Ecuador - Manufacturing, value added (% of GDP)

Manufacturing, value added (% of GDP) in Ecuador was 15.57 as of 2020. Its highest value over the past 60 years was 25.81 in 1992, while its lowest value was 12.95 in 2012.

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 19.71
1961 19.30
1962 19.47
1963 19.91
1964 21.50
1965 20.40
1966 21.92
1967 21.64
1968 21.21
1969 21.73
1970 23.19
1971 23.09
1972 21.75
1973 18.65
1974 18.87
1975 18.84
1976 19.32
1977 20.72
1978 19.69
1979 20.53
1980 18.34
1981 18.49
1982 19.72
1983 19.28
1984 22.14
1985 21.62
1986 20.52
1987 21.22
1988 21.50
1989 21.38
1990 22.33
1991 23.64
1992 25.81
1993 22.39
1994 22.84
1995 22.16
1996 21.92
1997 20.42
1998 19.93
1999 21.27
2000 22.38
2001 18.94
2002 17.57
2003 16.22
2004 15.10
2005 14.13
2006 13.65
2007 13.73
2008 13.71
2009 13.88
2010 13.40
2011 13.04
2012 12.95
2013 13.04
2014 13.76
2015 14.42
2016 14.55
2017 14.37
2018 13.95
2019 14.67
2020 15.57

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