Video Discription |
Technical and Vocational Education and Training (TVET) plays a crucial role in bolstering economic development by aligning education with market needs, promoting employment, and fostering economic growth. By understanding a country's main economic drivers and sectors, TVET consultants can tailor training programs to meet the economy's current and future needs. This approach has been successfully implemented in various countries, including Germany, Singapore, Tanzania, Saudi Arabia, the United Arab Emirates, Jordan, Egypt, Turkey, and Cyprus. TVET not only promotes economic growth by providing a skilled workforce but also contributes to sustainable development by offering training in sustainable practices.
To identify a country's economic sectors, several tools and methodologies are used, including Economic Data Analysis, Input-Output Analysis, Economic Base Analysis, Shift-Share Analysis, Location Quotient (LQ), SWOT Analysis, and Labour Market Information (LMI). These tools provide insights into the most significant contributors to the economy, the interdependencies between different sectors, the sectors that bring income into the economy from outside, the growth performance of an economy's sectors, the concentration of a particular industry or occupation in a region, and the demand for labor in different sectors. By using these tools, policymakers, researchers, and businesses can make informed decisions and strategies for economic development.
Join Our Community
Subscribe to our channel and become part of a thriving community dedicated to TVET. Visit our website World of TVET (https://www.worldoftvet.com/) for a wealth of free resources, including links, blogs, and much more. Get involved and make a difference today!
Also check out our blog titled: TVET Alignment with Sustainable Development Goals (https://www.worldoftvet.com/blog/tvet-and-sdg)
Useful websites
Here are some useful websites that can help identify a country's economic sectors:
• World Bank Open Data (https://data.worldbank.org/ ): Provides a wealth of information on various economic indicators for countries around the world, including GDP, employment, and sector-specific data.
• International Monetary Fund (IMF) (https://www.imf.org/ ): The IMF publishes a range of time series data on IMF lending, exchange rates, and other economic and financial indicators.
• United Nations Statistics Division (https://unstats.un.org/ ): Offers a global centre for data on international trade, national accounts, energy, industry, environment, and demographic and social statistics gathered from national and international sources.
• Organisation for Economic Co-operation and Development (OECD) (https://www.oecd.org/ ): Provides data on a wide range of topics, including economic indicators, trade, employment, and industry data for its member countries.
• U.S. Bureau of Economic Analysis (https://www.bea.gov/ ): While focused on the U.S., it also provides some international economic data.
• Eurostat (https://ec.europa.eu/eurostat/data/database ): The statistical office of the European Union offering a comprehensive range of statistical data on Europe, including economic indicators.
• Trading Economics (https://tradingeconomics.com/ ): Provides current and historical data for 20 million economic indicators from 196 countries including detailed economic data on sectors.
• Statista (https://www.statista.com/ ): A leading provider of market and consumer data, which includes information on various sectors for many countries.
National Statistical Websites: Most countries have national statistical websites that provide data on various sectors of the economy. Examples include the Office for National Statistics in the UK, the Australian Bureau of Statistics in Australia, and the Central Statistics Office in India. Remember to always check the reliability of the source and the date of the data when using these websites. |