Puerto Rico - Manufacturing, value added (% of GDP)

Manufacturing, value added (% of GDP) in Puerto Rico was 48.24 as of 2020. Its highest value over the past 60 years was 48.44 in 2016, while its lowest value was 21.65 in 1960.

Definition: Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 21.65
1963 24.12
1964 23.93
1965 23.41
1966 24.41
1967 24.11
1968 24.25
1969 24.61
1970 23.11
1971 23.62
1972 25.25
1973 26.83
1974 28.64
1975 28.91
1976 33.16
1977 33.28
1978 34.97
1979 34.84
1980 36.76
1981 36.31
1982 36.53
1983 37.08
1984 38.46
1985 38.98
1986 38.84
1987 39.47
1988 39.70
1989 39.17
1990 39.62
1991 39.21
1992 40.96
1993 41.78
1994 42.20
1995 41.90
1996 40.73
1997 40.06
1998 42.51
1999 37.45
2000 39.69
2001 42.82
2002 43.97
2003 43.64
2004 42.73
2005 42.40
2006 42.06
2007 42.04
2008 42.97
2009 45.52
2010 47.34
2011 46.60
2012 46.25
2013 46.44
2014 46.73
2015 47.90
2016 48.44
2017 47.34
2018 47.75
2019 47.26
2020 48.24

Limitations and Exceptions: Ideally, industrial output should be measured through regular censuses and surveys of firms. But in most developing countries such surveys are infrequent, so earlier survey results must be extrapolated using an appropriate indicator. The choice of sampling unit, which may be the enterprise (where responses may be based on financial records) or the establishment (where production units may be recorded separately), also affects the quality of the data. Moreover, much industrial production is organized in unincorporated or owner-operated ventures that are not captured by surveys aimed at the formal sector. Even in large industries, where regular surveys are more likely, evasion of excise and other taxes and nondisclosure of income lower the estimates of value added. Such problems become more acute as countries move from state control of industry to private enterprise, because new firms and growing numbers of established firms fail to report. In accordance with the System of National Accounts, output should include all such unreported activity as well as the value of illegal activities and other unrecorded, informal, or small-scale operations. Data on these activities need to be collected using techniques other than conventional surveys of firms.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Weighted average

Periodicity: Annual

General Comments: Note: Data for OECD countries are based on ISIC, revision 4.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts