study, “… average productivity of a Costa Rican worker is $13,000 a year, followed by Salvadoran employees with a productivity of $7,700 and Guatemalans with $6,000. Honduras has the second lowest productivity in the region with an average of $4,000 per year per worker. ”

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The report notes that between 1991 and 2013 average labor productivity grew by only 1.7% in Costa Rica, 1.4% in El Salvador, 0.6% in Nicaragua and Guatemala and 0.4% in Honduras. ”

Read the full study by Funides entitled “Growth, Productivity, Wages and Cost of Living in Nicaragua.”

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FACT CHECK:
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