Singapore - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Singapore was 24.37 as of 2020. Its highest value over the past 60 years was 35.16 in 1984, while its lowest value was 16.36 in 1960.

Definition: Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. 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 or 4.

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

See also:

Year Value
1960 16.36
1961 16.86
1962 17.59
1963 18.78
1964 21.25
1965 22.15
1966 22.24
1967 22.96
1968 23.86
1969 24.67
1970 26.93
1971 28.48
1972 30.92
1973 30.56
1974 31.22
1975 31.21
1976 31.98
1977 31.75
1978 31.41
1979 33.09
1980 34.88
1981 34.43
1982 33.34
1983 34.43
1984 35.16
1985 32.17
1986 33.13
1987 32.62
1988 33.58
1989 32.12
1990 30.86
1991 32.62
1992 32.29
1993 32.14
1994 31.30
1995 31.49
1996 31.55
1997 31.07
1998 32.09
1999 30.85
2000 32.46
2001 30.38
2002 30.75
2003 30.22
2004 31.89
2005 31.41
2006 30.89
2007 28.23
2008 26.42
2009 27.02
2010 26.64
2011 25.26
2012 25.02
2013 23.45
2014 24.17
2015 24.29
2016 23.30
2017 23.54
2018 25.50
2019 24.21
2020 24.37

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