Ecuador - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Ecuador was 32.00 as of 2020. Its highest value over the past 60 years was 37.92 in 2008, while its lowest value was 21.67 in 1961.

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 22.02
1961 21.67
1962 21.69
1963 22.16
1964 23.76
1965 23.82
1966 25.32
1967 24.63
1968 25.04
1969 25.66
1970 27.46
1971 28.36
1972 27.05
1973 24.38
1974 26.46
1975 25.62
1976 26.98
1977 27.92
1978 27.09
1979 28.70
1980 26.80
1981 28.23
1982 29.60
1983 27.73
1984 29.53
1985 29.50
1986 27.16
1987 27.20
1988 29.11
1989 28.95
1990 30.13
1991 30.44
1992 32.61
1993 28.58
1994 28.25
1995 27.14
1996 26.79
1997 25.87
1998 25.82
1999 28.78
2000 33.62
2001 29.05
2002 28.81
2003 28.00
2004 29.71
2005 31.54
2006 33.89
2007 34.46
2008 37.92
2009 32.42
2010 34.72
2011 37.63
2012 37.76
2013 37.15
2014 36.78
2015 31.87
2016 32.02
2017 32.52
2018 32.54
2019 32.70
2020 32.00

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