For international comparison, ULC is also expressed in US dollar terms. The continuous depreciation of the dollar may have helped our exports to remain competitive. As stated before, trends in the EPZ sector reflect the performance of the textile industry. The table presented below compares the HLC in the textile industry for 1998 in some countries, including our competitors. Werner International Concepts and definitions 1.
Real output is given by value added at constant prices .
In the absence of total man hours, labour refers to the total number of persons engaged, that is employers, own account workers, contributing family workers and employees in any type of economic activity. Capital input Capital refers to the net stock of investment in reproducible fixed assets. Labour Productivity Labour productivity index shows the rate of change in output per person engaged. The capital productivity index shows the rate of change in output per unit of capital. The limitation of partial productivity measures is that they attribute to one factor of production, changes in efficiency that are attributable to other factors.