Middle income - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Middle income was 32.43 as of 2020. Its highest value over the past 60 years was 40.74 in 1977, while its lowest value was 31.91 in 1962.

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 38.10
1961 32.71
1962 31.91
1963 34.36
1964 34.09
1965 34.58
1966 35.86
1967 33.84
1968 33.41
1969 35.17
1970 36.03
1971 37.53
1972 37.86
1973 38.66
1974 40.04
1975 40.09
1976 40.56
1977 40.74
1978 39.21
1979 40.70
1980 39.40
1981 35.93
1982 36.26
1983 36.28
1984 35.72
1985 35.09
1986 34.39
1987 34.79
1988 35.33
1989 36.49
1990 36.59
1991 34.71
1992 34.04
1993 34.34
1994 34.64
1995 32.70
1996 32.92
1997 32.97
1998 31.98
1999 32.66
2000 33.46
2001 33.26
2002 33.72
2003 33.73
2004 34.56
2005 35.13
2006 35.60
2007 35.38
2008 36.05
2009 35.00
2010 35.37
2011 36.06
2012 35.68
2013 34.97
2014 34.51
2015 33.50
2016 32.72
2017 33.05
2018 33.72
2019 32.91
2020 32.43

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