Library Publications MSMEs Contribution to Local and National Economy

MSMEs Contribution to Local and National Economy

16 Jul 2017 831

Empirical studies have shown that MSMEs contribute over 55% of GDP and over 65% of total employment in high-income countries. MSMEs and informal enterprises account for over 60% of GDP and over 70% of total employment in low-income countries, while they contribute about 70% of GDP and 95% of total employment in middle-income countries. This publication provides a more in depth look at the importance of MSMEs in the local and national economy and why MSMEs should be supported as they play a critical role in poverty alleviation and driving sustainable growth in developing countries.

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