Colombia - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Colombia was 23.89 as of 2020. Its highest value over the past 55 years was 36.94 in 1989, while its lowest value was 23.89 in 2020.

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
1965 27.38
1966 26.12
1967 27.99
1968 27.42
1969 27.52
1970 27.64
1971 27.73
1972 28.76
1973 30.52
1974 30.01
1975 29.22
1976 30.83
1977 30.30
1978 29.96
1979 29.52
1980 31.59
1981 30.60
1982 30.88
1983 31.50
1984 33.26
1985 34.60
1986 36.17
1987 34.75
1988 36.23
1989 36.94
1990 31.50
1991 31.63
1992 29.70
1993 30.17
1994 29.11
1995 29.23
1996 28.52
1997 27.08
1998 26.39
1999 26.72
2000 27.31
2001 27.22
2002 27.53
2003 28.90
2004 29.73
2005 30.35
2006 30.91
2007 30.58
2008 32.13
2009 31.25
2010 31.37
2011 33.30
2012 33.41
2013 32.75
2014 30.99
2015 28.59
2016 27.69
2017 26.81
2018 26.90
2019 26.05
2020 23.89

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