TABLE 1 : PRODUCTIVITY AND COMPENSATION LEVELS 1997

GDP per worker and total hourly compensation for manufacturing workers in US$

Levels, US$ Indices (Singapore =100) Productivity Compensation Productivity Compensation Countries (value-added Cost (value-added Cost per worker) (per hour) per worker) (per hour) Norway 99,671 21.59 174 323 Switzerland 78,850 23.74 137 355 Japan 77,108 17.51 134 262 US 67,228 17.70 117 265 Singapore 57,400 6.69 100 100 Korea 41,045 3.87 72 58 Hong Kong 28,426 5.13 50 77 Taiwan 28,234 5.57 49 83 Malaysia 14,431 0.9 25 13 Thailand 9,622 0.76 17 11 Indonesia 4,919 0.06 9 1 China 3,024 0.27 5 4 Notes: 1) The productivity data for Hong Kong refer to 1994 as the data for 1997 is not available. 2) Hourly compensation is defined as (i) all payments made directly to the worker before payroll deductions of any kind, and (ii) employer contributions to legally required insurance programs, and contractual and private benefits plans. 3) Jan 98 exchange rate used. Source : The World Competitiveness Yearbook, 1998