Singapore - Manufacturing, value added (% of GDP)

Manufacturing, value added (% of GDP) in Singapore was 20.54 as of 2020. Its highest value over the past 60 years was 27.12 in 2004, while its lowest value was 10.30 in 1961.

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 10.58
1961 10.30
1962 10.73
1963 11.69
1964 12.81
1965 13.54
1966 14.09
1967 14.45
1968 15.11
1969 16.18
1970 17.45
1971 18.60
1972 20.17
1973 21.30
1974 22.00
1975 21.44
1976 22.08
1977 22.60
1978 23.34
1979 25.25
1980 26.53
1981 25.76
1982 22.29
1983 21.46
1984 21.40
1985 20.12
1986 22.61
1987 24.09
1988 26.08
1989 25.30
1990 24.40
1991 25.46
1992 24.35
1993 24.47
1994 23.62
1995 23.99
1996 23.17
1997 22.15
1998 22.69
1999 22.85
2000 25.86
2001 23.39
2002 24.74
2003 24.77
2004 27.12
2005 27.08
2006 26.58
2007 23.82
2008 20.59
2009 20.27
2010 20.77
2011 19.58
2012 19.12
2013 17.64
2014 18.00
2015 18.09
2016 17.56
2017 18.62
2018 20.86
2019 19.45
2020 20.54

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