Norway - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Norway was 26.03 as of 2020. Its highest value over the past 50 years was 40.29 in 2008, while its lowest value was 26.03 in 2020.

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
1970 26.87
1971 26.12
1972 26.21
1973 26.33
1974 27.43
1975 28.84
1976 28.47
1977 28.27
1978 29.60
1979 32.10
1980 34.17
1981 34.05
1982 34.23
1983 35.02
1984 36.55
1985 35.70
1986 29.08
1987 28.57
1988 27.47
1989 29.20
1990 29.53
1991 28.41
1992 28.02
1993 27.60
1994 27.90
1995 28.79
1996 30.97
1997 31.47
1998 27.60
1999 29.57
2000 36.49
2001 35.21
2002 33.23
2003 33.39
2004 35.00
2005 37.97
2006 39.66
2007 37.18
2008 40.29
2009 34.30
2010 34.77
2011 37.03
2012 36.84
2013 35.64
2014 34.03
2015 31.01
2016 27.94
2017 29.79
2018 31.79
2019 28.97
2020 26.03

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