St. Kitts and Nevis - Industry, value added (current US$)

The latest value for Industry, value added (current US$) in St. Kitts and Nevis was $226,914,600 as of 2020. Over the past 43 years, the value for this indicator has fluctuated between $294,802,100 in 2019 and $8,666,667 in 1978.

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. Data are in current U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1977 $9,096,296
1978 $8,666,667
1979 $10,240,740
1980 $12,951,850
1981 $13,985,190
1982 $16,144,440
1983 $16,603,700
1984 $17,155,560
1985 $18,400,000
1986 $23,737,040
1987 $27,770,370
1988 $39,488,890
1989 $43,051,850
1990 $52,081,480
1991 $49,666,670
1992 $53,377,780
1993 $55,951,850
1994 $57,529,630
1995 $65,192,590
1996 $67,662,960
1997 $72,806,140
1998 $79,179,180
1999 $91,395,100
2000 $113,194,700
2001 $140,184,600
2002 $137,682,100
2003 $114,414,400
2004 $115,081,500
2005 $121,751,800
2006 $149,192,600
2007 $160,151,900
2008 $170,629,600
2009 $179,844,400
2010 $175,559,300
2011 $175,074,100
2012 $154,070,400
2013 $172,392,600
2014 $203,548,100
2015 $217,651,900
2016 $247,553,900
2017 $278,499,600
2018 $264,730,500
2019 $294,802,100
2020 $226,914,600

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: Gap-filled total

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