Productivity and economic growth are key factors to maintain and improve the competitiveness of nations in the global market. The paper analyzes the impact of changes in labour productivity and its effect on the nation's global competitiveness. The research focuses on the European Union countries and Ukraine that experienced the most severe crisis and afterward the most rapid recovery in the post-crisis period. At the national level, sufficient productivity dynamics are supported by high levels of market competition, broad investment opportunities, and investment promotion. At the same time, the constant acceleration of the action and volatility of exogenous factors of economic development, qualitative transformations of endogenous factors determine the relevance of constant monitoring of the state of productivity and forecasting it for the medium and long-term periods.