Puerto Rico - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Puerto Rico was 51.13 as of 2020. Its highest value over the past 60 years was 51.15 in 2016, while its lowest value was 27.63 in 1960.

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 27.63
1963 31.01
1964 30.88
1965 31.20
1966 32.28
1967 32.12
1968 32.35
1969 31.77
1970 30.32
1971 32.20
1972 32.94
1973 33.75
1974 35.21
1975 34.54
1976 37.57
1977 36.57
1978 38.03
1979 37.66
1980 39.32
1981 39.06
1982 38.77
1983 38.82
1984 40.16
1985 40.63
1986 40.35
1987 41.21
1988 41.64
1989 41.31
1990 41.97
1991 41.60
1992 43.26
1993 44.15
1994 44.53
1995 44.25
1996 43.10
1997 42.67
1998 45.25
1999 40.33
2000 46.06
2001 48.33
2002 49.25
2003 49.00
2004 47.94
2005 47.23
2006 46.86
2007 46.78
2008 47.40
2009 49.40
2010 50.90
2011 49.78
2012 49.64
2013 49.26
2014 49.93
2015 50.94
2016 51.15
2017 50.23
2018 50.78
2019 50.58
2020 51.13

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