Research Areas

This report will offer an overview of the annual figures and main novelties of the new database on the System of Indicators of National and International Productivity, and will provide a specific analysis of the evolution of productivity in Spain before and after COVID-19.

Compared to other countries, the trajectory of Spain’s productivity during most of the 21st century is a matter of concern. This is reflected both in the irregular and weak progress of its labor productivity -per employee or per hour worked- and, even more so, in the decline of its total factor productivity, which indicates a negative evolution of efficiency and a poor use of the economy’s capitalization effort. The result is a weakening of Spain’s international competitiveness and capacity to generate value and sustain the relative welfare of its inhabitants in comparison with other countries. Although the problem has been known for years and noted by specialists, the attention paid to it in the design of public and private policies is inadequate.

For this reason, the BBVA Foundation and the Ivie have envisaged the construction of a productivity observatory in Spain to generate data on a regular basis and carry out detailed analyses of the problem in the current circumstances. Through a rigorous selection of indicators, the Productivity and Competitiveness Observatory (Observatorio PROCOMP FBBVA-lvie) will generate systematic information on the productivity and competitiveness of the Spanish economy. The Observatory will have an international perspective and will provide an updated monitoring of these problems in Spain, reinforced by an in-depth analysis of different topics.