Iceland - Other manufacturing (% of value added in manufacturing)

The value for Other manufacturing (% of value added in manufacturing) in Iceland was 36.76 as of 2019. As the graph below shows, over the past 51 years this indicator reached a maximum value of 52.94 in 2006 and a minimum value of 28.04 in 1968.

Definition: Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Other manufacturing, a residual, covers wood and related products (ISIC division 20), paper and related products (ISIC divisions 21 and 22), petroleum and related products (ISIC division 23), basic metals and mineral products (ISIC division27), fabricated metal products and professional goods (ISIC division 28), and other industries (ISIC divisions 25, 26, 31, 33, 36, and 37). Includes unallocated data. When data for textiles, machinery, or chemicals are shown as not available, they are included in other manufacturing.

Source: United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.

See also:

Year Value
1968 28.04
1969 28.31
1970 33.82
1971 33.77
1972 32.17
1973 35.47
1974 36.48
1975 34.75
1976 35.18
1977 34.71
1978 33.91
1979 36.68
1980 46.12
1981 42.17
1982 45.91
1983 47.76
1984 47.21
1985 42.58
1986 40.61
1987 43.67
1988 50.07
1989 50.57
1990 41.81
1991 39.15
1992 38.40
1993 37.95
1994 38.89
1995 40.75
1996 43.59
1997 40.67
1998 42.71
1999 43.47
2000 49.21
2001 43.36
2002 47.64
2003 45.55
2004 48.46
2005 52.62
2006 52.94
2007 52.92
2008 52.93
2009 52.93
2010 52.91
2011 40.05
2012 40.05
2013 40.05
2014 40.05
2015 38.46
2016 36.99
2017 47.67
2018 36.76
2019 36.76

Development Relevance: Firms typically use multiple processes to produce a product. For example, an automobile manufacturer engages in forging, welding, and painting as well as advertising, accounting, and other service activities. Collecting data at such a detailed level is not practical, nor is it useful to record production data at the highest level of a large, multiplant, multiproduct firm. The ISIC has therefore adopted as the definition of an establishment "an enterprise or part of an enterprise which independently engages in one, or predominantly one, kind of economic activity at or from one location . . . for which data are available . . ." (United Nations 1990). By design, this definition matches the reporting unit required for the production accounts of the United Nations System of National Accounts. The ISIC system is described in the United Nations' International Standard Industrial Classification of All Economic Activities, Third Revision (1990). The discussion of the ISIC draws on Ryten (1998).

Limitations and Exceptions: In establishing classifications systems compilers must define both the types of activities to be described and the units whose activities are to be reported. There are many possibilities, and the choices affect how the statistics can be interpreted and how useful they are in analyzing economic behavior. The ISIC emphasizes commonalities in the production process and is explicitly not intended to measure outputs (for which there is a newly developed Central Product Classification). Nevertheless, the ISIC views an activity as defined by "a process resulting in a homogeneous set of products."

Statistical Concept and Methodology: The data on the distribution of manufacturing value added by industry are provided by the United Nations Industrial Development Organization (UNIDO). UNIDO obtains the data from a variety of national and international sources, including the United Nations Statistics Division, the World Bank, the Organisation for Economic Co-operation and Development, and the International Monetary Fund. To improve comparability over time and across countries, UNIDO supplements these data with information from industrial censuses, statistics from national and international organizations, unpublished data that it collects in the field, and estimates by the UNIDO Secretariat. Nevertheless, coverage may be incomplete, particularly for the informal sector. When direct information on inputs and outputs is not available, estimates may be used, which may result in errors in industry totals. Moreover, countries use different reference periods (calendar or fiscal year) and valuation methods (basic or producer prices) to estimate value added.

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts