Guyana - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Guyana was 38.80 as of 2020. Its highest value over the past 60 years was 38.80 in 2020, while its lowest value was 16.51 in 1992.

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 27.86
1961 28.12
1962 31.81
1963 29.64
1964 31.63
1965 31.39
1966 31.69
1967 32.52
1968 34.47
1969 34.88
1970 35.34
1971 33.79
1972 32.75
1973 29.75
1974 30.15
1975 31.74
1976 32.12
1977 32.36
1978 30.84
1979 30.20
1980 31.70
1981 25.80
1982 25.03
1983 18.60
1984 20.57
1985 20.67
1986 22.95
1987 26.01
1988 25.76
1989 25.87
1990 17.40
1991 20.21
1992 16.51
1993 23.55
1994 24.22
1995 21.01
1996 22.61
1997 21.85
1998 20.87
1999 19.90
2000 20.00
2001 20.08
2002 19.65
2003 18.05
2004 17.11
2005 16.67
2006 22.07
2007 23.66
2008 24.74
2009 24.57
2010 24.90
2011 26.45
2012 26.59
2013 25.63
2014 24.39
2015 24.72
2016 29.38
2017 26.21
2018 26.26
2019 28.69
2020 38.80

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