St. Lucia - Manufacturing, value added (current US$)

The latest value for Manufacturing, value added (current US$) in St. Lucia was $36,957,040 as of 2016. Over the past 39 years, the value for this indicator has fluctuated between $49,271,370 in 2007 and $6,351,926 in 1977.

Definition: Manufacturing refers to industries belonging to ISIC divisions 15-37. 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 $6,351,926
1978 $6,995,852
1979 $8,700,185
1980 $11,366,960
1981 $11,643,410
1982 $12,336,370
1983 $13,900,700
1984 $14,313,670
1985 $15,188,590
1986 $17,491,370
1987 $19,423,220
1988 $21,750,480
1989 $24,322,740
1990 $27,853,930
1991 $28,770,850
1992 $28,690,370
1993 $28,795,330
1994 $26,832,040
1995 $31,070,150
1996 $30,681,670
1997 $29,719,260
1998 $28,826,850
1999 $29,705,260
2000 $28,868,850
2001 $27,130,260
2002 $27,505,560
2003 $30,421,070
2004 $35,461,440
2005 $42,114,300
2006 $44,911,150
2007 $49,271,370
2008 $44,616,330
2009 $40,048,630
2010 $38,346,040
2011 $41,068,820
2012 $39,827,520
2013 $34,971,300
2014 $33,033,300
2015 $33,962,300
2016 $36,957,040

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 manufacturing value added in U.S. dollars are from the World Bank's national accounts files and may differ from those UNIDO uses to calculate shares of value added by industry, in part because of differences in exchange rates. Thus value added in a particular industry estimated by applying the shares to total manufacturing value added will not match those from UNIDO sources. Classification of manufacturing industries accords with the United Nations International Standard Industrial Classification (ISIC) revision 3. Data prior to 2008 used revision 2, first published in 1948. Revision 3 was completed in 1989, and many countries now use it. But revision 2 is still widely used for compiling cross-country data. UNIDO has converted these data to accord with revision 3. Concordances matching ISIC categories to national classification systems and to related systems such as the Standard International Trade Classification are available.

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