Grenada - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Grenada was 13.09 as of 2020. Its highest value over the past 43 years was 22.85 in 2005, while its lowest value was 10.20 in 1980.

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
1977 10.85
1978 10.52
1979 11.20
1980 10.20
1981 11.70
1982 13.72
1983 13.02
1984 12.49
1985 12.85
1986 13.37
1987 14.17
1988 14.42
1989 13.44
1990 13.30
1991 15.32
1992 15.27
1993 14.89
1994 15.46
1995 15.85
1996 15.56
1997 16.17
1998 16.65
1999 17.37
2000 17.91
2001 16.51
2002 16.62
2003 17.01
2004 16.71
2005 22.85
2006 19.42
2007 18.82
2008 17.55
2009 14.73
2010 14.71
2011 13.34
2012 12.32
2013 13.40
2014 12.81
2015 12.32
2016 12.16
2017 12.72
2018 13.43
2019 13.64
2020 13.09

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