Other than working population growth, productivity growth is a major driver of GDP (Gross Domestic Product) growth. Productivity refers to the efficiency with which goods and services are produced, and is typically measured as output per unit of input (such as labor, capital, or energy).
Productivity growth can be driven by various factors, such as technological innovation, improved infrastructure, better education and training, and more effective management practices. When productivity increases, more goods and services can be produced with the same amount of resources, which leads to economic growth and an increase in GDP.
In addition to productivity growth, other factors that can contribute to GDP growth include investment, consumption, and government spending. Investment in capital goods such as machinery, equipment, and buildings can increase production capacity and efficiency, while consumption spending by households can drive demand for goods and services. Government spending on infrastructure projects, social programs, and other initiatives can also stimulate economic activity and contribute to GDP growth.