Austria - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Austria was 25.46 as of 2020. Its highest value over the past 44 years was 34.00 in 1976, while its lowest value was 25.10 in 2019.

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
1976 34.00
1977 33.60
1978 33.84
1979 32.92
1980 32.94
1981 32.55
1982 31.77
1983 31.30
1984 30.11
1985 30.45
1986 30.26
1987 29.75
1988 29.52
1989 29.28
1990 29.56
1991 29.51
1992 29.02
1993 28.30
1994 28.41
1995 28.85
1996 28.75
1997 28.68
1998 28.51
1999 28.43
2000 28.28
2001 28.21
2002 27.39
2003 27.50
2004 27.37
2005 27.07
2006 27.26
2007 27.57
2008 26.96
2009 25.79
2010 25.53
2011 25.45
2012 25.63
2013 25.52
2014 25.36
2015 25.17
2016 25.48
2017 25.41
2018 25.37
2019 25.10
2020 25.46

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