Productivity is about ‘working smarter’ rather than ‘working harder’. It’s a measure of how much output we produce from a given quantity of inputs.
Productivity is about how well people – individuals, businesses, countries – combine resources to produce goods and services.
Countries think about productivity as a comparison of national output – Gross Domestic Product (GDP) – to a measure of inputs (for example hours worked). It’s about how good countries are at turning their inputs – resources – into outputs. That is, how productive they are.
The Commission aims to lift New Zealand’s productivity and, as a result, lift the wellbeing of New Zealanders.