Economy at the highest level: 19 countries with the highest production volumes

Productivity is one of the most important driving forces of the economy. The more productive the employees, the more profits they can bring to their employers and, accordingly, the economy of their native country. A new study in the UK showed which nations of the world are most productive. Researchers compared the data on the productivity of the 35 largest economies of the world, after which they created a full rating. To achieve an accurate result, they took the per capita GDP of a particular country, after which they divided this indicator by the average number of working hours per year per person. The result is a rating that shows which states earn the most money in less time and, accordingly, are more productive. The rating was based on the volume of GDP, which one employee in the country in question brings to it in one hour of work. In this ranking you will find the 19 most productive countries from the received rating, which will be arranged in order of increasing productivity. The result may well surprise you, as some positions were simply impossible to predict, while the dominance of Scandinavian countries in Europe is read without expert judgment. So, it's time to get to know how many pounds sterling each employee of a particular country adds to the overall GDP for every hour of their work.

Israel

Israel is rapidly gaining the reputation of an innovative center, and people here work an average of 1,889 hours a year, generating almost 16 pounds of GDP per hour.

Japan

At the moment, Japan is conducting an unusual experiment with negative interest rates, and the state itself has the highest level of government debt among all countries in comparison with GDP. At the same time, the Japanese manage to maintain a rather high performance, which is 17 pounds sterling per hour.

United Kingdom

The British economy already bears the first losses associated with Brexit, the value of the pound is falling, inflation is increasing, and salaries are declining. In the same rating a year ago, the British created more than one pound of profit for the state more than this year. More precisely, in 2016, productivity was 18.64 pounds per hour, while in 2017 it fell to 17.37 pounds per hour.

New Zealand

The island state in the far corner of the Earth relies mainly on the production of milk and dairy products, as well as sheep breeding. GDP per capita in this country is more than 31 thousand pounds, and GDP per hour - 18 pounds.

France

In France shorter workweeks than in the UK, but it turns out that the French manage to produce more GDP per hour than the British. As a result, the French generate an hour 19 and a half pounds of GDP of their country.

Canada

The northern neighbors of the United States have GDP per capita of more than 33 thousand pounds and work on average 1,703 hours per year. These figures mean that the United States has bypassed Canada in terms of GDP productivity. But the result of the Canadians still remains impressive - 19.72 pounds per hour, which is 21 pence more than the French.

Finland

In Finland it is almost always dark because it is located so close to the North Pole, but at the same time the Finns manage to work efficiently, producing 631 pound of GDP every week. This means that every day the Finns of GDP are replenished by 19, almost 20 pounds. The Finns bypassed the Canadians by only 13 pence.

Austria

The GDP per capita of the Central European country is more than 33 thousand pounds, but workers spend an average of 1601 hours per year on the workplace, which makes them much more productive than most workers in other European countries, since for each hour of this work they Replenish their country's GDP by 21 pounds.

Germany

The Germans are famous for their efficiency, and this affects the productivity of GDP, as Germany is the second largest country in the productivity of the G-7 with a rate of 23 pounds per hour.

Sweden

Like other Scandinavian countries, Sweden is known for the fact that people here are happy, crime rates are low, and on the whole it is quite an attractive place to live. And this, naturally, contributes to high productivity in this country, as people here in an hour bring the country's GDP on average 23 pounds. Sweden is ahead of Germany in this indicator by only 37 pence.

Netherlands

Residents of the Netherlands are known for their relaxation, but this reputation is questioned by this rating. After all, the Dutch are the seventh most productive nation in Europe. Their result in this rating was 24 pounds per hour.

Ireland

Ireland is a country that the British drew attention to after Brexit as a place where you can transfer your financial activities. GDP per capita in this state is more than 47 thousand pounds. As a result, it turns out that every hour an employee from Ireland brings about 25 pounds in GDP. If you say more precisely, 25 pounds 44 pence, which is only three pence less than in Australia.

Australia

The big neighbor of New Zealand is also more productive, workers here produce an average of 817 pounds of GDP per week. And this means that Australians lag behind the United States of America for a very small amount. More precisely, the productivity of Americans is the most 27 pence.

USA

US GDP per capita is more than 45 thousand pounds, while employees spend an average of 1,783 hours in the workplace. As a result, the United States is second only to five other countries in terms of productivity and is the most productive English-speaking country with an indicator of 25 pounds of GDP per person per hour.

Iceland

In this island country there are only about 300 thousand people, and the economy of Iceland is focused on the fishing industry and the extraction of aluminum. As a result, for one hour each employee brings 27 pounds to the state GDP.

Denmark

Denmark bypasses its strong neighbor Sweden in terms of productivity, but at the same time it does not manage to become the most productive Scandinavian country, even taking into account the fact that the staff of this country replenishes GDP by 28 pounds every hour. Moreover, this indicator is not enough even to get close to the top three. The gap between the third and fourth place was very large.

Switzerland

The Swiss are known for their efficiency, as well as the accuracy of the arrival of local trains, so it's no surprise that Swiss workers are among the most productive in the world. The Swiss work an average of 1,590 hours a year. And for each of these hours they replenish GDP by 37 pounds.

Norway

The Scandinavian productivity crown is on the head of Norway, as local employees are twice as productive in terms of money as employees in Israel, Japan or the UK. The fact is that for one hour the Norwegians on average bring about 39 pounds of GDP.

Luxembourg

This may surprise you, but the most productive country in the world was a tiny state in the center of Europe, best known for being the birthplace of the president of the EU commission, Jean-Claude Juncker. No other state in the world has even come close to what Luxembourg is demonstrating. Employees in Luxembourg showed simply an unprecedented result - more than 50 pounds of GDP per hour. This is not the result of any other country in the world.